Zurich, Oct. 22, 2021 (GLOBE NEWSWIRE) -- ZURICH, Switzerland, 22 October 2021 - 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 EUR105 million (R1.8 billion).
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.
The transaction includes the Trustan(R) , Altosec(R) , Zuvamor(R) , Ciavor(R) , Grantryl(R) and Aspen Granisetron(R) 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.
"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 Steffen Saltofte, CEO of Acino. "Acino is committed to growing its footprint across our core emerging markets to deliver the best value to our patients, customers, suppliers and shareholders."
John Norman, Regional Director English-Speaking Africa at Acino said, "I am very pleased to sign this agreement with Aspen. We work hard to make a meaningful contribution to the South African economy by providing best-in-class products and service to our patients and healthcare practitioners, as well as creating employment opportunities. This further aligns with our commitment to transformation and retaining our BBBEE Level 1 certification. With this acquisition, Acino will enhance the value of these brands through our in-depth expertise and experience in the market."
Aspen's Group Chief Executive, Stephen Saad, said, "This transaction forms part of Aspen's communicated strategy to refine its product portfolio in South Africa. 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 transaction is subject to customary closing conditions, including regulatory approvals. It is anticipated that the transaction will complete by 31 December 2021.
Acino is a Swiss pharmaceutical company headquartered in Zurich with a clear focus on selected markets in the Middle East, Africa, Russia, the CIS Region, and Latin America. The company is backed by Nordic Capital and Avista Capital Partners. We deliver quality pharmaceuticals to promote affordable healthcare in these emerging markets, and leverage our high-quality pharmaceutical manufacturing capabilities and network to supply leading companies through contract manufacturing and out-licensing. For more information, visit www.acino.swiss. Acino has attained Level 1 BBBEE status in South Africa in 2020 and 2021. For more information: www.acino.swiss
Headquartered in Durban, South Africa, Aspen is a leading global specialty and branded multinational pharmaceutical company in both emerging and developed markets.
Aspen improves the health of patients in more than 150 countries through its high quality, affordable and effective healthcare solutions. The Group's key business segments are manufacturing and commercial pharmaceuticals comprising regional brands and sterile focus brands that include anaesthetics and thrombosis products.
Aspen employs approximately 9,100 people and has 70 established business operations in over 50 countries. The Group operates 23 manufacturing facilities across 15 sites and holds international manufacturing approvals from some of the most stringent global regulatory agencies. Its manufacturing capabilities are scalable to demand and cover a wide variety of product-types including steriles, oral solid dose, liquids, semi-solids, biologicals and active pharmaceutical ingredients. For more information visit www.aspenpharma.com
For more details, please contact:
Head of Corporate Communications
Acino International AG
Aspen Group Communications Manager
-- Acino photo
-- Acino Aspen portfolio acquisition press release
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October 22, 2021 02:17 ET (06:17 GMT)