Aspen Pharmacare Set To Acquire Sandoz China
Aspen Pharmacare Set To Acquire Sandoz China. JSE-listed Aspen Pharmacare Holdings Limited, a global multinational specialty pharmaceutical company, has announced that Aspen Global Incorporated (“AGI”), its wholly owned subsidiary incorporated in Mauritius, has concluded two interdependent agreements with Sandoz AG (“Sandoz”) concerning the acquisition of Sandoz’s Chinese business and the disposal to Sandoz of four anaesthetic products in Europe.
The terms of the agreements provide for AGI to acquire from Sandoz the entire share capital of its subsidiary, Sandoz (China) Pharmaceutical Co., Ltd., together with the commercialisation rights and related intellectual property for a portfolio of established products currently commercialised by the company which includes key brands such as Sandostatin, Aclasta and Voriconazole; and a pipeline of products to be launched by the company in the short to medium term; and dispose of the commercialisation rights and related intellectual property for four anaesthetic products, namely Nimbex, Tracrium, Carbocaine and Naropin, currently sold by Aspen in the European Economic Area.
Stephen Saad, Aspen Group Chief Executive, said, “The acquisition represents an attractive opportunity for Aspen to take a major step in our stated strategic objective of increasing our presence in China. Sandoz’s product portfolio, pipeline, well-established infrastructure, and experienced team, will expand Aspen’s footprint and capabilities in the world’s second largest pharmaceutical market, and further strengthen our foundation for future growth in China.”
The acquisition provides the opportunity to add approximately R1.8 billion of annual sales to the Aspen Group, while the sales of the Anaesthetic products during its financial year ended 30 June 2023 were approximately R280 million.
With a 170-year heritage, Aspen is a global specialty and branded multinational pharmaceutical company with a presence in both emerging and developed markets. The company has approximately 9 100 employees at 69 established offices in over 50 countries as it aims to improve the health of patients in more than 150 countries through its high quality, affordable medicines.
