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 €105 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 its offering in these important therapeutic segments.
The transaction includes the Trustan®, Altosec®, Zuvamor®, Ciavor®, Grantryl® and Aspen Granisetron® 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 services 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.
