GSK to sell products to Aspen

30 Jun 2008

GlaxoSmithKline (GSK) is to sell four products to Aspen for £170 million, it is reported.

The company has agreed to sell the non-US and non-Japan rights of Eltroxin, Lanoxin, Imuran and Zyloric to a subsidiary of the South African-based pharmaceuticals group, Aspen Global, says Thomson Financial News.

GSK says the products recorded sales of around £80 million last year in the markets concerned and they require "specialised manufacturing", it reports.

The website reports chief executive Andrew Witty's comments: "As we look to maximise the value of our portfolio and simplify our manufacturing operations, we are actively seeking out opportunities to divest products which can be efficiently commercialised by other parties."

Earlier this month, GSK revealed it had entered into a worldwide strategic alliance with Mpex Pharmaceuticals for the development of new medicines for bacterial diseases.

The collaboration gives GSK access to Mpex's novel efflux pump inhibitors for use in combination with a variety of antibiotics.