GlaxoSmithKline sells non-core assets to Aspen

12 September 2016 (Last Updated September 12th, 2016 18:30)

GlaxoSmithKline has signed several agreements with Aspen as part of its strategy of simplification by focusing on core therapeutic areas.

GlaxoSmithKline has signed several agreements with Aspen as part of its strategy of simplification by focusing on core therapeutic areas.

GSK will sell its anaesthesia portfolio to Aspen for £180m in addition to milestones of up to £100m.

Along with the divestment, GSK and Aspen have entered into parallel agreements to end their collaboration in Sub-Saharan Africa, as well as for Aspen to exercise its option to acquire GSK’s remaining thrombosis business in some retained markets.

The agreements are subject to the relevant anti-trust and regulatory clearances.

"GSK will sell its anaesthesia portfolio to Aspen for £180m in addition to milestones of up to £100m."

GSK’s anaesthesia portfolio comprises Ultiva, Nimbex, Tracrium, Mivacron and Anectine.

GSK previously divested this business in the US and Canada and now no longer commercialises the products in these countries.

After termination of the current collaboration between GSK and Aspen across Sub-Saharan Africa, both entities will continue to commercialise their own individual portfolios in the region. However, the collaboration between GSK and Aspen in South Africa will continue.

In 2013, GSK sold its thrombosis portfolio to Aspen, however, it continued ownership of the franchise in certain territories such as in China, India and Pakistan. Aspen has currently exercised the existing option to acquire ownership in these markets.

GSK's sales of the anaesthesia portfolio were £35m in the first half of this year, with the rest of the thrombosis portfolio having full-year sales of approximately £30m last year.