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GlaxoSmithKline to divest thrombosis assets to Aspen

GlaxoSmithKline announced it has reached agreement to sell its thrombosis brands, Arixtra and Fraxiparine, and the Notre-Dame de Bondeville manufacturing site to The Aspen Group, the South African pharmaceuticals company, for GBP 0.7B in cash, of which GBP 0.1B relates to inventory. The net cash proceeds from the transaction after tax and transaction costs are expected to be approximately GBP 0.6B. The proceeds will be used for general corporate purposes. The net profit on disposal will be excluded from core operating profit and core EPS in 2013, Glaxo said.