GSK Consumer will sell its portfolio of anesthetic drugs to South Africa's Aspen Pharmacare for 280 million pounds ($372 million) as part of a drive initiated by the British drugmaker to focus on core therapy areas. The two firms, have a long history of working together, reported on Monday that Aspen would pay sum amouting to 180 million pounds for the products Ultiva, Tracrium, Nimbex, Anectinein and Mivacron, also up to 100 million pounds in milestone payments. GSK Consumer, which had previously sold the U.S.and Canadian rights to the drugs, earned approximately 35 million pounds from the anaesthetics in the first half of 2016. Aspen is also acquiring rights to the remaining GSK thrombosis drug portfolio, whereas the two companies have decided to end a broader collaboration in sub-Saharan Africa. The South African group obtained most of the thrombosis drug rights in 2013, but GSK had maintained certain territories, including China, India and Pakistan.
GSK Consumer share price went down 0.46%. The stock opened at Rs. 6100 as compared to its previous closing at Rs. 6128.35. The stock touched the days high and low at Rs. 6150 and Rs.6080. Today’s trading session saw 14,087 shares are traded in the counter with a traded value of Rs. 859.48, as per NSE.
GSK Consumer share price is one of the top 500 performing stocks for this quarter owing to its strong fundamentals. The 52 week high of is observed at Rs. 6,800.00 on 23rd Dec ’15 while the 52 week low is seen at Rs. 5,405.00 on 1st March ‘16. The market cap of the company amounts to Rs. 25773.11 (Cr) and has a book value of Rs. 581.52. In order to acquire further details on the support and resistance refer to GSK Consumer share price forecast.
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