Injectable agents offloaded for 453 million Euros

GlaxoSmithKline today signed an agreement to acquire the injectable anti-thrombotic agents Fraxiparine and Arixtra, plus related assets, from Sanofi-Synthelabo for 453 million Euros.

GlaxoSmithKline (GSK) has today signed an agreement to acquire the injectable anti-thrombotic agents Fraxiparine and Arixtra, plus related assets including a manufacturing in France, from Sanofi-Synthelabo.

The consideration for this transaction is 453 million Euros and will be satisfied by GSK in cash upon completion. As part of this transaction, GSK will assume responsibility for ongoing Arixtra clinical trials.

Sanofi-Synthelabo began the process to divest its interests in Fraxiparine and Arixtra in connection with its public offer to acquire all the outstanding ordinary shares of Aventis.

The closing of this divestiture transaction depends on Sanofi-Synthelabo successfully completing its offer for Aventis after obtaining clearances from EU and US competition authorities.

In 2003, sales of Fraxiparine reached 319 million Euros, whilst worldwide sales of Arixtra reached 24 million Euros.

The manufacturing facility located in Notre-Dame de Bondeville, France is engaged mainly in the manufacture of Fraxiparine and Arixtra injectable products and employs approximately 650 people.