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.
