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Home Industry News GSK to divest four products

GSK to divest four products

2nd July 2008

GlaxoSmithKline (GSK) has announced plans to divest four products to a subsidiary of Aspen Global for the sum of 170 million pounds in cash.

The firm will sell Eltroxin, Lanoxin, Imuran and Zylorix to the South African based group who will own these products in all markets outside the US, with the exception of Japanese rights to Zyloric.

Eltroxin is a thyroid hormone used to treat hyperthyroidusm, while Lanoxin is a cardiac glycoside used in heart failure patients.

Imuran is an immunosuppressant while enzyme inhibitor Zyloric is a treatment for gout.

Recorded sales for these products last year reached around 80 million pounds in the relevant markets with all requiring specialised manufacturing.

Consequently, all products will be manufactured by GSK for a transitional period, after which Aspen will take on this responsibility.

Andrew Witty, chief executive officer of GSK, said: “As we look to maximise the value of our portfolio and simplify our manufacturing operations we are actively seeking out opportunities to divest products which can be efficiently commercialised by other parties.”

He added Aspen is a well-respected and rapidly-growing pharmaceuticals group with an extensive branded generic product pipeline and portfolio.

Last month, GSK signed an agreement with Mpex Pharmaceuticals for the development of innovative efflux pump inhibitors.

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