Aspen to sell Japanese operations for R6.5bn
CAPE TOWN –
Aspen Pharmacare Holdings, the multinational pharmaceutical company, will sell its Japanese operations and related intellectual property to Sandoz, a Novartis division, for EUR 400 million (R6.5 billion).
Aspen Pharmacare Holdings, the multinational pharmaceutical company, will sell its Japanese operations and related intellectual property to Sandoz, a Novartis division, for EUR 400 million (R6.5 billion).
The disposal is anticipated to complete in the first half of calendar year 2020. Aspen Group CE Stephen Saad said the deal is part of the strategy to focus on their core pharmaceutical business in markets that offer scale and alignment to the business model.
“Our performance in Japan, a startup just a few years ago, can be attributed to the strong management team and how they have totally embraced the strong entrepreneurial culture within Aspen,” he said.
Source: iol.co.za
