Blackstone Group has submitted a bid for GlaxoSmithKline’s (GSK) consumer drug portfolio, The Wall Street Journal reports. The firm teamed up with the U.S. over-the-counter drug company Prestige Brands to submit the bid. Goldman Sachs Group is running the sale of the business, which is valued at between £1.5 billion and £2 billion. Buyout firm Bain Capital and some trade buyers have also put in bids for the unit.

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