Aspen Pharmacare will review its infant milk formula business with options including a sale to a strategic partner, Africa's biggest generic drugmaker said on Monday.
The unit, which has factories in New Zealand, South Africa and Mexico, follows the approval by the China Food and Drug Administration's registration of the company's baby milk formula brand, Alula.
"A range of options will be considered including, inter alia, the introduction of a strategic partner that could unlock appropriate value," Aspen said.
The business sells infant milk formula in the Asia-Pacific, Sub-Saharan Africa and Latin America, and has a growing presence in the Middle East and China.
Aspen has appointed Centerview Partners UK as financial adviser to assist in the strategic review process.