Lovells

On 12 May 2009, the GlaxoSmithKline group (GSK) and South African pharmaceutical company Aspen Pharmacare Holdings announced a global transaction in the amount of US$418 million. In the future GSK will hold 16% of shares in the biggest African producer of generic drugs. In return, a pharmaceutical production site in Bad Oldesloe in Schleswig-Holstein and eight special pharmaceuticals were transferred to Aspen.

In Germany, Lovells advised GSK in the sale of the GSK industrial premises and the conjunction of production lines in particular. During this part of the transaction, which comprised almost all practice areas, the long-established headquarters in Bad Oldesloe was the central focus as - in the medium term - it will be acquired by Aspen. In this factory, 350 employees produce pharmaceuticals for 130 countries worldwide.

GSK's cooperation with Aspen is in line with its strategy to expand its business in emerging markets. GSK is the second largest pharmaceutical company worldwide.

The Lovells team for GSK was led by Eckard Schwarz (employment), with assistance from partners Bernd Klemm (pensions), Christoph Hiltl (corporate commercial), Jörg Paura (corporate) and Marc Schweda (competition).  Also advising were Leif H. Hansen (employment), Anne Lachmund (pensions), Illja Schneider (corporate), Dirk Debald and Nadine Haselmayer (both real estate), Jan Eggers (competition) and Stefan Schultes-Schnitzlein and Christian Keese (both tax).