GSK Sells Italian Research Unit To Aptuit

GlaxoSmithKline has agreed to sell its research unit in Verona, Italy, to the drug research group Aptuit, a deal which will see the transfer of around 500 staff. The financial terms of the deal were not disclosed, but Aptuit described the deal as a strategic acquisition that would "strengthen its scientific expertise and capabilities."

GSK announced in February its had decided to shed the facility as part of a program of cuts designed to improve returns on research and development (R&D). The firm said it was getting out of research into certain areas of neuroscience, including pain and depression.

"This partnership is an example of the developing new model of outsourced R&D collaborations," said Tim Tyson, Aptuit's chairman and chief executive. GSK said Aptuit would gain the scientific expertise and knowledge at the research center through the transfer of around 500 staff from GSK.

"This will help maintain the life sciences research and talent pool in Italy," it said in a statement.