GlaxoSmithKline is selling its portfolio of anaesthetics and thrombosis business to Aspen as it continues to simplify its business strategy through focusing on core therapeutic areas.
The UK drugs giant said it will divest its anaesthetics Ultiva, Nimbex, Tracrium, Mivacron and Anectine to the South African group for £180 million plus milestones of up to £100 million.
The drugs collectively pulled in £35 million in the first half of 2016.
In addition, GSK and Aspen have entered into parallel agreements to terminate their collaboration in Sub-Saharan Africa and for Aspen to exercise its option to acquire GSK's remaining thrombosis business in certain retained markets, which is generating annual revenue of around £30 million.
The agreements remain subject to the relevant anti-trust and regulatory clearances.