GSK, Aspen to partner on commericalization and distribution

7/24/2008

LONDON GlaxoSmithKline plans to edge its way into emerging markets through a partnership with South African generic drug maker Aspen, GSK announced Wednesday.

The partnership, which also includes Aspen’s joint-venture partner Strides Arcolab, GSK will gain access to Aspen’s 1,200 drugs and share profits based on sales. GSK will also seek approval of drugs in other countries and take responsibility for commercialization and distribution, while Aspen will continue selling them in sub-Saharan Africa.

GSK expects emerging markets to grow by 13 percent and account for 40 percent of growth in the pharmaceutical market by 2020.

“Today’s announcement demonstrates our intention to catalyse GSK’s sales growth in emerging markets where growth in both population and economic prosperity is leading to increased demand for branded pharmaceuticals,” GSK chief executive officer Andrew Witty said. “This collaboration gives us access to a renewable, high-quality and competitively priced source of branded pharmaceuticals in high-demand therapeutic areas.”

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