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With the global generic pharmaceuticals market projected to grow at a yearly rate of 11%, reaching $283-billion by 2018, Ascendis Health has expanded its offering, acquiring 85 products from Sandoz South Africa that were currently not marketed with existing South African marketing authorisations.
The acquisition of these products would allow Ascendis future access to registered products in the new and rapidly emerging therapeutic areas, including oncology, women’s health and urology, while strengthening its current position within the anti-infectives and neuroscience areas.
It estimated that, with governments already implementing measures to significantly reduce healthcare costs and encouraging healthcare providers to substitute generic alternatives for patented drugs, products worth more than $98-billion would also lose exclusivity over the next three years.
“This acquisition offers us direct and immediate access to market-leading generic technology while broadening our reach and making affordable medicines available to patients, physicians and healthcare providers worldwide,” Ascendis CEO Dr Karsten Wellner said.
He added that the procurement of these dossiers and successful development of the products would offer sustained organic and new market growth opportunities for its Pharma-Med division, while also unlocking operational efficiencies and new markets.
”This is an exciting and extremely positive development which will create a strong pipeline of new products, which the Ascendis Pharma division will bring to market soon, and [which] will positively contribute towards overall shareholder value,” Wellner noted.