Durban, South Africa – JSE-listed Aspen Pharmacare Holdings Limited, a global multinational specialty pharmaceutical company, has announced that Aspen Global Incorporated (“AGI”), its wholly owned subsidiary incorporated in Mauritius, has concluded two interdependent agreements with Sandoz AG (“Sandoz”) concerning the acquisition of Sandoz’s Chinese business and the disposal to Sandoz of four anaesthetic products in Europe. The terms of the agreements provide for AGI to: Stephen Saad, Aspen Group Chief Executive, said, “The acquisition represents an attractive opportunity for Aspen to take a major step in our stated strategic objective of increasing our presence in China. Sandoz’s product portfolio, pipeline, well-established infrastructure, and experienced team, will expand Aspen’s footprint and capabilities in the world’s second largest pharmaceutical market, and further strengthen our foundation for future growth in China.” The Acquisition provides the opportunity to add approximately ZAR 1.8 billion of annual sales to the Aspen Group, while the sales of the Anaesthetic Products during our financial year ended 30 June 2023 were approximately ZAR 280 million. As consideration for the Acquisition, AGI is paying up to EUR 92.6 million, with EUR 18.5 million contingent upon the sales performance of the Pipeline Products. For the Disposal, AGI will receive a consideration of up to EUR 55.5 million, with EUR 9.3 million contingent on the sales performance of the Anaesthetic Products. AGI will fund the net upfront cash consideration from existing debt facilities.
