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Glaxo pays Aspen R761m to end collaboration

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Cape Town - Aspen Global's local arm Aspen Pharmacare [JSE:APN] announced on Tuesday that GlaxoSmithKline (GSK) paid the JSE-listed company £45m (R761.07m) to end its sub-Saharan Africa (SSA) collaboration.

The payment officially ended the collaboration between the two pharmaceutical companies, after it announced on September 12 2016 that GSK would end its collaboration.

“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,” Pharmacare said in a statement on Tuesday.

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