GlaxoSmithKline sells off non-core business units to Aspen

GlaxoSmithKline has announced the sale of several non-core business units to Aspen as part of a broader strategic realignment.

Under the terms of the agreement, the firm will divest its anaesthesia portfolio to Aspen for 180 million pounds, plus milestone-based fees of up to 100 million pounds. The GlaxoSmithKline anaesthesia portfolio consists of Ultiva, Nimbex, Tracrium, Mivacron and Anectine.

This deal does not affect the US and Canada, where the company has already divested this business and no longer commercialises the products in these countries. Sales of these anaesthesia products came to 35 million pounds in the first half of 2016.

In addition to this, GlaxoSmithKline and Aspen have entered into parallel agreements to terminate their collaboration in sub-Saharan Africa, and for Aspen to exercise its option to acquire GlaxoSmithKline's remaining thrombosis business in certain retained markets.

Both parties will continue to commercialise their own respective portfolios in the region, with the collaboration between the two companies in South Africa set to remain in place.

The company said the transactions were "aligned with GlaxoSmithKline's strategy of simplification through focusing on core therapeutic areas".

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