To view the PDF file, sign up for a MySharenet subscription.

ASPEN PHARMACARE HOLDINGS LIMITED - Aspens Divestment of a Portfolio of prescription and OTC products in Australia to Mylan

Release Date: 20/05/2019 09:30
Code(s): APN     PDF:  
 
Wrap Text
Aspen’s Divestment of a Portfolio of prescription and OTC products in Australia to Mylan

ASPEN PHARMACARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa) (“Aspen Holdings”)
Registration number: 1985/0002935/06
Share code: APN
ISIN: ZAE000066692
and its subsidiaries (collectively “Aspen” or “the Group”)



ASPEN’S DIVESTMENT OF A PORTFOLIO OF PRESCRIPTION AND OTC PRODUCTS IN AUSTRALIA TO MYLAN

Shareholders are referred to Aspen’s announcement of 13 December 2018 wherein it was confirmed that
its wholly owned subsidiary incorporated in Mauritius, Aspen Global Incorporated (“AGI”), and its
Australian subsidiaries (“Aspen Australia”), had entered into a distribution arrangement with Alphapharm,
a subsidiary of Mylan N.V. (collectively “Mylan”), in respect of a portfolio of prescription and over-the-
counter (“OTC”) products commercialised by Aspen in, primarily, Australia and New Zealand, with effect
from 1 December 2018. It was also announced that this distribution arrangement included an option for
Mylan to acquire this portfolio from AGI and Aspen Australia.

Aspen is pleased to confirm that Mylan has exercised this option and will acquire this portfolio of products
from AGI and Aspen Australia for a maximum consideration of AUD 188 million, of which AUD 93 million is
payable by 29 May 2019, AUD 30 million is payable in January 2020 and up to AUD 65 million is payable in
September 2020. The value of the final payment is partially contingent on Aspen satisfying certain
conditions.

This divestment is in line with the Group’s ongoing portfolio management approach and its stated intention
to not only acquire value enhancing products, but to also divest of non-core assets, thereby ensuring
enhanced operational focus. The proceeds will be used to reduce Aspen’s gearing.


Durban

20 May 2019



Sponsor:

Investec Bank Limited



About Aspen

Aspen is a global specialty, branded and generic pharmaceuticals company with an extensive basket of
products that provide treatment for a broad spectrum of acute and chronic conditions experienced through
all stages of life.

Aspen has a strong presence in both emerging and developed countries. Its emerging market footprint
includes Sub-Saharan Africa, Latin America, South East Asia, China, Eastern Europe and the Commonwealth
of Independent States, comprising Russia and the former Soviet Republics. From a developed world
perspective Aspen is one of the leading pharmaceutical companies in Australia and has a growing presence
in other developed countries, most notably in Western Europe.

Aspen operates with an established business presence in approximately 50 countries spanning 6 continents
and employs more than 10,000 people. The Group operates 25 manufacturing facilities across 18 sites.
Aspen holds international manufacturing approvals from some of the most stringent global regulatory
agencies including the FDA, TGA and EMA. Aspen’s manufacturing capabilities are scalable to demand and
cover a wide variety of product-types including oral solid dose, liquids, semi-solids, steriles, biologicals, APIs
and infant nutritionals.

Aspen is the largest pharmaceutical company listed on the JSE Limited (share code: APN) and ranks
amongst the top 40 listed companies on this exchange. For more information visit:
http://www.aspenpharma.com/

Date: 20/05/2019 09:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story