British drug maker GlaxoSmithKline (GSK) has signed an agreement with Aspen Global (AGI) to acquire interest in its newly established subsidiary Aspen Japan.
As part of the deal, GSK will acquire a 25% interest in Aspen Japan, while the remaining stake will be owned by Aspen.
The agreement will allow Aspen Japan to carry out its commercial operations in the country through a strategic alliance with GSK.
In accordance with the collaboration, AGI will transfer the marketing authorisations and grant perpetual distribution rights to Aspen Japan for all products, which are presently being marketed and supplied on behalf of Aspen in Japan.
GSK will also transfer the marketing authorisations and grant distribution rights to Aspen Japan for certain mature products in its portfolio.
In addition, GSK will provide a pipeline of authorised generics for its multiple products to Aspen Japan, while AGI will offer the rights of all future products, which it acquires or licenses in Japan.
AGI will take care of the management of Aspen Japan, as well as commercialisation of all the products in its portfolio.
Completion of the deal is subject to multiple conditions, including Aspen Japan obtaining accreditation as a marketing authorisation holder from the relevant Japanese regulatory authority.
Image: GlaxoSmithKline headquarters in Brentford, London, England. Photo: courtesy of Maxwell Hamilton.