Aspen Pharma and Glaxosmithkline enter licensing deal

Iafrica.com news reports that Aspen Pharma of south Africa and GSK have sealed a licensing deal.

According to the report, Aspen , the leading drug giant in Africa will produce finished pharmaceuticals and therapies ready to use as a result of the IP from GSK. The licensed market crucially excludes Sub-Saharan Africa and India but covers other emerging markets. Product development will be carried out by Aspen and Onco Therapies, a company in which it owns 50% shares in a joint venture with Strides Arcolab of India.

From Aspen's Group Chief Executive, the benefits are clear as the agreement will "extend the worldwide reach of the Aspen business benefiting from GSK's excellent strength in branding and marketing." In his words, "GSK will achieve effective distribution for products in many countries which Aspen is presently unable to reach."

Products from this arrangement are expected to hit the market in 2010.