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Additional Information
Market: LSE
Sector: Pharmaceuticals & Biotechnology
EPIC: GSK
Latest Price: 1,419.50p  (0.25% Ascending)
52-week High: 1,500.00p
52-week Low: 1,123.00p
Market Cap: 71,707.80M
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GlaxoSmithKline
www.gsk.com

GlaxoSmithKline supplies an estimated seven per cent of the world's pharmaceutical market and has six major disease areas – asthma, virus control, infections, mental health, diabetes and digestive conditions.

Full GlaxoSmithKline profile here
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GlaxoSmithKline Builds On Aspen Pharmacare Partnership

1st Dec 2009, 10:21 am GlaxoSmithKline Builds On Aspen Pharmacare Partnership

GlaxoSmithKline (‘LSE: GSK) (‘Glaxo’) extended its strategic relationship with Aspen Pharmacare Ltd (JSE: APN) (‘Aspen’). The pharma’ giant also acquired 68.5 million shares in the South African based company.


Aspen is the largest pharmaceutical manufacturer on the African continent. The company manufactures and supplies a range branded and generic pharmaceutical, healthcare and nutritional products. To date, its primary focus has been the generics market.


The re-instated deal covers a wide ranging agreement which includes combining commercial activities in Sub-Saharan Africa and Glaxo’s divestment of several assets to Aspen. Under the terms of the agreement Glaxo will also appoint Abbas Hussain, President of its Emerging Markets division, to the Aspen board as a non-executive director.


Glaxo received the latest equity package in payment for the disposed assets. On completion, the FTSE100 listed drug maker will own a total of 81.7 million shares in Aspen, representing 19% of the company’s issued share capital.

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