GlaxoSmithKline will sell its anesthetic drug business to South Africa-based Aspen Pharmacare for up to $372 million.
Through the agreement, Aspen will pay about $239 million to obtain the rights to GSK's six anesthetic drugs — Ultiva, Nimbex, Tracrium, Mivacron and Anectine. Aspen is also eligible to earn up to about $133 million in milestone payments.
GSK previously sold the U.S. and Canadian rights to the six anesthetics and earned about $46 million for the drugs in the first half of 2016.
Aspen bought a majority of GSK's thrombosis drug portfolio in 2013, with the exception of certain areas, including China, India and Pakistan. The South African drugmaker will now acquire GSK's remaining rights to the drug.
Aspen and GSK will also end collaboration efforts in sub-Saharan Africa, with each company separately marketing their portfolios in the area.
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