Aspen Pharmacare Buys Sandoz’s Business in China for Over €90 Million

Aspen continues to expand its business.  The South African pharmaceutical company has announced the purchase of the Chinese business of the Swiss group Sandoz, for which it is willing to pay up to $100.6 million (€92.6 million) , according to the company statement.

Of the more than €92 million, a total of €18.5 million will vary depending on the sales performance of the product portfolio  that Sandoz will launch in the short and medium term.

With this acquisition of the Swiss group,  the South African pharmaceutical company will acquire the marketing rights and intellectual property of several products in development and established such as Sandostatin, Voriconazole and Aclasta.

On the other hand, the company’s subsidiary,  Aspen Global Incorporated, will sell for €55.5 million, of which €9.3 million will depend on the performance of the sales of its products, the marketing rights and the intellectual property of four anesthetics, which the South African company currently sells in the European economic area to Sandoz.

Read more about the acquisition of Sandoz’s Chinese business by Aspen, and find the latest financial news of the day with our companion app Born2Invest.

This acquisition “provides the opportunity to add approximately €88.4 million annual sales to the Aspen Group”

Aspen CEO Stephen Saad said: “The acquisition represents an attractive opportunity for Aspen to take an important step in 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 Asia.”

This acquisition, “provides the opportunity to add approximately €88.4 million of annual sales to the Aspen Group, while  sales of anesthetic products during our financial year ending June 30, 2023 were approximately €13.7 million,” according to the company statement.

With a history of 170 years, Aspen is a multinational pharmaceutical company with a presence in both emerging and developed markets. It has approximately 9,100 employees, 23 manufacturing facilities in fifteen countries, on six continents. They work to improve the health of patients in more than 115 countries through their products. For the past 25 years the company has been listed on the JSE Limited.

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(Featured image by National Cancer Institute via Unsplash)

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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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