By Alex C
Aspen Pharmacare, a Johannesburg Stock Exchange (JSE) listed and Africa’s biggest drug-maker, has said GlaxoSmithKline (GSK), British drug maker would acquire a 25 percent stake in Japan-based Aspen Japan, Aspen’s newly-launched subsidiary, for an undisclosed sum.
This deal will see Aspen Global, a wholly-owned subsidiary of Aspen Pharmacare, hold a 75 percent equity interest in Aspen Japan, while GSK will hold a 25 percent stake. Where feasible, Aspen Japan would become the channel through which the Aspen Pharmacare Group will conduct its commercial business in Japan in a strategic alliance with GSK.
In terms of collaboration, Aspen Global will hand-over marketing authorisations and grant distribution rights to Aspen Japan for all products currently being marketed and distributed on behalf of Aspen in Japan.
Additionally, GSK will transfer the marketing authorisations and grant distribution rights to Aspen Japan for certain mature products in GSK’s portfolio.
Furthermore, GSK will provide Aspen Japan with a pipeline of authorised generics for a number of GSK’s products while also offering Aspen Japan the rights to all future products that it acquires or licenses in Japan.
This agreement is subject to certain conditions, one of which is Aspen Japan obtaining accreditation as a Marketing Authorisation Holder (MAH) from the relevant Japanese regulatory authorities.
It is expected that with GSK, Aspen will be able to harness more opportunities and grow its presence in one of the world’s biggest pharmaceutical markets.