Aspen Pharmacare agrees to sell Japanese unit
Africa’s largest drug company has been disposing of assets to cut debt, and wants to sell its Japanese operations to Sandoz, a division of Switzerland-based Novartis
11 November 2019 - 09:51
Africa’s largest drug company, Aspen Pharmacare, has agreed to sell its Japanese business to Sandoz, a division of Novartis, for a total consideration of €400m (R6.58bn).
This is the latest disposal from the company, which is seeking to focus on its core pharmaceuticals business as it grapples with a hefty debt burden due to acquisitions. Fears it could breach debt covenants prompted its share price to halve in 2018...
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