Aspen Pharmacare to buy Chinese business of Sandoz for USD 100.6 million
Additionally, Aspen will dispose of the commercialisation rights and related intellectual property for four anaesthetic products currently sold by Aspen in the European Economic Area to Sandoz.;
Johannesburg: Aspen Pharmacare is expanding further into China through a deal to buy the Chinese business of Swiss group Sandoz for up to 92.6 million euros ($100.6 million), the South African company said on Monday.
As part of the deal, Aspen Global Incorporated, a subsidiary of Aspen, will also buy the selling and intellectual property rights of a portfolio of established products that include Sandostatin, Aclasta and Voriconazole.
The rights will also cover a pipeline of products to be launched by Sandoz China in the short to medium term.
The deal "represents an attractive opportunity for Aspen to take a major step in its stated objective of increasing its presence in China," the company said.
Aspen said it will pay up to 92.6 million euros, with 18.5 million euros contingent upon the sales performance of the products in the pipeline. The pharma giant will fund the net upfront cash from existing debt facilities.
Read also: Sandoz opens two new European facilities
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