GlaxoSmithKline has this week completed the transfer of its thrombosis brands Arixtra (fondaparinux) and Fraxiparine (nadroparin) to Aspen after receiving the regulatory seal of approval for the deal.
Under the transaction, first announced back in June, Aspen is paying the UK drug giant $700 million for ownership of the thrombosis drugs (excluding China, India and Pakistan) as well as the related manufacturing site at Notre-Dame de Bondeville and most employees there.
Ownership of the site will transfer to Aspen in mid-2014, the firms said.
The move falls in line with GSK’s strategy of divesting non-core brands. As such, the group said it has also this week completed the divestment of nutritional drinks brands Lucozade and Ribena to Suntory Beverage & Food Ltd for £1.35 billion.
For Aspen, the deal presents "excellent synergistic opportunities" for its ongoing global expansion strategy, noted Group Chief Executive Stephen Saad.