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Johannesburg – JSE listed Aspen Pharmacare Holdings Limited (Apn) has announced today that it has entered into licensing and supply agreements with leading multinational pharmaceutical corporation, GlaxoSmithKline (“GSK”). In terms of the agreements Aspen will license intellectual property and supply finished dosage form pharmaceuticals to GSK through Aspen Group companies including Onco Therapies Limited (“OTL”), Aspen’s 50% owned joint venture with Strides Arcolab Limited (“Strides”) of India. The licensing and supply agreements are for emerging market territories excluding Sub-saharan Africa and India. Aspen and OTL will recover intellectual property development costs from GSK in addition to sharing profits with GSK from the commercialization of the products. Stephen Saad, Aspen Group Chef Executive said “We see this as a great opportunity to extend the worldwide reach of the Aspen business benefiting from GSK’s excellent strength in branding and marketing. GSK will achieve effective distribution for products in many countries which Aspen is presently unable to reach. This deal further endorses the quality of Aspen’s development of intellectual property and its manufacturing capabilities. The inclusion of the OTL joint venture adds an additional dimension to the products we have been able to offer to GSK and I would like to commend the significant contribution from Strides in this regard.” The first of the products commercialised under this arrangement is expected to be launched in 2010. Aspen Overview South African-based JSE-listed Aspen is Africa’s largest pharmaceutical manufacturer and a major supplier of branded and generic pharmaceutical, healthcare and nutritional products to southern Africa and selected international markets. Aspen has businesses in, inter alia, South Africa, Australasia, India, East Africa, and also exports to many other territories across the globe. Aspen’s 50% shareholding in Strides Latina provides for a Latin American presence in Brazil, Mexico and Venezuela. In June 2008 Aspen acquired four core branded GlaxoSmithkline products namely Eltroxin, Imuran, Lanoxin and Zyloric. This deal provides Aspen with access into more than 100 countries globally. Aspen is acknowledged as the largest generics manufacturer in the southern hemisphere and it is also the leading supplier of generic medicines to both the private and the public sectors in South Africa. Aspen is one of the top twenty generic manufacturers worldwide and South Africa’s number one generic brand. Aspen is also a leading global player in generic anti-retrovirals. Aspen produces more than six billion tablets and capsules per annum and it also manufactures liquids, creams and others products. Aspen’s extensive basket of branded, generic, over-the-counter, FMCG, personal care and nutritional products is renowned for its quality, efficacy and affordability. Aspen’s substantial and ongoing investment in its manufacturing facilities has positioned the Group optimally to manufacture and supply a vast range of products across a number of continents.

Johannesburg – JSE listed Aspen Pharmacare Holdings Limited (Apn) has announced an investment by its offshore subsidiary, Aspen Global Incorporated, of GBP 170 million (approximately R2.7 billion) for the acquisition of four pharmaceutical products from GlaxoSmithKline (GSK). Aspen Global has acquired the intellectual property rights to the branded pharmaceuticals Eltroxin, Imuran, Lanoxin and Zyloric for all major markets worldwide with the exception of the USA and Zyloric in Japan. The deal substantially expands Aspen’s international business with the four products presently generating in excess of R1 billion in sales annually. Stephen Saad, Aspen Group Chief Executive said “This landmark transaction accelerates our strategy of global expansion, while simultaneously adding specialist and differentiated products to complement our existing vast product portfolio. We are confident that Aspen’s global distribution network will continue to supply these important products to patients across the world and we look forward to further expanding on the range of Aspen products marketed internationally through this network.” This transaction bodes well for Aspen’s globalization initiatives, building on their recent Latin American and East African investments. Aspen currently has affiliates in Asia, Australasia, Latin America and East Africa. The deal extends Aspen’s reach into major markets such as Japan and Europe. Stephen Saad said “This is a really exciting deal for Aspen which fits perfectly with our international expansion plans and should provide manufacturing opportunities for the Group in the future. The transaction has been made possible by the mutually beneficial and valued relationship which the Aspen Group has enjoyed with GSK over a number of years.”. The four products enjoy strong brand presence across more than 100 countries. Eltroxin is indicated for the treatment of hypothyroidism; Imuran is an immunosuppressant indicated, inter alia, for the survival of organ transplants; Lanoxin is indicated for certain heart conditions including heart failure; and Zyloric is administered for the treatment of gout. GSK will continue to manufacture these complex products for Aspen under terms of an initial supply agreement. The transaction also makes provision for a transitional distribution arrangement with GSK. Aspen currently markets a number of GSK prescription products into the South African market. Aspen Australia also holds the licence to market and distribute a portfolio of GSK products into the Australian OTC market.

