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APNASPENAspen Pharmacare Hldgs236900 (0.00%)

Aspen is in a closed period from 1st July 2024 until the publication of the FY2024 results on the JSE SENS platform to be released on the 3rd September 2024.

World-Class Oral Contraceptive Facility opened

East London – Bevan Gogwana, MEC for health in the Eastern Cape officially opened Aspen Pharmacare’s Oral Contraceptive manufacturing facility earlier today.

 

Stephen Saad, Group Chief Executive of Aspen Pharmacare, Southern Africa’s largest JSE-listed pharmaceutical company, said “the world-class oral contraceptive facility has been designed, built and validated to European standards, and has the capacity to produce between 24 and 30 million oral contraceptive packs per year”.

 

Aspen Pharmacare supplies the majority of the state’s requirements for oral contraceptives.  The newly opened facility forms part of the company’s East London operation, which it is estimated would cost over R160 million to replace.

 

Saad said “a number of international pharmaceutical manufacturers have strongly endorsed Aspen Pharmacare’s standards and manufacturing processes. This was demonstrated through Wyeth International licensing Aspen Pharmacare to manufacture, market and distribute their oral contraceptives, among other products, from the East London facility”.

 

“It is also strategic that local businesses assist government in addressing the needs prevalent in the health sector. As such, Aspen Pharmacare introduced training and skills development enrichment programmes, and in association with the Department of Health and the South African Health Services, has trained and improved the skills of more than 120 nurses.”

 

In addition, Aspen Pharmacare has made a contribution to primary health care in this region. Engcobo Clinic, which was officially opened by Nelson Mandela earlier this month, provides the community with a fully functional delivery room for pregnant women, doctors’ consulting rooms, nurses’ training facilities and a medicine dispensary.  The trainee nurses receive on-the-job training and Aspen Pharmacare has provided all computer equipment and infrastructure to support the training. Due to limited facilities in the area, Engcobo Clinic also assists with the overflow of patients who cannot be attended to at the All Saints Hospital.

 

Commenting on the outcome of the recent court case between government and the

Pharmaceutical Manufacturers Association, Saad said that Aspen Pharmacare was extremely positive about the result. “We are able to manufacture much needed generic anti-retroviral drugs for HIV/Aids patients, and are presently awaiting government’s decision regarding the process that will be followed in this regard.”

 

Saad confirmed that an announcement was imminent concerning a joint venture agreement with an Indian based company to supply raw materials for the local manufacture of generic antiretroviral drugs, which would enable further cost savings for their products throughout Africa.

 

“The impact of legalised generic substitution of medicines is however the main coup for the broader community as well as for Aspen Pharmacare. Medicines account for approximately 33 percent of medical aid expenditure, and through legislated generic substitution medicines, medical aid allocations could be managed more efficiently through the reduction of the cost of medicines. Currently the market split between generic and ethical medicines is 20 : 80, with changes expected to these statistics as a consequence of the above legislative promulgations.

 

Aspen Pharmacare, although actively involved in the manufacture of ethical, as well as over the counter (OTC) and personal care products, is South Africa’s largest generic producer.

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Closed Period

Aspen is in a closed period from 1 January until the publication of our interim results on the JSE SENS platform scheduled to be released on 1 March 2023.

The live presentation will take place in Cape Town at 08h30 on 2 March 2023.