GlaxoSmithKline says it has received an offer for its thrombosis drugs Arixtra and Fraxiparine from South Africa's Aspen Pharmacare, which is also looking to buy the facility in France where the treatments are produced.
It would appear that the deal could be a successful one as the drugs giant says that a period of exclusivity has been agreed with Aspen and GSK will now consult with employees and the relevant works councils. The financial terms are confidential at this time, although the Durban-headquartered firm noted that the brands generated revenues of £420 million in 2012.
The offer includes the transfer of Arixtra (fondaparinux) and Fraxiparine (nadroparin), excluding China, India and Pakistan to Aspen, along with the related manufacturing site at Notre-Dame de Bondeville and the majority of employees there. GSK got hold of the two drugs in 2004 from what was then Sanofi-Synthelabo in a deal valued at the time at 453 million euros.
The transaction would be in line with GSK’s strategy of divesting non-core brands. The company is currently looking to sell its Lucozade and Ribena drinks.
GSK and Aspen have long been partners and the UK group also has a 19% stake in the latter. Last year, GSK sold 25 non-promoted and genericised products in Australia, including the herpes drug Valtrex (valaciclovir) and Lamictal (lamotrigine) for seizures and bipolar disorder, to Aspen for £172 million.