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

US approves new, hard-to-abuse hydrocodone pill (Update)

Nov 20, 2014

U.S. government health regulators on Thursday approved the first hard-to-abuse version of the painkiller hydrocodone, offering an alternative to a similar medication that has been widely criticized for lacking ...

Soaring generic drug prices draw Senate scrutiny

Nov 20, 2014

Some low-cost generic drugs that have helped restrain health care costs for decades are seeing unexpected price spikes of up to 8,000 percent, prompting a backlash from patients, pharmacists and now Washington ...

Only half of patients take their medications as prescribed

Nov 20, 2014

The cost of patients not taking their medications as prescribed can be substantial in terms of their health. Although a large amount of research evidence has tried to address this problem, there are no well-established ...

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.