(Removes incorrect reference in first paragraph to company
being Brazil's largest maker of generic drugs)
SAO PAULO Oct 4 Brazilian drugmaker Hypermarcas
SA on Tuesday received 570.8 million reais ($175.32
million) from Reckitt Benckiser PLC, the final payment
from the sale of its condom division, according to a securities
In total, the updated value of the deal is 705.8 million
reais, the filing added. When the company announced the deal in
January, it stated the sale price was 675 million reais.
The disposal of its condom division followed the sale of
Hypermarcas' cosmetics unit to France's Coty for 3.8
billion reais in November.
Proceeds from both sales should help the company to reduce
debt, Hypermarcas said.
Brazil's antitrust watchdog approved the transaction with
Reckitt on Sept. 14 on condition that the buyer sells K-Y, a
lubricant brand that was also part of the deal.
($1 = 3.2558 reais)
(Reporting by Ana Mano; Editing by Cynthia Osterman)