Aspen Pharmacare plans R3.4bn ‘single-biggest investment’ in booming high-tech niche
The funds will go towards the production of sterile anaesthetics
Aspen Pharmacare says it will make SA’s “single-biggest pharmaceutical investment” when it pours another R3.4bn into its manufacturing facility in Port Elizabeth. The funds would go towards the production of sterile anaesthetics — “a niche, high-tech manufacturing capability that presents both domestic and export opportunities”, Aspen senior executive Stavros Nicolaou said. Nicolaou was speaking at SA’s inaugural investment conference, where President Cyril Ramaphosa aimed to raise funds as part of his plan to get $100bn in new investments into SA. Nicolaou said Ramaphosa’s drive to create “a more predictable, stable investment environment and reducing regulatory burden in key economic sectors, such as the pharmaceutical sector, is very encouraging”. “While Aspen operates manufacturing plants in many geographies, it has chosen SA as the location for its largest and most critical manufacturing facilities.” While Aspen was encouraged by the government’s “investment direction”, a numbe...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.