GlaxoSmithKline to sell thrombosis brands

GlaxoSmithKline has agreed to sell its thrombosis brands Arixtra and Fraxiparine to the Aspen Group.

The South African pharmaceutical company will also purchase the Notre-Dame de Bondeville manufacturing site in a 700 million pounds deal.

GlaxosmithKline chief strategy officer David Redfern stated: "Aspen is a long-term partner of GSK and will be able to dedicate the resources that these products deserve to take them forward."

Sales of Arixtra and Fraxiparine reached 177 million pounds in the first half of 2013.

GlaxosmithKline said it decision to sell the brands is evidence of its commitment to increase its focus on products with the most growth potential and the delivery of its late-stage pipeline. 

It added the majority of the jobs associated with the products will be saved as a result of the transaction.

The company holds an 18.6 per cent stake in Aspen, which is Africa's largest pharmaceutical manufacturer and one of the leading generics manufacturers in the southern hemisphere as a whole.