Motieka & Audzevičius has acted as co-counsel together with Davenport Lyons, LLP based in London, in acquisition of complex pharmaceutical business worth € 650 million across 14 jurisdictions (including Lithuania). Our team has advised Aspen Group on the GSK pharmaceutical brands business transfer in Lithuania and performed the legal due diligence of the Lithuanian GSK.
Aspen Group, the 9th largest generic pharmaceutical company in the world, supplies pharmaceuticals in more than 150 countries across the world and MSD, an American company, the world leader in the field of health care, successfully agreed on the acquisition of the worldwide pharmaceutical ingredient manufacturing business. A value of transaction is of € 650 million.
As a part of the aforementioned transaction Aspen Group made an offer to GlaxoSmithKline PLC for acquisition of the three pharmaceutical brands business (the Arixtra and Fraxiparine / Fraxodi) worldwide which generates annual revenues of approx. € 480 million.
As one of Aspen Group primary strategic intents is to further globalize its business, increase its representation across a number of additional jurisdictions and provide support to its growing global presence with a differentiated pipeline, the transaction provides a platform to contribute to the achievement of such strategic intent by enabling Aspen Group to access pharmaceutical manufacturing business.
It is expected to complete the transaction at the end of 2013.