U.K.-based drug maker GlaxoSmithKline plc (GSK, GSK.L) said Tuesday that it has received an offer for its thrombosis brands and a related production site in France from South Africa-based Aspen Pharmacare Holdings Ltd as well as its subsidiary Aspen Global Inc. Financial terms of the deal were not disclosed.
GlaxoSmithKline said that it has agreed to a period of exclusivity with Aspen and will respond to the offer after consultation with employees and the relevant works councils.
The company noted that the offer includes the transfer to Aspen of the Arixtra and Fraxiparine brands worldwide, excluding China, India and Pakistan, along with the related manufacturing site and the majority of employees at the Notre-Dame de Bondeville or NDB production site in France and certain commercial employees.
According to GlaxoSmithKline, the proposed deal is aligned with its strategy of focusing on products with the most growth potential and the delivery of its pipeline.
In a separate statement, Aspen Pharma said that the company and Aspen Global or AGI have made a combined offer to GlaxoSmithKline in respect of a possible transaction. The generics drug maker noted that the Arixtra and Fraxiparine/Fraxodi brands generated about 420 million pounds in revenue for GlaxoSmithKline in its financial year ended December 31, 2012.
Aspen said that the brands will transfer to AGI at the end of 2013. The company also said it will acquire the specialized sterile production site that manufactures these brands at Notre-Dame de Bondeville or NDB in France. The site will transfer to Aspen during the fourth quarter of the company's 2014 financial year.
In Tuesday's regular trading session, GSK is trading at $52.52, down $0.22 or 0.42 percent on a volume of 101,593 shares.
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