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Aspen unit to buy drug portfolio from GSK

Aug 15 2012 08:53

Company Data

ASPEN PHARMACARE HOLDINGS LIMITED [JSE:APN]

Last traded 333.38
Change -2.66
% Change -0.01
Cumulative volume 405886
Market cap 152.14bn

Last Updated: 19/09/2014 at 04:26. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Aspen Pharmacare [JSE:APN] said on Wednesday its subsidiary, Aspen Global, will pay £172m for GlaxoSmithKline's pharmaceutical products distributed in Australia.

Aspen said in a statement that the purchase price for the 25 pharmaceutical products was subject to a small reduction should the deal not be completed by October 31.

It said the deal will be funded from new offshore debt facilities and that Aspen Australia was expected to distribute the products.

The deal was subject to regulatory approvals from Australian authorities, the company said.

Aspen also announced in April that it would pay $263m for GSK's international over-the-counter brands.
 
aspen  |  glaxosmithkline  |  drugs
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