GSK and Aspen complete planned deal extension
This article was originally published in Scrip
Executive Summary
GlaxoSmithKline has completed its acquisition of a stake in the South African generics firm Aspen Pharmacare. Aspen issued GSK with 68.5 million ordinary shares in exchange for a portfolio of specialist medicines with combined sales in 2008 of £56 million, and a manufacturing facility in Bad Oldesloe, Germany. The shares represent a 16% stake; in addition, GSK has purchased Aspen shares since signing the deal in May, giving it a total holding of 81.7 million shares, or a 19% stake.