Glaxo and Aspen end collaboration at cost of R761 million

Pharmaceutical companies Aspen Pharmacare, Aspen Global's local arm, and GlaxoSmithKline (GSK) have ended their sub-Saharan collaboration, at a cost of R761.07 million. GSK will also be disposing of its shares in Aspen, worth some R8.47 billion.

Aspen Pharmacare said in a statement:

"Pharmacare and GSK had agreed to cancel the rights of Pharmacare to collaborate in the sub-Saharan business of GSK and that GSK would pay Pharmacare £45m as consideration for the cancellation of the SSA collaboration."

Pictured: Stephen Saad, CEO of Aspen Pharmacare