GSK says sells thrombosis brands, French site

British drugs firm GlaxoSmithKline (GSK) said Monday that it has sold two thrombosis brands and a French plant to South African peer Aspen for £700 million ($1.13 billion, 834 million euros).

"GSK today announced it has reached agreement to sell its brands, Arixtra and Fraxiparine, and the Notre-Dame de Bondeville manufacturing site to The Aspen Group," said a statement.

"The agreement is a further example of GSK's commitment to increase focus on products with the most growth potential," it added.

Aspen will acquire global rights to the Arixtra and Fraxiparine brands—excluding China, India and Pakistan—and certain dedicated commercial employees, along with the related Notre-Dame de Bondeville manufacturing site and the majority of employees at the facility.

GSK added that it would use the proceeds for general corporate purposes.

"Arixtra and Fraxiparine are established products that have consistently delivered strong revenues," said GSK chief strategy officer David Redfern.

"However, our focus is on delivering an unprecedented late-stage pipeline and preparing for the launch of approved medicines."

London-listed GSK has a shareholding of 18.6 percent in Aspen, which is a top generic drugs maker in the southern hemisphere and is also Africa's largest pharmaceutical manufacturer.

add to favorites email to friend print save as pdf

Related Stories

Drugmaker GSK posts slumping Q1 profits

Apr 24, 2013

British drugs firm GlaxoSmithKline on Wednesday said its first-quarter net profit tumbled by almost a third, with the group hit by falling sales and a poor economic climate.

GSK unveils expansion plans in India, Nigeria

Nov 26, 2012

British drugmaker GlaxoSmithKline said it intends to increase its holdings in its Indian and Nigerian divisions, as part of a long-term strategy to expand into emerging markets, in a statement on Monday.

China state media raises pressure on Britain's GSK

Sep 03, 2013

Chinese state media increased the pressure on British pharmaceutical giant GlaxoSmithKline (GSK) over a bribery investigation Tuesday, accusing the firm of being responsible rather than individual employees.

China shuts travel agency in GSK bribery case

Jul 19, 2013

China has shut down a travel agency which served as a conduit for bribes allegedly given by staff of British drug firm GlaxoSmithKline (GSK), the government and state media said.

Recommended for you

Study recalculates costs of combination vaccines

Apr 17, 2014

One of the most popular vaccine brands for children may not be the most cost-effective choice. And doctors may be overlooking some cost factors when choosing vaccines, driving the market toward what is actually a more expensive ...

Drug watchdog urges vigilance in cancer drug theft

Apr 17, 2014

Europe's medicine watchdog urged doctors Thursday to be vigilant in administering the cancer drug Herceptin, vials of which had been stolen in Italy and tampered with before being sold back into the supply chain.

User comments