GSK Restructuring Could Benefit Local Pharma Companies

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GlaxoSmithKline has invited private equity firms to consider making offers for a range of its older drugs, according to two people with direct knowledge of the matter.

The move is part of a reshaping of the drugmaker’s business, which also involves a major asset swap deal with Novartis.

Chief Executive Andrew Witty said last month that Britain’s biggest pharmaceuticals company could dispose of individual medicines or a broader portfolio of older established products. A GSK spokesman had no further comment on potential disposals on Thursday.

Earlier this year Crealta acquired all of Savient Pharmaceuticals’ assets at auction. The key asset acquired by Crealta is KRYSTEXXA (pegloticase), a novel biologic product that was approved by the FDA in 2010. KRYSTEXXA is a PEGylated uric acid specific enzyme, or uricase, that has been shown to statistically significantly reduce uric acid levels for many patients with refractory chronic gout.

“We are tremendously excited to have completed the transaction, and more importantly, to ensure the continued availability of this critical product,” commented Ed Fiorentino, Chairman and CEO of Crealta. “Crealta is committed to providing outstanding support and service to healthcare professionals and the patients that they serve with refractory chronic gout.”

Crealta was established in August 2013 in partnership with GTCR, one of the nation’s leading private equity firms.

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