GSK divests non-core assets to Aspen

Issued: London

GlaxoSmithKline plc (LSE/NYSE: GSK) today announces a series of agreements with Aspen (JSE: APN) aligned with GSK’s strategy of simplification through focusing on core therapeutic areas.

GSK will divest its anaesthesia portfolio to Aspen for £180 million plus milestones of up to £100 million. In addition to this divestment, GSK and Aspen have entered into parallel agreements to terminate their collaboration in Sub-Saharan Africa and for Aspen to exercise its option to acquire GSK’s remaining thrombosis business in certain retained markets.

The agreements announced today are subject to the relevant anti-trust and regulatory clearances.

Notes to editors:

• GSK’s anaesthesia portfolio consists of Ultiva, Nimbex, Tracrium, Mivacron and Anectine. GSK has previously divested this business in the US and Canada so no longer commercialises the products in these countries.
• Following termination of the current collaboration between GSK and Aspen across Sub-Saharan Africa (‘SSA’), both parties will continue to commercialise their own respective portfolios in the region. The collaboration between GSK and Aspen in South Africa remains in place.
• In 2013, GSK divested its thrombosis portfolio to Aspen, but retained ownership of the franchise in certain territories (‘Retained Markets’ defined as China including Hong Kong and Macau, India and Pakistan). Aspen has now exercised the existing option to acquire the Retained Markets.
• GSK sales of the anaesthesia portfolio were £35 million in the first half of 2016. The remaining thrombosis portfolio at GSK had full-year sales of approximately £30 million in 2015.
• The net impact of the termination of the SSA collaboration and divestment of the thrombosis portfolio in the Retained Markets is not material to GSK.