GSK completes extension of strategic collaboration with Aspen

GSK announced that yesterday it completed the extension of its strategic relationship with Aspen Pharmacare Holdings Limited (Aspen) and the acquisition of a minority shareholding in the South African based pharmaceuticals company. This is part of a wide ranging agreement which includes combining commercial activities in Sub-Saharan Africa and the divestment of several assets to Aspen

Issued: Tuesday 1st December 2009, London UK

GSK announced that yesterday it completed the extension of its strategic relationship with Aspen Pharmacare Holdings Limited (Aspen) and the acquisition of a minority shareholding in the South African based pharmaceuticals company.  This is part of a wide ranging agreement which includes combining commercial activities in Sub-Saharan Africa and the divestment of several assets to Aspen.

On completion, Aspen issued 68.5 million ordinary shares to GSK in consideration for the transfer of assets.  Taken together with Aspen shares acquired by GSK between signing and closing, this issue takes GSK’s holding in Aspen to a total of 81.7million shares, the equivalent of a 19% shareholding. 

In addition, Abbas Hussain, President Emerging Markets, GlaxoSmithKline will be appointed to Aspen’s Board of Directors as a non-executive director with effect from 7th December.

GlaxoSmithKline – one of the world’s leading research-based pharmaceutical and healthcare companies – is committed to improving the quality of human life by enabling people to do more, feel better and live longer.  For further information please visit www.gsk.com

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Cautionary statement regarding forward-looking statements Under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect GSK' s operations are described under 'Risk Factors' in the 'Business Review' in the company' s Annual Report on Form 20-F for 2008.