GSK Extends Strategic Collaboration with Aspen
Tue, 05/12/2009 - 4:30am
GlaxoSmithKline has agreed to extend its strategic relationship with AspenPharmacare Holdings Limited (Aspen) and to acquire a 16% shareholding in theSouth African based pharmaceuticals company. This is part of a wide rangingagreement which includes combining commercial activities in Sub-Saharan Africaand the divestment of several assets to Aspen. Abbas Hussain, President Emerging Markets, GlaxoSmithKline said:"Extending our strategic relationship with Aspen supports GSK's strategy toaccelerate sales growth in emerging markets. The combination of our commercialactivities in Sub-Saharan Africa is highly complementary and will mean thattogether we can provide more medicines of value to more patients in thesecountries. At the same time, GSK will also benefit from investing in one ofAfrica's leading healthcare companies with a formidable track record ofdelivery."