GlaxoSmithKline takes stake in new Aspen Japanese unit
South African drugmaker Aspen Pharmacare (JSE: APN) says that Aspen Global Inc (AGI), a subsidiary of Aspen Holdings, has entered into a strategically collaborative partnership with UK pharma giant GlaxoSmithKline (LSE: GSK) in Japan.
Under the terms of the deal, GSK will have a 25% equity stake in the South African firm’s newly-established subsidiary Aspen Japan. Aspen, according to the agreement, will hold a 75% equity share in Aspen Japan. Aspen is also Africa’s biggest generic drugmaker. The logic behind the collaboration is the opportunities that GSK already has in the Asian market.
“It is expected that, through this agreement with GSK, Aspen will be able to harness more opportunities and grow its presence in one of the world’s biggest pharmaceutical markets,” said a group statement.
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