Aspen Pharmacare Holdings Limited is pleased to announce the conclusion of a deal for the acquisition of 60% of the share capital of Shelys Africa Limited, with operations in East and Central Africa with effect from 01 May 2008. Shelys Africa Limited is the holding company of a group of East African pharmaceutical companies (“the Shelys Group”). The principal operations include Shelys Pharmaceuticals in Tanzania and Beta Healthcare International in Kenya. The Shelys Group reported consolidated revenue of USD 38 million for 2007. Shelys Pharmaceuticals was established in 1984 and holds a strong position in the Tanzanian market. Products are currently exported into other parts of East and Central Africa and initiatives are in place to expand further into the Central African market. The manufacturing facility in Dar-es-Salaam has recently been upgraded and is capable of manufacturing solids, liquids, capsules and penicillins. Shelys Pharmaceuticals’ diverse product portfolio covers key therapeutic groups, including: Pain and fever management Coughs and Colds Anti-malarials Antibiotics/Antimicrobials; and Contraceptives. Beta Healthcare has its origins with UK’s Boots International and joined the Shelys Group in 2003. The company has a product portfolio comprising predominantly of OTC’s and some branded pharmaceutical products. Beta Healthcare’s domestic customer base is spread throughout Kenya. Export sales are generated from other parts of East and Central Africa, including Tanzania, Uganda, Rwanda and Congo. The Shelys Group offers good manufacturing capabilities and a strong brand presence in the Central and East African regions. The group’s product offering is complimented by Aspen’s diverse product range and its strong distribution network facilitates immediate access into large parts of East and Central Africa. Furthermore, Aspen is able to offer extensive manufacturing and commercial expertise to the Shelys Group. The deal creates a tremendous opportunity for Aspen to leverage its strengths and extend its reach into Africa. This is aligned to the stated objective of providing quality, affordable medication throughout Africa. Aspen Group CEO, Stephen Saad, stated: “We are proud to have formed a strategic partnership with an established pharmaceutical leader in Africa. The Shelys Group shares our views on healthcare for Africa and offers excellent distribution capabilities”. Shelys Africa Group Chairman, Mr Jayesh Shah, commented that the tie up with Aspen would create a formidable group in the pharmaceutical sector in the East and Central African region and that this partnership would allow Shelys to greatly benefit from Aspen’s wide product range, technical expertise and market coverage.

Johannesburg South Africa, and Bangalore, India: Aspen Pharmacare (Aspen), Africa’s largest pharmaceutical manufacturer and the largest generics manufacturer in the southern hemisphere, has entered into a series of transactions with Bangalore-based Strides Arcolab Limited (Strides), one of India’s largest exporters of pharmaceutical products. The transactions comprise: the acquisition by Aspen of 50% of Strides’ Latin American operations (“Strides Latina”). Strides Latina is an operation owned by Strides Arcolab Limited mainly operating in Brazil as Cellofarm and in Mexico as Solara, with a marketing and trading operation in Venezuela as Sumifarma; the formation of a 50% joint venture with Strides to develop, manufacture and commercialise a range of oncology products on a global basis through Powercliff Limited (“Powercliff”) and Onco Therapies Limited (“Onco”); the acquisition by Strides of a 51% interest in Co-pharma Limited (“Co-pharma”), Aspen’s 100% owned United Kingdom-based subsidiary; and the acquisition by Strides of 80% of the equity in Formula Naturelle (Pty) Ltd which will, in turn, own a basket of nutraceutical products currently marketed by Aspen Pharmacare in South Africa. Arun Kumar, Strides’ Vice Chairman and Managing Director said “we are delighted to enhance the already rewarding partnership with Aspen and to broaden the strategic relationship into a global partnership through the four transactions being announced today. Aspen has been Strides’ first key partner and I am particularly delighted that the partnership has grown, based on strong fundamentals of capability and trust. ——————————————————————————– It has always been a delight working with Aspen and with this new alliance, and I am extremely confident that we will create significant new value for both companies. Having worked with Stephen Saad, Gus Attridge, Aspen’s