GlaxoSmithKline sells thrombosis brands to Africa's largest drugs company

GlaxoSmithKline announced today that it has agreed to sell its thrombosis brands Arixtra and Fraxiparine and the Notre-Dame de Bondeville manufacturing site to South African pharmaceuticals company Aspen Pharmacare for £700m. The cash proceeds after tax and transaction costs are estimated to be £600m.

David Redfern, chief strategy officer, GSK, said:

Arixtra® and Fraxiparine® are established products that have consistently delivered strong revenues. However, our focus is on delivering an unprecedented late-stage pipeline and preparing for the launch of approved medicines. Aspen is a long-term partner of GSK and will be able to dedicate the resources that these products deserve to take them forward. Importantly, we are pleased to be able to preserve the vast majority of jobs through this agreement.”

GSK has an 18.6 per cent holding in Aspen and is the largest drug company in Africa. Aspen is listed on South Africa's JSE limited and its products are sold in 150 countries.