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In a slow day for corporate news Aspen Pharmacare announced it has approval for its new Chinese drug portfolio. In international news, Volvo's electric move has helped it book record car sales.
SA's biggest pharmaceutical group, Aspen Pharmacare, said it has received approval for the acquisition of the Chinese subsidiary of Swiss drugmaker Sandoz. The about R1.9 billion acquisition, announced late last year, brings a portfolio of products, including Sandostatin, which treats hormonal disorders; Aclasta, which is used to treat osteoporosis; and Voriconazole, used to treat fungal and yeast infections. Aspen also announced a related transaction with Sandoz in which it will sell its rights to four anaesthetic products currently sold by Aspen in the European Economic Area. The transactions are expected to become effective by the end of its 2024 year to end June. Aspen gained more than 1% on Thursday and has risen more than 18% in the past year.
Growthpoint Healthcare REIT has completed the R106.4 million acquisition of the Johannesburg Eye Hospital in Northcliff, which has transferred to become the ninth asset and the second specialist healthcare facility in its portfolio. The hospital specialises in eye surgery and laser eye procedures, and includes the Medwedge Stepdown Facility. Growthpoint Healthcare Property invests in licensed healthcare facilities which include acute, day and specialist hospitals, laboratories and biotechnology – such as pharmaceutical - manufacturing and warehousing facilities. Launched in 2018 as the first unlisted REIT focused exclusively on healthcare real estate, it has R3.8 billion of assets under management. After two-plus years of lost growth stemming from the impact that the Covid-19 pandemic had on the healthcare sector, it said in a statement it is asset-hungry with cash on hand to invest.
