Aspen’s pot of gold

    Aspen’s latest divestment brings its sales tally to R30bn in 18 months, bringing its debt under control and putting the group on a surer footing for growth — management says. Africa’s largest drug company, the JSE-listed Aspen, has sold the rights for its European thrombosis business to US pharmaceutical firm Mylan for R12.6-billion. It has, however, retained its thrombosis business in its core emerging markets including South-East Asia and sub-Saharan Africa. This is likely the last of the major disposals intended to refocus the business and cut debt.…

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Aspen set to sign deal with Indian supplier

Aspen Pharmacare is poised to sign a deal with an Indian company to provide it with the active pharmaceutical ingredients (APIs) used for making HIV/Aids drugs, CEO Stephen Saad said on Thursday, shortly after presenting the company’s annual results to investors. Aspen, SA’s biggest pharmaceutical manufacturer and one of its longest-standing suppliers of antiretroviral drugs (ARVs) to the government, has consistently said that the low-margin, high-volume business is vulnerable to exchange-rate fluctuations that affect the cost of imported APIs, which are priced in dollars These ingredients accounted for between 60%…

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