22 Aug 2012, BioSpectrum Bureau , BioSpectrum
Singapore: Sigma Pharmaceuticals has agreed to sell its over-the-counter and pharmaceutical divisions to Aspen Global. Unconfirmed news reports also said Indian drug maker Cipla will partner with Aspen to bring generics to the Australian market.
The company acquired the over-the-counter and pharmaceutical divisions of Australian drug maker Sigma Pharmaceuticals for $800 million.
Recently, Aspen Global reached an agreement with GlaxoSmithKline for the acquisition of a portfolio of 25 established pharmaceutical products that are distributed in Australia. The $270 million transaction is subject to the approval of the Australian competition authorities and the approval of the Australian Foreign Investment Review Board. The products comprise long established pharmaceutical brands of proven performance. They include well-recognized brands, including Amoxil, Augmentin, Imigran, Kapanol, Lamactil, Mesasal, Timentin, Valtrex, Zantac and Zofran.