Sandton – Aspen welcomes President Ramaphosa’s inaugural Investment Conference, aimed at positioning South Africa as a preferred investment destination and at establishing a more predictable and stable investment environment in our country. Amongst other initiatives, this includes facilitating the ease of doing business and reducing unnecessary regulatory burden in the South African pharmaceutical sector. These initiatives are aimed at rewarding investors and contributing to higher levels of inclusive growth in the country.
Following the positive sentiment from the President’s announcement of a $100bn investment target and his recently released economic stimulus measures, Aspen is pleased to announce an additional R3,4bn capital expenditure investment at its Port Elizabeth manufacturing site, South Africa’s single biggest pharmaceutical investment.
“The President’s commitment to establishing a more predictable, stable investment environment and reducing regulatory burden in key economic sectors, such as the pharmaceutical sector, is very encouraging and supports Aspen’s decision to make this R3,4bn investment in sterile anaesthetics manufacture, a niche, high tech manufacturing capability that presents both domestic and export opportunities” said Stavros Nicolaou, Aspen Senior Executive, speaking at the conference.
During the announcement at the conference, Nicolaou added, “While Aspen operates manufacturing plants in many geographies, it has chosen South Africa as the location for its largest and most critical manufacturing facilities. Aspen is encouraged by the South African Government’s investment direction, but a number of regulatory hurdles remain in the pharmaceutical sector. Our latest investment undertaking is a clear vote of confidence in the President’s commitment to resolving these hurdles and establishing a more conducive investment climate in the sector, bringing with it the momentum for further pharmaceutical investments.”
Nicolaou concluded that, “Aspen has become one of the global leaders in a number of niche, specialty therapeutic segments, such as anaesthetic, high potency and injectable anti-coagulant products, which present highly specialised public and private health opportunities. The ongoing investment in our Port Elizabeth site will transform it into one of the world’s leading global hubs for anaesthetic products and will provide a tremendous economic boost for the Eastern Cape, one of the country’s most economically challenged provinces. This is an achievement that both Aspen and our country can be extremely proud of.”
Issued by:
Shauneen Beukes, Aspen Group Communications Manager
Tel: +27 (012) 661-8467: Cell: +27 82 389 8900
On Behalf Of:
Stavros Nicolaou
Cell: 082 458 3135
Stephen Saad, Aspen Group Chief Executive
Tel: +27 (031) 580-8603
Gus Attridge, Aspen Deputy Group Chief Executive
Tel: +27 (031) 580-8605
About Aspen
Aspen is a leading global player in specialty, branded and generic pharmaceuticals with an extensive basket of products that provide treatment for a broad spectrum of acute and chronic conditions experienced through all stages of life.
Aspen remains committed to its core values of providing quality and effective healthcare solutions to millions of patients in more than 150 countries, with its core focus being in the Thrombosis, Anaesthetic and High Potency & Cytotoxic therapeutic categories.
Aspen has a strong presence in both emerging and developed countries. Its emerging market footprint includes Sub-Saharan Africa, Latin America, China, South East Asia, Eastern Europe and the Commonwealth of Independent States, comprising Russia and the former Soviet Republics. It is also a leading pharmaceutical company in developed countries including Australia and most notably in Western Europe.
Aspen operates with an established business presence in approximately 50 countries spanning 6 continents and employs more than 10,000 people. The Group operates 26 manufacturing facilities across 18 sites. Aspen holds international manufacturing approvals from some of the most stringent global regulatory agencies including the FDA, TGA and EMA. Aspen’s manufacturing capabilities are scalable to demand and cover a wide variety of product-types including oral solid dose, liquids, semi-solids, steriles, biologicals, APIs and infant nutritionals.
Aspen is the largest pharmaceutical company listed on the JSE Limited (share code: APN) and ranks amongst the top 20 listed companies on this exchange. For more information visit: https://aspenholdings2.wpengine.com/
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