Swiss pharmaceutical company Acino and multinational pharmaceutical company Aspen Pharmacare and its subsidiaries have signed an agreement for Acino to acquire six South African medicines for more than R1.8-billion.
The acquired medicines are used for the treatment of gastroenterology, erectile dysfunction and cardiovascular diseases.
The acquisition will further strengthen Acino’s footprint in South Africa by expanding its offering in these important therapeutic segments.
The transaction includes the Trustan, Altosec, Zuvamor, Ciavor, Grantryl and Aspen Granisetron brands.
To secure uninterrupted patient access to these medicines, the parties have also signed a manufacturing and supply agreement in terms of which Aspen will supply the Aspen manufactured products to Acino for seven years.
In a statement on October 22, this partnership was said to be “a compelling affirmation” of Acino’s long-term strategy and purpose to increase people’s access to affordable healthcare in the areas where they need them most.
This acquisition by Acino comes on the heels of a series of other strategic investments, including its acquisition of a women’s health portfolio in Russia earlier this year and Takeda’s primary care portfolio in 2020.
“This agreement will fortify Acino’s presence in South Africa and enable us to expand our diverse portfolio of high-quality, innovative treatments that help improve people’s lives,” said Acino CEO Steffen Saltofte.
He added that Acino was committed to growing its footprint across its core emerging markets to deliver the best value to patients, customers, suppliers and shareholders.
Aspen group CE Stephen Saad, meanwhile, explained that the transaction formed part of Aspen’s communicated strategy to refine its product portfolio in South Africa.
“The acquisition of these trusted brands in South Africa represents excellent scaling and commercial opportunities for Acino as it expands its footprint in South Africa by adding these products to its existing product portfolio.”
The transaction is subject to customary closing conditions, including regulatory approvals. It is anticipated that the transaction will complete by December 31.