$372M deal: GSK sells anaesthesia product line

GlaxoSmithKline entered into a deal Monday to sell its portfolio on anaesthesia products to Aspen Pharmacare Holdings for $239 million.

The deal also includes milestone payments to GlaxoSmithKline (NYSE: GSK) of up to $133 million — putting the total value of the deal at up to $372 million.

As part of the deal, the two companies also agreed to terminate their product marketing collaboration in Sub-Saharan Africa, and for Aspen to exercise its option to acquire GlaxoSmithKline’s remaining thrombosis business in China, India and Pakistan.

GSK’s anaesthesia portfolio consists of Ultiva, Nimbex, Tracrium, Mivacron and Anectine. The company, which is based in London and has large operations in Philadelphia and Montgomery County, previously divested the product line in the United States and Canada so it no longer sells the products in either country.

Officials at GlaxoSmithkline said the agreement to sell the non-core assets is part of the company’s goal to focus on core therapeutic areas, which include cancer, metabolic and cardiovascular disease, inflammation, infectious diseases, neurosciences and vaccines.

Aspen, which is based in South Africa, bought a portfolio on anaesthesia products from AstraZeneca (NYSE: AZN) in June in a deal valued at up to $770 million.

19 – September – 2016