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Epic GSK
Time: 11:05:09
Mid Price: 1269.00
Change Today: -3.00 Descending
Change % Today: -0.24 Descending
Fifty Two Week High: 1339.50
Fifty Two Week Low: 987.00
Market Capital: 65879.91
Period & price data
Period Price
Now: 1269.00
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: LSE
Sector: Pharmaceuticals & Biotechnology
Epic: GSK
News: Latest news
Web Site: GlaxoSmithKline
Other Articles: 21-12-200901-12-200902-11-2009

GlaxoSmithKline

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.
Tuesday, December 01, 2009

GlaxoSmithKline Builds On Aspen Pharmacare Partnership

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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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