NUTRITIONALS BUSINESS
Aspen Pharmacare seeks new formula for its global nutritionals business
Aspen Pharmacare is conducting a review of its global nutritionals business, with a view to entering into a strategic partnership or possibly a sale, it announced on Monday. Aspen Nutritionals manufactures and markets infant milk and has a presence in Latin America, Africa and the Asia Pacific. It has a growing business in the Middle East and Asia. Aspen said in mid-January that its infant milk formula brand Alula had been registered by China’s Food and Drug Administration, an important development that paves the way for it to be sold in the world’s biggest infant milk market. The company received an unsolicited approach from a suitor in 2017 and was investigating a number of options, including a strategic partnership to leverage another company’s distribution platform or a sale, said Aspen’s head of investor relations, Zihle Mgcokoca. She declined to name the suitor or discuss Aspen’s valuation. "Asia is the greenfields opportunity," she said. Aspen Nutritionals has manufacturing s...
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