Glaxo sells 4 drugs to Aspen for 170 mln pounds

LONDON Mon Jun 30, 2008 8:46am EDT

A GlaxoSmithKline logo is seen outside one of its buildings in west London, February 6, 2008. REUTERS/Toby Melville

A GlaxoSmithKline logo is seen outside one of its buildings in west London, February 6, 2008.

Credit: Reuters/Toby Melville

LONDON (Reuters) - GlaxoSmithKline Plc (GSK.L) has sold four of its older drugs to a unit of South Africa's Aspen Pharmacare Holdings (APNJ.J) for 170 million pounds ($339 million), the world's second biggest drugmaker said on Monday.

The medicines involved are Eltroxin, a thyroid hormone for hyperthyroidism; Lanoxin, a cardiac glycoside for heart failure; Imuran, an immunosuppressant; and Zyloric, an enzyme inhibitor for the treatment of gout.

Aspen will own the four drugs in all major markets outside of the United States, except for rights to Zyloric in Japan.

The products largely no longer hold patent protection and last year recorded sales of around 80 million pounds in the markets concerned.

Glaxo said it would record a gain on the sale in the quarter ended June 30 but the company's earnings per share guidance for the year remains unchanged.

(Reporting by Ben Hirschler)

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