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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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.
After the European Commission adopted a preliminary assessment that Aspen Pharmacare “may have abused its dominant position by imposing unfair prices” for six mature oncology brands, the South African firm has outlined multiple commitments that would bring to a close a three-year Commission investigation across the EEA if adopted.
Sandoz is to pay up to €400m for Aspen’s anesthetics and other specialty off-patent brands in Japan, strengthening the Novartis division’s local position in the hospitals market.