CCI approves Aspen Global-GlaxoSmithKline deal
New Delhi : Competition Commission has cleared Aspen Global's deal to purchase certain drug brands from GlaxoSmithKline.
Ultiva, Tracrium, Nimbex, Mivacron and Anectine/Midarine certain brands would be acquired by Aspen along with goodwill and the intellectual property, among others.
In a tweet, Competition Commission of India (CCI) said it has approved "acquisition of Ultiva, Tracrium, Nimbex, Mivacron and Anectine/Midarine brands of GlaxoSmithKline by Aspen Global".
As per the notice submitted to the regulator seeking approval for the deal, Aspen would buy the five brands as well as the goodwill and the intellectual property, marketing authorisations, contracts, business information and business records associated with them. These would be acquired from Glaxo Group and GlaxoSmithKline Intellectual Property Ltd.
Aspen Global is a holding company for the Aspen Group's international businesses. Glaxo Group's subsidiaries produce pharmaceuticals, sports nutrition, and food products for infants.
Part of GSK Group, GlaxoSmithKline Intellectual Property Ltd's principal activities entail licensing out intellectual property rights relating to pharmaceutical products to the group, as per the notice.
Both entities are part of GSK Group.
Mergers and acquisitions beyond a certain threshold need approval from CCI.