Sector News

GSK sells anesthetics to Aspen for up to $370 million

September 12, 2016
Life sciences

GlaxoSmithKline is to sell its portfolio of anesthetic drugs to South Africa’s Aspen Pharmacare for up to 280 million pounds ($372 million) as part of a drive by the British drugmaker to focus on core therapy areas.

The two firms, which have a long history of working together, said on Monday that Aspen would pay 180 million pounds for the products Ultiva, Nimbex, Tracrium, Mivacron and Anectinein, plus up to 100 million pounds in milestone payments.

GSK, which had already sold the U.S. and Canadian rights to the drugs, earned around 35 million pounds from the anaesthetics in the first half of 2016.

Aspen is also acquiring rights to the remaining GSK thrombosis drug portfolio, while the two companies are ending a broader collaboration in sub-Saharan Africa.

The South African group bought most of the thrombosis drug rights in 2013, but GSK had retained certain territories, including China, India and Pakistan.

($1 = 0.7532 pounds)

By Ben Hirschler

Source: Reuters

comments closed

Related News

January 22, 2023

Sun Pharma to buy Concert Pharmaceuticals for $576m

Life sciences

Sun Pharmaceutical Industries has signed a definitive agreement to buy all outstanding shares of Concert Pharmaceuticals in a deal valued at $576m. Under the deal, the company will buy all shares of Concert common stock through a tender offer for $8.00 per share in cash upfront payment.

January 22, 2023

Novo Nordisk diabetes pill wins FDA approval for first-line use

Life sciences

The Food and Drug Administration on Thursday approved Novo Nordisk’s diabetes pill Rybelsus as an initial treatment to lower blood sugar levels, a label expansion that will allow it to compete more directly with other oral drugs from Merck & Co. and Eli Lilly.

January 22, 2023

Bayer feeling more heat from activist investors, this time from Bluebell

Life sciences

Since making an ill-advised $63 billion buy of Monsanto in 2018, Bayer has faced heaps of pressure from investors that have called for the company to oust its leadership and to restructure. Now comes new pressure from a familiar source. Bluebell Capital Partners has bought an undisclosed stake in the company and is agitating for a breakup, sources told Reuters.

How can we help you?

We're easy to reach