NewsSouthern AfricaGSK sells anesthetics to South Africa's Aspen for up to $370m

Sat,18Nov2017

Posted on Monday, 12 September 2016 13:55

GSK sells anesthetics to South Africa's Aspen for up to $370m

By Reuters

The GlaxoSmithKline building is pictured in Hounslow, west London June 18, 2013. REUTERS/Luke MacGregor/File PhotoGlaxoSmithKline is to sell its portfolio of anesthetic drugs to South Africa's Aspen Pharmacare for up £280m ($372m) 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 £180m for the products Ultiva, Nimbex, Tracrium, Mivacron and Anectinein, plus up to £100m in milestone payments.

GSK, which had already sold the U.S. and Canadian rights to the drugs, earned around £35m 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.



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