SA's Aspen Pharmacare completes sale of its Japanese arm
Monday, 03 February 2020 16:21
South African pharmaceutical company Aspen Pharmacare Holdings has completed the sale of its Japanese operation- Aspen Japan K.K- to Sandoz.
When the sale was initially announced in November 2019, Sandoz said it would invest €300 million ($331.9 million) to obtain full stake in Aspen Japan. The company had also agreed, subject to the fulfillment of certain conditions, to pay an additional amount not exceeding €100 million. According to Stephen Saad, CEO of Aspen, "this Transaction complements our stated strategic intent to focus on our core pharmaceutical business in markets that offer scale and alignment to our business model.” Thé sale operation is also part of the company's desire to reduce its debt burden.
For Sandoz, Japan represents the third-largest market for generic and non-patented drugs in the world. This acquisition of Aspen Japan will allow Sandoz to strengthen its position in this market.
As a reminder, Aspen Japan’s activities contributed R2.1 billion to Aspen’s revenue during the financial year ended June 30, 2019.
Chamberline Moko
Live News
-
Cameroon Flags 700,000 Undeclared Phones Under New Customs System
21:05
-
Egypt Reviews $5 Billion Green Ammonia Project Backed by Renewable Energy
20:54
-
Germany Helps Cameroon Structure €32 Billion Infrastructure Project Pipeline
20:48
-
Togo, Kyrgyzstan sign strategic cooperation agreements in Bishkek
20:31
-
Ghana navigates trade friction as AI reshapes customs enforcement
20:30
-
West Africa’s Rice Market Grows Fast, but Structural Gaps Hold Back Its Full Potential
20:26
-
IFC Weighs €21 Million Loan to Back Gozem Expansion in West and Central Africa
19:37
-
UEMOA Debuts First Mortgage-Backed Bonds to Support Housing Finance
19:36
-
Cameroon, Germany push private investment, aim to drive deals at ProMote 2026
19:19
-
Simangele Mphahlele Scales eJoobi to Streamline South African Hiring
14:52
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Project targets up to 1 million tons of output using solar and wind Initial investment estimated at $5 billion, with expansion potential Plan...
Ghana rolls out Publican AI at Tema Port, with early revenue rising from GH₵2.4bn to GH₵3.6bn after deployment System flags undervaluation and fraud...
Rice is deeply rooted in diets but demand now far outpaces local supply Production has increased across the region, yet value chains remain...
Government launches plans to improve data use and public services Strategy aims to support responsible use of artificial intelligence Move...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....