Glaxo sells Australian drug brands

GlaxoSmithKline advanced its clear-out of non-core drugs yesterday with a deal to sell 25 older brands marketed in Australia to South Africa's Aspen Pharmacare for £172m. The old brands being bought by Aspen include herpes treatment Valtrex, epilepsy drug Lamictal and the antibiotic Amoxil. In total, the 25 products generated sales of around £83m pounds in 2011 and £31m in the first half of 2012.