Galen to sell UK drug business

Northern Ireland-based Galen Holdings is selling its British drug sales and marketing business for £40m to a company controlled by its founder, Dr Allen McClay.

The UK business sells a range of pharmaceutical products in the UK and Ireland. These include painkiller Kapake, incontinence drug Regurin and oral contraceptive Loestrin. For the year ending September 2003, it achieved sales of $32.9m.