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GSK raises $853 million by halving stake in South African drugmaker

2015-03-13 12:04:30| Biotech - Topix.net

GlaxoSmithKline has taken profits in Aspen Pharmacare by selling half its stake in the South African drugmaker for $853 million , following a long investment in the firm. The sale, which was conducted through a share placing at a discount to the market price, is the latest example of GSK pruning non-core investments as it refocuses its business and works to protect its sizeable dividend payments to shareholders.

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Category:Biotechnology and Pharmaceuticals

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