Aspen procures GlaxoSmithKline’s thrombosis drug brands for $1.13 billion

Pharmaceutical company, GlaxoSmithKline, has agreed the $1.13 billion sale of its thrombosis drug brands and the Notre-Dame de Bondeville manufacturing site to Aspen Pharmacare Holdings Ltd. The sale of the brands, Arixtra(R) and Fraxiparine(R), are part of the company’s plan to focus on its higher growth potential drugs and to deliver on its late-stage pipeline. David Redfern, Glaxo’s chief strategy officer, GSK, said, “Arixtra(R) and Fraxiparine(R) 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.” GSK said that it would retain the rights to the thrombosis drug brands in China, India and Pakistan. GSK, which owns an 18.6 percent stake in Aspen, said that the sale proceeds would be used for general corporate purposes. Earlier in September, GSK also sold its Lucozade and Ribena drink brands for 1.35 billion pounds to Japan’s Suntory Beverage & Food Ltd. GSK said it would use the money raised for general corporate purposes, adding that the net profit on disposal will be excluded from core operating profit and core earnings per share in 2013. #