Sanofi to sell off interests to GSK

Published: 1-May-2004


Sanofi-Synthelabo has signed an agreement with GlaxoSmithKline to sell to GSK its worldwide interests in Arixtra, Fraxiparine, and related assets, including the manufacturing facility located in Notre-Dame de Bondeville, France. As part of this transaction, GSK will assume responsibility for ongoing Arixtra clinical trials. The deal is worth €453m in cash.

Sanofi began divesting its interests in the products when its bid for Aventis was announced in January. The closing of this deal is conditional on Sanofi successfully completing its offer for Aventis as well as on obtaining clearance from EU and US competition authorities.

Arixtra (fondaparinux sodium) is a synthetic factor Xa inhibitor and Fraxiparine (nadroparine calcium) is a low molecular weight Heparin. Worldwide sales of Arixtra reached €24m in 2003, while sales of Fraxiparine reached €319m in 2003.

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