Deputy Group CE and their management team, this strategic conclusion will be ground breaking in many respects and I look forward to working closely with them to create a solid regional Pharma company in Latin America. The opportunity to create a leading oncolytics operation in a niche and difficult domain, bodes well for the Oncolytics JV. Stephen Saad, Aspen Group Chief Executive said “we have worked closely with Strides since 2003. The close collaboration of the past 4 years has resulted in Strides becoming a significant manufacturing and development partner to Aspen in both Africa and Australasia. Today, I am happy to announce that we will forge an even closer partnership. This partnership will be extended to Latin America, Global Oncolytics, Co-pharma in the UK, and Nutraceuticals in South Africa. It has always been a part of the Aspen strategy to enter the Latin American pharmaceutical market. However, until now, we had been unable to find a platform company through which to enter these markets. We were fortunate enough that, through Strides, we have a partner who has had experience and success in this market. Cellofarm is the number two player in the Brazilian hospital market. Furthermore, it has sufficient presence to begin the process of leveraging Aspen’s extensive product portfolio into these markets. The addition of Aspen’s existing intellectual property (IP), Aspen’s front end marketing capabilities, and the combined pipelines of Strides will give impetus to Cellofarm in these branded generic markets. These markets are challenging and have high barriers to entry and, given this launch pad, they should prove key markets into the future for leveraging the significant IP that already vests with Aspen, as well as roll-out of the local manufacturing facilities. Strides and Aspen have a shared vision regarding sterile manufacture and the extension to Oncolytics will complete the basket to the existing capabilities that we are developing around hormonal and other sterile capabilities. ——————————————————————————– We are excited by the opportunity these initiatives offer our organisations. I would also like to thank Arun Kumar, the Vice Chairman and Managing Director of Strides and his team for their efforts in achieving the above. Aspen has been privileged to have enjoyed this close partnership with Strides and from this we have drawn much confidence as we take this partnership to the next level. These investments in Latin America and Oncolytics are important strategic steps in the internationalisation of Aspen which I expect should be value enhancing for Aspen’s shareholders in the medium term. Furthermore, we have sold a majority share in Co-pharma and our South African Nutraceuticals business. We believe the Strides business model is better suited to creating value in these businesses.” The completion of the transactions is subject to the signing of legal agreements and is subject to the Exchange Control approval of the South African Reserve Bank and the approval of the Reserve Bank of India and Strides’ bankers and other financial institutions, as appropriate. Issued by: Shauneen Beukes, Shauneen Beukes Communications Tel: +27 12 661 8467 : Cell: 082 389 8900 Fax: +27 088 12 661 8467 On Behalf Of: Stephen Saad, Aspen Group CE Tel: +27 31 580-8602 Fax: +27 31 580 8640 Gus Attridge, Aspen Deputy Group CE Tel: +27 31 5808604 Fax: +27 31 580 8640 aspenpharma.com Arun Kumar, Strides Vice Chairman & MD or Ravi Seth, Strides Group CFO Tel: +91 80 6658 0110 Fax: +91 80 6658 0200 www.stridesarco.com Harini Iyengar, Adafctors PR, Bangalore Tel: +91 80 4113 32062/64 Fax: +91 80 4113 3059 ——————————————————————————– The Transactions Details of each of the transactions outlined above are as follows: a) Aspen will acquire a 50% interest Strides Latina via the acquisition of shares from Strides for US$ 58.5 million and the subscription for shares in Strides-Aspen Latina (owned 100% by Strides) for US$94 million. This consideration is subject to adjustment should the earnings for the year following the effective date not reach certain levels. Following the first year after the effective date, Aspen will have an option to buy, and Strides to sell, Strides remaining 50% interest in Strides Latina. b) Aspen and Strides will enter into a 50% joint venture to develop, manufacture and commercialise oncology products. Aspen will purchase 50% of the issued share capital of Powercliff from Strides for US$25.75 million and will subscribe for 49% of the share capital of Onco and… Continue reading Aspen and Strides Enter Into Broad and Strategic Partnership