GlaxoSmithKline had agreed to sell its thrombosis drug brands and a related factory to Aspen Pharmacare. The transaction was priced GBP700 million. The sale was a part of GSK's move to focus on growth products.
GSK said last Monday that the divestment to South Africa's largest generic drug manufacturer would earn proceeds of GBP600 million. The headline price of the deal related to inventory was at GBP100 million.
The disposal involved the Arixtra and Fraxiparine brands whose worldwide sales had declined. The said brands would otherwise drag GSK's growth at a time when new drugs had been set to reach the market.
GSK said it would retain the rights to the brands in China, India and Pakistan. GSK had ownership of 18.6% stake in Aspen. The proceeds of the sale would be used for general corporate purposes. Earlier this month, GSK had also sold its Ribena and Locozade drink brands for GBP1.35 billion to Suntory Beverage & Food Ltd.
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