Aspen identified Latin America as a large developing market where it can leverage its  substantial intellectual property portfolio and manufacturing infrastructure.

In November 2007 Aspen’s strategy of entering the rapidly growing Latin American branded, generic, and OTC pharmaceutical markets was realized. This territory is investing significantly in the pharmaceutical sector, and which, despite its high barriers to entry, is yielding double-digit healthcare growth.

Aspen announced a series of transactions with Strides, one of India’s largest exporters of pharmaceutical products. The transactions allowed for Aspen’s 51% acquisition of Strides Latina operating in Brazil as Cellofarm, in Mexico as Solara, and in Venezuela as Sumifarma. The transactions created an opportunity for Aspen’s South African manufacturing facilities to export product to the Latin American market.

Cellofarm and Solara both sell a range of generic products in a number of therapeutic areas, with a particular focus on sterile products in the hospital market. 

Solara manufactures a generic range of OSD forms at its Toluca-based Facility. Cellofarm has two manufacturing Facilities. The Vittoria-based facility manufactures generic OSD forms, creams and ointments while the Campos Facility is being built to US FDA standards for the manufacture of OSD forms as well as injectable penicillins and anti-biotics.