GlaxoSmithKline acquires injectable anti-thrombotic agents Fraxiparine® and Arixtra®

GlaxoSmithKline plc announced today that they have signed an agreement regarding the acquisition, on a worldwide basis, of the injectable anti-thrombotic agents Fraxiparine® and Arixtra® and related assets including a manufacturing facility located in Notre-Dame de Bondeville, France from Sanofi-Synthelabo. The consideration for this transaction is EUR 453 million and will be satisfied by GSK in cash upon completion. As part of this transaction, GSK will assume responsibility for ongoing Arixtra clinical trials.

Sanofi-Synthelabo began the process to divest its interests in Fraxiparine and Arixtra in connection with its public offer to acquire all the outstanding ordinary shares of Aventis announced on January, 26th 2004. The closing of this divestiture transaction is conditional on Sanofi-Synthelabo successfully completing its offer for Aventis after obtaining the requisite clearances from EU and US competition authorities.

Fraxiparine® (nadroparine calcium) is a Low Molecular Weight Heparin and Arixtra® (fondaparinux sodium) is a synthetic factor Xa inhibitor. Sales of Fraxiparine® were EUR 319 million in 2003. World-wide sales of Arixtra® were EUR 24 million in 2003.

The manufacturing facility located in Notre-Dame de Bondeville, France is engaged mainly in the manufacture of Fraxiparine and Arixtra injectable products. This facility employs approximately 650 people.