Aspen CEO Says Dealmaking to Resume as Spending Eases Off - (Bloomberg via NewsPoints Desk)

  • Aspen Pharmacare CEO Stephen Saad said the company anticipates further acquisitions in the next 12 months, likely in its existing pharmaceutical markets, with womens' health a possible area of expansion, reported Bloomberg.

  • The 2016 purchases of anesthetics portfolios from GlaxoSmithKline and AstraZeneca for at least $885 million tripled the group's borrowings to 35.7 billion rand as of the end of December, according to Aspen's most recent financial results.

  • "We're in a great space to make further acquisitions because we have our teams in the right place and we're generating cash," Saad said.

  • "The more we can build on emerging market platforms, the more excited we are," he remarked, adding "to perform in Asia Pacific is going to be important for Aspen. Latin America and Africa are important for Aspen."

  • Saad suggested that purchases in categories such as anticoagulants would help Aspen increase its ability to offer different types of existing medicines without incurring the cost of R&D for new drugs in areas such as cancer.

  • Meanwhile, the CEO was defiant when addressing a 5.2-million-euro fine imposed on Aspen by Italian regulators for raising the price of cancer drugs by as much as 1500 percent, arguing that the extent of the increase overshadowed the low price of the treatment in question.

  • FirstWord Reports: Providing insight, analysis and expert opinion on important Pharma trends and challenging issues <Click here>

To read more NewsPoints articles, click here.