GSK Keeps Slimming Down With $270M Sale Of Aussie Drugs

Law360, New York (August 15, 2012, 1:41 PM EDT) -- GlaxoSmithKline PLC announced Wednesday that it would sell 25 of its less-profitable Australian prescription drugs to South Africa's Aspen Pharmacare Holdings Ltd. for £172 million ($270 million), continuing to shed noncore businesses.

The portfolio include herpes treatment Valtrex, epilepsy drug Lamictal and antidepressant Aropax. In total, the 25 products generated $130 million in 2011 and $46.8 million through the first half of 2012, GSK said, but have been hurt by Valtrex's patent expiration and steep price cuts by Australia's government-sponsored prescription drug coverage system.

Aspen, which...
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