GSK receives thrombosis offer
pharmafile | June 19, 2013 | News story | Sales and Marketing | GSK, aspen, thrombosis
GlaxoSmithKline has received an offer from South African firm Aspen Global Incorporated (AGI) to buy its injectable thrombosis treatments and the Notre-Dame de Bondeville (NDB) manufacturing facility which produces them.
No financial details have been disclosed, but in a cautionary note to shareholders the Durban-based company said that the brands – Arixtra (fondaparinux) and Fraxiparine/Fraxodi (nadroparin) – had revenues of around £420 million for GSK last year.
Nine years ago they and the factory cost GSK €453 (£388 million at current exchange rates) when the company purchased them from Sanofi.
The AGI offer as it stands would see the majority of employees at NDB in France and ‘certain dedicated commercial employees’ transferring to Aspen.
GSK has agreed a period of exclusivity with the potential buyer and says it will “respond to the offer subject to consultation with employees and the relevant works councils”.
AGI, which owns Aspen Pharmacare Holdings, wants the brands and their global business, outside China, Pakistan and India and the idea is that the rights to the drugs would become Aspen’s at the end of this year.
The NBD specialised sterile production site would transfer to Aspen during the fourth quarter of the company’s 2014 financial year, it says.
In a short statement, GSK explained: “The proposed transaction is aligned to GSK’s strategy of focusing on products with the most growth potential and the delivery of its pipeline.”
Arixtra has half a dozen indications in the European Union, including the prevention of venous thromboembolic events (VTE) and initial treatment of acute DVT.
The firms have dealt with one another before: last year GSK divested most of its Australian generics unit to AGI, including 25 non-promoted generic drugs, for £172 million.
The brands included antibiotics and anti-viral medicines as well as painkillers, muscle relaxants and treatments for nausea and inflammation – sales of which generated £83 million in 2011 and £31 million in the first half of 2012.
Adam Hill
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