GlaxoSmithKline - Agreement with Aspen Pharmacare Holding

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Slaughter and May is advising GlaxoSmithKline ("GSK") on its agreement to extend its relationship with Aspen Pharmacare Holding ("Aspen"), Africa’s largest pharmaceutical manufacturer.

As part of a wide ranging agreement, GSK and Aspen will combine commercial activities in sub Saharan Africa, GSK will divest certain products and a German manufacturing facility to Aspen and GSK will acquire a 16% shareholding in Aspen (having a current market value of approximately £270 million). The transaction that was announced on 12 May 2009, is subject to regulatory approvals and is expected to complete by the end of 2009.

The transaction was led for GSK by an in house legal team supported by a team from Slaughter and May. Webber Wentzel advised GSK on South African matters and Lovells (Munich) advised GSK on German matters.

David Johnson (partner), Chris McGaffin (associate); Intellectual Property: Susie Middlemiss (partner), Louisa Christofidou (associate), Laura Hillier (associate)

GSK in-house legal team: Kathryn Farthing, Nicola Fell, Ned Fenston, Ian McGibbon