Aspen bulks up footprint in China with nearly R2bn acquisition of drug portfolio

SA's biggest pharmaceutical group, Aspen Pharmacare, has agreed to buy the Chinese subsidiary of Swiss drugmaker Sandoz for €92.6 million (R1.88 billion).

The acquisition 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.

The acquisition also includes a pipeline of new products for the short-to-medium term, with €18.5 million of the acquisition price dependent on the performance of these drugs. The transaction still needs approval from competition authorities in China and is expected to conclude in the second quarter of 2024.