China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
Glaxo sells 4 drugs to Aspen for 170 mln pounds
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)
