Aspen is pleased to announce that Aspen Global Incorporated (“AGI”), a wholly owned subsidiary of Aspen Holdings, has entered into an agreement with Novartis AG in terms of which it will acquire the rights to Mono-Embolex®, an injectable anti-coagulant, for a consideration of US$142.3 million.
Mono-Embolex is a heparin based anti-coagulant sold in the same therapeutic category as Aspen’s Arixtra and Fraxiparine. This product is, however, the only low molecular weight heparin that offers patients weight-independent dosing, thereby combining ease of administration with the proven efficacy in prophylaxis and therapy of deep vein thrombosis.
The product presents an excellent strategic fit with the Group’s recent acquisitions in this therapeutic area and will be positioned as a simple-to-use once daily prophylaxis treatment supporting Aspen’s other current anti-coagulant offerings. As the product is only commercialized in Germany, Switzerland and Austria it presents Aspen with an opportunity to launch it in other countries. The product recorded revenue of EUR68 million in 2013.
The transaction is subject to the approval of the German competition authorities.
