Aspen Pharmacare Would Secure GSK's EM Expansion

UK drugmaker GlaxoSmithKline (GSK) is planning to purchase a minority 10-25% stake in South Africa's generic pharmaceutical firm Aspen Pharmacare in a move that, if successful, CFW believes would be a major driver in the firm's aggressive shift into developing countries in the Middle East, Africa and Latin America. The planned minority stake will place GSK in line with this objective, particularly since Aspen recently announced growing revenues from its overseas markets. In addition, in July 2008, Aspen agreed deals with GSK worth around US$253mn for the worldwide rights (excluding the US) to some of the UK firm's key products,

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