KUALA LUMPUR, Oct 22 (Bernama) -- Acino and Aspen Pharmacare Holdings Limited and its subsidiaries (collectively, Aspen) have signed an agreement for Acino to acquire six South African prescription medicines for over €105 million (R1.8 billion). (€1 = RM4.832)
“This agreement will fortify Acino’s presence in South Africa and enable us to expand our diverse portfolio of high-quality, innovative treatments that help improve people’s lives,” said Acino Chief Executive Officer, Steffen Saltofte.
Meanwhile, Aspen’s Group Chief Executive, Stephen Saad said: “The acquisition of these trusted brands in South Africa represents excellent scaling and commercial opportunities for Acino as it expands its footprint in South Africa by adding these products to its existing product portfolio.”
The acquired medicines are used for the treatment of gastroenterology, erectile dysfunction and cardiovascular diseases. The acquisition will further strengthen Acino’s footprint in South Africa by expanding their offering in these important therapeutic segments.
According to a statement, the transaction includes the Trustan®, Altosec®, Zuvamor®, Ciavor®, Grantryl® and Aspen Granisetron® brands.
To secure uninterrupted patient access to these medicines, the parties have also signed a manufacturing and supply agreement in terms of which Aspen will supply the Aspen manufactured products to Acino for a period of seven years.
This partnership is a compelling affirmation of Acino’s long-term strategy and purpose to increase people’s access to affordable healthcare in the areas where they need them most.
This acquisition comes on the heels of a series of other strategic investments, including the acquisition of a women’s health portfolio in Russia earlier this year and Takeda’s primary care portfolio in 2020.
The transaction is subject to customary closing conditions, including regulatory approvals. It is anticipated that the transaction will complete by Dec 31.
Acino is a Swiss pharmaceutical company headquartered in Zurich with clear focus on selected markets in the Middle East, Africa, Russia, the CIS Region, and Latin America. More details at www.acino.swiss.
-- BERNAMA
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