Aspen Acquires GSK Injectable Thrombosis Brands for $970 Million
Stock Chart for Aspen Pharmacare Holdings Ltd (APN)
Aspen Pharmacare Holdings Ltd. (APN), Africa’s largest generic-drugs maker, will acquire GlaxoSmithKline Plc (GSK)’s injectable thrombosis brands and a manufacturing site for 600 million pounds ($970 million).
“The limited focus by GSK on this therapeutic area represents an opportunity,” Aspen said in a statement today. “GSK has not concentrated its promotion of the brands in many of the emerging markets targeted by Aspen as future areas of growth.”
Aspen will acquire the Arixtra and Fraxiparine/Fraxodi brands and a specialized production site in France, it said. Aspen will take over about 400 sales and marketing employees who work on the brands in Europe and the Commonwealth of Independent States.
Aspen supplies medicine in more than 150 countries and had sales of 19.3 billion rand ($1.9 billion) in the year through June. Johannesburg-based Aspen started offering $2.04 billion of acquisition loans to a bigger group of lenders to finance purchases of assets and brands, the company said in a statement on Sept. 13.
Aspen shares fell 1.2 percent to 265 rand at 2:26 p.m. in Johannesburg, trimming this year’s gain to 57 percent, and valuing the company at 120.8 billion rand.
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