GlaxoSmithKline will acquire a stake in the Japanese subsidiary of Aspen Pharmacare Holdings as part of an alliance to boost commercial operations in the Asian country.
Glaxo will transfer distribution rights to some products in Japan to the unit, in which it will own a 25 percent stake.
The balance will be held by the South African company, also Africa’s biggest generic drugmaker.
Aspen has been seeking a partner in Japan to get better access to the fast-growing market, Chief Executive Officer Stephen Saad said in an interview with Bloomberg TV Africa last month.
Aspen is expanding in Asia, Latin America and sub-Saharan Africa to exploit growing demand for medicines in those regions and offset slower growth in its home market.
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