| Thu 9 Oct 2008, 9:40 | | APN - Aspen Pharmacare Holdings Limited - Voluntary Transaction Announcement |
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APN
APN
APN - Aspen Pharmacare Holdings Limited - Voluntary Transaction Announcement
ASPEN PHARMACARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1985/0002935/06
Share code: APN
ISIN: ZAE000066692
Voluntary Transaction Announcement
Aspen Pharmacare Holdings Limited ("Aspen") and Matrix Laboratories Limited
("Matrix") of the Republic of India, would like to announce the divestment of
the existing joint ventures relating to the two chemical-manufacturing entities,
Fine Chemicals Corporation (Proprietary) Limited ("FCC") in Cape Town, South
Africa and Astrix Laboratories ("Astrix") Limited in Hyderabad, India. Aspen
will acquire 50% of FCC from Matrix and, in turn, dispose of its 50% share in
Astrix to Matrix. Aspen will retain a shareholding in Astrix through a B-share.
Aspen and Matrix have secured a long-term supply agreement for the continued
supply of anti-retroviral ("ARV") active pharmaceutical ingredients.
Furthermore, Aspen has acquired the rights to distribute a number of new
generation ARV combination products into the South African and African markets.
Stephen Saad, Group Chief Executive of Aspen said, "Aspen has retained all of
the commercial rights and strategic advantage it previously enjoyed through
Astrix, including priority of supply and maintenance of existing transfer
pricing philosophies for ARVs, in both the revised shareholders agreement and
various long term supply agreements. In addition Aspen has secured exclusive
rights to a number of novel ARV combinations for South Africa. The arrangements
will ensure the sustainable continuation of a successful long-term partnership
in the fight against HIV AIDS. Matrix has secured and retained Aspen as a key
customer and business partner. With outright ownership of FCC we will be
seeking to achieve a more effective vertical integration of this business into
the Aspen Group."
The agreement is subject to precedent conditions, including regulatory approval
of the transactions.
About Aspen:
Aspen is the largest generics manufacturer in the southern hemisphere and it is
also the leading supplier of generic medicines to both the private and the
public sectors in South Africa. Aspen is the leading provider of ARVs to the
private and public sectors in South Africa.
Aspen produces more than seven billion tablets and capsules per annum and has
the manufacturing capability to produce a diverse range of generic and
specialized products. Aspen`s extensive basket of branded, generic, over-the-
counter, FMCG, personal care and nutritional products is renowned for its
quality, efficacy and affordability. Aspen has international operations in
Australia, Latin America, East Africa, India and Mauritius. Aspen`s products are
distributed in more than 100 countries around the world.
Issued By:
Roshni Gajjar, Aspen Investor Relations
Tel: +27 (031) 580-8649 : Cell: +27 82 789 1826
On Behalf of:
Stephen Saad, Aspen Group Chief Executive
Gus Attridge, Aspen Deputy Group Chief Executive
Investment bank and Sponsor
Investec Bank Limited
Date: 09/10/2008 09:40:01 Produced by the JSE SENS Department.
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