GSK Strengthens Link With Aspen

GlaxoSmithKline is taking a 16% stake in South Africa-based Aspen Pharmacare, which has a market capitalization of roughly $2.1 billion. In exchange for its shares, Aspen gains eight GSK specialty drugs, which last year had combined sales of $85 million, and a manufacturing plant in Bad Oldesloe, Germany. The deal strengthens an existing relationship between the companies. Last June, GSK bought the rights to commercialize Aspen's portfolio, which includes more than 450, mostly generic, products, in a range of emerging market countries. The British drugmaker then sold Aspen the rights to four legacy products, some of which are produced at the Bad Oldesloe site.