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
-
Italian Tractor Maker McCormick Enters Ethiopian Agricultural Machinery Market
10:13
-
Mauritius Creates National Unit to Oversee AI Development
10:08
-
Zambia and Yango Held Talks on Digital Transformation
10:06
-
South Africa Accelerates Broadband Future with Huawei-Backed National Fibre Backbone
10:03
-
Togo Pitches Reforms at Ongoing Diaspora Investment Forum
17:03
-
Nigeria: Bottomline Assist Helps Companies Access Tech Talent
15:47
-
Black Swan’s Derick Kazimoto Pushes Data-Driven Credit Models in Africa
15:06
-
Djibouti Moves Toward Launch of National Cybersecurity Authority
14:52
-
Mali Adopts 2026-2030 Cybersecurity Strategy to Counter Rising Attacks
14:48
-
Local Initiatives Organise Fish-Farming Bootcamp in Move to Slash Cameroon’s Fish Import Bill
13:37
Camtel to launch Blue Money in 2026, entering Cameroon’s crowded mobile money market led by MTN Mo...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
McCormick Tractors enters Ethiopia through an exclusive distribution partnership with Kerchanshe Group. Ethiopia plans to increase its tractor fleet...
Mauritius creates an Artificial Intelligence Unit under the Ministry of ICT and Innovation to coordinate national AI initiatives. The country ranks...
The Ministry of Technology and Science and Yango hosted a dialogue to explore public-private strategies for accelerating Zambia’s shift to a...
South Africa’s BBI and Huawei are building a national optical backbone to meet SA Connect goals by 2030. Huawei’s 800G tech enables real-time data...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...