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Aspen is a widely accredited and compliant manufacturer and supplier of quality affordable medicines. Our scale and capabilities allows us to manufacture complex products competitively. Our investment in sterile manufacturing production capacity positions us as a niche specialty sterile manufacturer. Our efficient supply chains ensure our medicines are delivered on time, supporting healthcare systems across the globe.

2019 (CER)
API 6 115 5 261 16
FDF 1 388 1 317 5
Total 7 503 6 578 14
Gross profit percentage 30,1% 27,6%


of total group revenue



Manufacturing revenue increased 14% to R7 503 million in the period under review. COVID-19 disruption on the supply of APIs was minimal due to comfortable safety stock levels and internal manufacturing capabilities.


API sales contributed 82% to revenues in the Manufacturing segment and increased 16% to R6 115 million. The growth in revenue was driven by both heparin and non-heparin API sales. During the COVID-19 lockdown, API supply became restricted as global logistics were interrupted due to border closures and increased demand for medicines which placed pressure on the global pharmaceutical supply chain. Aspen’s API facilities continued to operate as allowed by the relevant country’s regulations and maintained a consistent supply of APIs. Additionally, increased demand for certain APIs used in the treatment of COVID-19 patients delivered strong growth.


FDF sales contributed 18% to revenues in the Manufacturing segment and increased 5% to R1 388 million. Growth in full year sales were delivered largely in H2 2020.


We have invested in significant manufacturing capacity that will enable us to manufacture complex sterile products at high quality standards. This sterile capacity enhances our existing offering of oral solid dose, liquids and semi-solids manufacturing. The strategic capital expenditure projects underway, are at various stages of completion between our three sites: Port Elizabeth in South Africa, Notre Dame de Bondeville in France and Bad Oldesloe in Germany. These strategic projects are scheduled for completion in FY2023 with full commercial benefits to be realised in FY2024.

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