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GlaxoSmithKline (GSK) Negotiating $1 Billion Sale of Thrombosis Drugs to Aspen Pharmacare Ltd.


6/19/2013 7:26:49 AM

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GlaxoSmithKline is discussing the sale of its thrombosis drug brands Arixtra and Fraxiparine, along with a related French factory, to Aspen Pharmacare in a deal that could be worth some $1 billion. Britain's biggest drugmaker said on Tuesday that Aspen had offered to buy the medicines, sales of which are in decline, and it was now in exclusive talks with the South African company about a deal, which is subject to consultation with employees. Arixtra and Fraxiparine had worldwide sales of approximately 420 million pounds ($660 million) in 2012, down from 510 million in 2011, and revenues are expected to slide further in 2013. Neither company put a value on the proposed deal but assuming Aspen pays twice this year's anticipated sales, it could be worth around 700 million pounds - after stripping out sales in China, India and Pakistan, which GSK will retain.

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