SOUTH AFRICA – South African pharmaceutical Aspen has finalized an agreement with Switzerland Acino Pharma AG for Acino to acquire six South African prescription medicines from Pharmacare Limited, a subsidiary of Aspen Holdings.
Acino is a Swiss pharmaceutical company that delivers quality medical products to promote affordable healthcare in emerging markets in Africa and other regions.
The firm leverages its high-quality pharmaceutical manufacturing capabilities and network to supply leading companies with medicines through contract manufacturing and out-licensing.
Aspen announced that all important material conditions have been fulfilled and closed the transaction at the cost of approximately R1.8 billion (US$120m) which will strengthen Acino’s footprint in South Africa.
The companies also signed a manufacturing and supply agreement to secure uninterrupted patent access to the selected medicines where Aspen will supply the Aspen manufactured products to Acino for a period of seven years.
The acquired medicines include the Trustan®, Altosec®, Zuvamor®, Ciavor®, Grantryl® and Aspen Granisetron® brands which are used for the treatment of gastroenterology, erectile dysfunction and cardiovascular diseases.
As part of the partnership, Acino has a long-term strategy and purpose to increase people’s access to affordable healthcare in the areas where they need them most in South Africa.
The Swiss pharmaceutical aims to significantly contribute to the South African economy by providing best-in-class products and service to patients and healthcare practitioners as well as creating employment opportunities.
It will also expand its diverse portfolio of high-quality, innovative treatments that help improve people’s lives across South Africa.
The partnership with Apen will allow Acino to use in-depth expertise and experience in the market to enhance the value of the selected acquired medical brands.
Aspen is a multinational pharmaceutical company that improves the health of patients in more than 150 countries through its high quality, affordable and effective healthcare solutions.
The Group’s key business segments are manufacturing and commercial pharmaceuticals involving regional brands and sterile focus brands such as anesthetics and thrombosis products.
The leading pharmaceutical operates 23 manufacturing facilities across 15 sites and holds international manufacturing approvals from major global regulatory agencies.
Its manufacturing capabilities cover a wide variety of product-types including sterile, oral solid dose, liquids, semi-solids, biologicals and active pharmaceutical ingredients.