Aspen Says Reshaping Has Been ‘Painful’ But Is Over Now
CEO Saad Talks About Key Shift To Emerging Markets
Fresh from announcing the €642m ($762m) divestment of its Thrombosis business in Europe to Mylan, Aspen Pharmacare management walked investors through its full-year earnings, explaining in detail the company’s ambitions to focus on emerging markets.
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Aspen expects to report significant growth in its continuing operations for the first half of its financial year, following deals with Sandoz and Viatris that have seen the South African firm divest major businesses in Japan and Europe.
Mergers and acquisitions have long been a tool for value creation in the generics and biosimilars space. Even with the entire life sciences sector overwhelmed by the novel coronavirus pandemic, deals big and small continued in 2020.
With Mylan continuing to count down the days until its merger with Pfizer’s Upjohn completes, the US firm has struck a deal to acquire Aspen Pharmacare’s thrombosis business in Europe, bolstering what is already a $4bn operation.