Aspen completes acquisition of AstraZenecas anaesthetics portfolio
Author: Karl Gernetzky
Source: Business Day
Aspen Pharmacare’s share price was up in mid-morning trade, following the announcement of the conclusion of the commercialisation rights agreement. Aspen Pharmacare said on Wednesday it had completed the acquisition of the rights to AstraZeneca’s global anaesthetics portfolio.
In mid-morning trade Aspen’s share price was up 1.94% at R326, following the announcement of the conclusion of the commercialisation rights agreement that was entered into in June 2016. The agreement excludes certain territories, notably the US.
Under the terms of the agreement, Aspen had paid an initial $410m to commercialise the portfolio, with a further $110m paid on July 1 this year. Aspen will also make sales-related payments of up to $250m within two years of the completion of the agreement.
Aspen had also recently acquired the global anaesthetics portfolio, excluding the US, of GSK, which came into effect on March 1.
Aspen paid £180m, with further potential payments based on the results of the portfolio of up to £100m over the next three years.