GlaxoSmithKline completes the sale of its stake in Aspen Pharmacare
GLOBAL pharmaceutical group GlaxoSmithKline has completed the sale of its stake in JSE-listed Aspen Pharmacare.This was "in line with its stated intention", Aspen, Africa’s biggest manufacturer of generic drugs, said in a Sens statement on Thursday. It would not affect the companies’ collaboration in SA or their trading relationship, and Glaxo chief strategy officer David Redfern would remain an Aspen board member.Glaxo began selling its stake in Aspen in November 2013, when it sold a third of its stake.In March 2015 it sold half of its remaining stake, saying it planned to invest in new priorities.It recently announced a €275m investment in three British plants.Aspen CEO Stephen Saad said on Thursday: "Aspen’s exceptional relationship with GSK and the many mutually beneficial trading activities between the companies remain unaffected by this disposal."We are pleased that Aspen shareholders are relieved of the uncertainty caused by GSK’s stated intention to dispose of its interests,...
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