To further expand its footprint in the anaesthetics field, healthcare solutions provider Aspen Pharmacare has signed agreements with a number of GlaxoSmithKline’s (GSK’s) subsidiaries to acquire a portfolio of anaesthetics globally.

The portfolio, which comprises five established medicines, including Ultiva and four muscle relaxants Nimbex, Mivacron, Tracrium and Anectine, will further tie in with the company’s expansion strategy into niche therapeutic categories that complement its existing operations.

These products are sold in more than 100 countries worldwide, including Japan, Brazil, Korea, Germany and Italy, and Aspen expects the portfolio to generate revenue of £70-million in the year to December 31.

Aspen Global Incorporated (AGI) will pay an initial amount of £180-million and milestone payments of up to £100-million based on the results of the portfolio in the 36 months following completion of the deal.

AGI and GSK have also signed a supply agreement whereby GSK will continue to supply the products to AGI in the medium term.

The commercial activities will transition to AGI in the short-to-medium term in accordance with an agreed plan. During the transition period, GSK will continue to provide certain services to AGI.

The transaction is subject to customary closing conditions and is anticipated to complete during the third quarter of Aspen’s 2017 financial year.

Meanwhile, as part of its acquisition of the thrombolytic products Fraxiparine and Arixtra from GSK in 2014, AGI also acquired an option to acquire the same products in certain countries to which GSK retained the rights, most notably China.

AGI has exercised its option to acquire Fraxiparine and Arixtra in these countries for £45-million. The acquisition will be funded from existing funds.

The acquisition of the thrombolytic products in China creates synergistic opportunities with the recent acquisition of the commercialisation rights to AZ anaesthetics which have a material presence in that country.

The estimated £30-million revenue generated from the sale of the thrombolytic products in China, added to the much higher level of sales of AZ anaesthetics in that country, provides Aspen with a sizeable footprint in key hospital therapeutic areas in China.

Further, Aspen’s wholly owned subsidiary, Pharmacare and GSK have agreed to cancel the rights of Pharmacare to collaborate in the sub-Saharan Africa business.

These rights were acquired as part of a basket of transactions with GSK in 2009. GSK will pay Pharmacare £45-million as consideration for the cancellation of the sub-Saharan Africa collaboration.