Aspen could sell portfolio for R1.9bn
US-headquartered pharmaceutical group Mylan will have option to buy portfolio
SA’s biggest listed drugmaker Aspen Pharmacare said on Thursday it might sell a portfolio of products mainly sold in Australia and New Zealand for R1.9bn. In line with a plan to divest noncore assets, Aspen had entered into a distribution arrangement with US-headquartered pharmaceutical group Mylan for the portfolio of prescription and over-the-counter products. Mylan would have the option to buy the portfolio from March 2019 for about A$188m. The portfolio generated sales of A$55m in the year to end-June, or about 1.3% of Aspen’s total revenues of R42.6bn. Aspen had also “discontinued or terminated” several third-party licences in Australia, the group said.
The company “remains on track” to meet its full-year guidance of commercial pharmaceuticals organic revenue growth — using constant exchange rates — of between 1% and 4%. This was based on its performance for the five months to end-November. “Positive performance from commercial pharma in most emerging markets and in Japan...
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