Aspen Dangles £700M Bid For GSK Drugs

Law360, New York (July 24, 2013, 1:58 PM EDT) -- GlaxoSmithKline PLC on Wednesday disclosed that Aspen Pharmacare Holdings Ltd. has offered £700 million ($1.1 billion) to purchase two of the pharmaceutical giant's thrombosis drug brands and a manufacturing facility in France.

The deal includes £100 million to purchase existing inventory, according to GSK's second-quarter earnings report. Aspen and GSK have been negotiating under an exclusivity period since last month, when they first announced the possible sale without disclosing the potential value of the deal.

Representatives for GSK declined to comment further Wednesday. Representatives for Aspen...
To view the full article, register now.