Leading global law firm Baker McKenzie has advised GSK on the proposed sale of its USD 500 million Cephalosporin antibiotics business to Sandoz, a Novartis division. Sandoz will pay GSK USD 350 million at closing, plus additional milestone payments up to USD 150 million, subject to the terms of the transaction.

Cephalosporin antibiotics are a well-established class of antibiotics used to treat a range of bacterial infections. The products being divested include the Zinnat, Zinacef and Fortum brands all of which are now off-patent. The transaction includes the Zinnat, Zinacef and Fortum brands in all markets except India, Pakistan, Egypt, Japan (relating to local Fortum brands) and China (excluding Taiwan, Hong Kong and Macau).

Melanie Howard M&A partner in the Corporate practice at Baker McKenzie in London commented, “We are delighted to once again assist our long-standing client GSK, with its continuing strategic business aims. This transaction is the latest in a string of deals we have helped GSK with".

The Baker McKenzie team was led by partners Melanie Howard, Jane Hobson and Duncan Reid-Thomas, and supported by associates Patrick Edwards, Charlotte Harrington, Matthew Vaghela, Ushira Kapoor, Brent Esler, Kate Austin and Angus Duncan. The team was supported by anti-trust lawyers Paul Johnson, Anthony Gamble, and Samantha Zakka; employment lawyers Kim Sartin, Anthony Hollands and Aaron Grant; and intellectual property lawyers Hiroshi Sheraton and Katrina Thompson.

The transaction is expected to close in H2 2021, subject to regulatory clearances.
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