Aspen Pharmacare Holdings (JSE: APN), a South Africa-based pharmaceutical company, is poised to enhance its footprint in the Chinese market with the full acquisition of Sandoz’s (SWX: SDZ) China subsidiary, Sandoz (China) Pharmaceutical Co., Ltd. This acquisition will grant Aspen all commercial and intellectual property rights to the subsidiary’s existing portfolio, including key brands such as Sandostatin (somatostatin), Aclasta (zoledronic acid), and voriconazole, along with all pipeline products under development for short to medium-term launch.
Aspen is investing up to EUR 92.6 million (USD 100.5 million) for these rights, with EUR 18.5 million (USD 20 million) of that amount contingent upon future sales performance.
In a two-part deal, Aspen will transfer commercialization rights and related IP for four of its anesthetic products marketed in the European Economic Area to Sandoz. These products are Nimbex (cisatracurium besylate), Tracrium (atracurium besilate), Carbocaine (mepivacaine), and Naropin (ropivacaine hcl). In return, Sandoz is set to pay EUR 55.5 million (USD 60.2 million), with EUR 9.3 million (USD 10 million) contingent upon future sales performance.
Aspen, with a business presence in 15 countries and 23 factories, specializes in commercializing branded generics, including anesthesia and antithrombotic products. The company currently holds 12 valid market approvals in China. Aspen estimates Sandoz’s existing China portfolio to be worth ZAR 1.8 billion (USD 96 million) in annual sales, while Aspen’s European anesthetic products generated ZAR 280 million (USD 15 million) in the previous year.- Flcube.com
