Slaughter and May is advising GlaxoSmithKline – divestment of non-core assets to Aspen

Slaughter and May is advising GlaxoSmithKline plc (GSK) on a series of agreements with the Aspen Group (Aspen) as part of GSK’s strategy of simplification through focusing on core therapeutic areas. GSK will divest its anaesthesia portfolio to Aspen for £180 million plus milestones of up to £100 million. GSK and Aspen have also entered into parallel agreements to terminate their collaboration in Sub-Saharan Africa and for Aspen to exercise its option to acquire GSK’s remaining thrombosis business in certain retained markets. The agreements are subject to regulatory and anti-trust approvals.

Slaughter and May is supporting the GSK legal team which is led by Elizabeth Planell and Katie Salmon.