| Wed 27 Jul 2005, 16:56 | | Aspen Pharmacare Holdings Limited - Clarification |
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Aspen Pharmacare Holdings Limited - Clarification regarding licence for generic
version of anti-retroviral efavirenz by msd to aspen
Aspen Pharmacare Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1985/002935/06)
Share code APN
ISIN: ZAE000066692
(`Aspen`)
Press Release
CLARIFICATION REGARDING LICENCE FOR GENERIC VERSION OF ANTI-RETROVIRAL EFAVIRENZ
BY MSD TO ASPEN
MSD and Aspen are pleased to announce that they are engaged in ongoing
discussions relating to the formal licence agreement required by the non-binding
Letter of Intent for MSD to grant Aspen a licence for efavirenz. It is
anticipated that the formal agreement will be signed by 1 August 2005. Aspen
intends to commence the testing and development of the product as soon as
possible with a view to submitting a dossier for registration by the Medicines
Control Council (`MCC`) in South Africa during the first quarter of 2006.
Because of the nature of the product, Aspen intends to file for fast track
approval with the MCC.
Aspen has undertaken to contribute a percentage of its sales of efavirenz to the
Msizi Trust, to be administered jointly by MSD and Aspen, to provide support to
the management, treatment and care of people living with HIV/AIDS in South
Africa.
ends
26 July 2005
Sponsor: Investec Bank Limited
For more information, contact:
Mr. Chirfi Guindo, MSD SA CEO
Tel: (011) 655 3000
Cell: 082 417 9405
Ms. Seara Macheli, MSD Director, Legal and Corporate Affairs
Tell: (011) 655 3000
Cell: 082 886 6565
Stephen Saad, Aspen Pharmacare Group CEO
Tel: (031) 268 9506
Cell: 083 303 4833
Gus Attridge, Aspen Pharmacare Deputy Group CEO
Tel: (031) 268 9505
Cell: 083 628 8813
Issued by:
Lindy Goodfellow (Public Relations Manager) Shauneen Beukes
For MSD SA For Aspen Pharmacare
Tel: (011) 655 3054 Tel & Fax: (012) 661-8467
Cell: 083 442 5557 Cell: 082 389 8900
About the Aspen Group
South African based JSE Securities Exchange (JSE) listed Aspen is Africa`s
largest pharmaceutical manufacturer and a major supplier of branded
pharmaceutical and healthcare products to southern African and selected
international markets.
Aspen has an extensive basket of quality, effective and affordable products in
the branded, generic, over-the-counter (OTC), personal care, fast moving
consumer goods (FMCG), nutriceutical and infant nutritional formulations (INFs)
categories.
Aspen became the world`s first pharmaceutical manufacturer to be granted
approval by the US Food and Drug Administration (FDA) to manufacture combination
therapy generic anti-retroviral (ARVs) in a co-packed form. This was enabled
through voluntary licences from GlaxoSmithKline and Boehringer Ingleheim and
underscores Aspen`s scientific and technical capabilities, its manufacturing and
quality standards, and GMP compliances.
Aspen endorses transformation and broad based black economic empowerment (BEE)
as a vehicle to empowering historically disadvantaged South Africans and Aspen`s
two strategic BEE partners include CEPPWAWU Investments, the investment arm of
the COSATU Affiliated Union CEPPWAWU and Imithi Investments (Pty) Limited, a
broad based consortium consisting of parties operational in the Southern African
healthcare industry and a number of community advancement organizations.
Aspen`s total BEE shareholding exceeds 17%.
In 2004 Aspen acquired 100% of the shares of Cape Town based Fine Chemicals
Corporation (Pty) Ltd (FCC) which is South Africa`s leading off-patent active
pharmaceutical ingredients (API) manufacturer and a significant exporter of API
to the USA. As part of a memorandum of understanding, Aspen is currently in
negotiation with Indian based Matrix Laboratories Limited (Matrix) in which 50%
of Aspen`s current 100% shareholding in FCC will be sold to Matrix. The deal
complements Aspen`s efforts to secure a strong supply source for APIs for some
of Aspen`s key products.
Aspen`s off shore subsidiaries contribute toward the Group`s strategy of
establishing a presence in selected geographic areas. Co-Pharma operates in the
UK market, while UK based Aspen Resources is an intellectual property owning
subsidiary of Aspen Holdings. Aspen Pharmacare Australia continues to complement
the Aspen Group`s off shore strategy of increased growth in selected off-shore
territories and it is an extension of the Group`s worldwide network of strategic
alliances offering a range of products in niche market areas.
For more information about Aspen, click on www.aspenpharma.com
About Merck Sharp & Dohme
Merck Sharp & Dohme (MSD) South Africa is a subsidiary of the global, research-
based pharmaceutical company Merck & Co., Inc., Whitehouse Station, NJ USA. MSD
discovers, develops and markets a broad range of products designed to save
lives, improve human health and enhance patients` quality of life.
The company employs 300 people in South Africa, and operates a state-of-the -art
manufacturing plant in Midrand, the site of MSD South Africa`s head office.
MSD has, since March 2001, made its two HIV products, STOCRIN and CRIXIVAN,
available at not - for - profit prices in South Africa and to all sub-Saharan
countries. South Africa benefits from the lowest prices offered for these two
products, which are lower than or comparable to prices of generic versions of
the medicines (for example, the price of Efavirenz 600 mg is R 6, 37 per day (or
USD 0, 95 per day). Reference: `Untangling the Web of Price Reductions, June
2005, www.accessmed - msf.org).
MSD`s products are novel medicines that represent true advances in patient care.
MSD is recognised internationally for its research in many areas, including
hypertension, hypercholesterolemia, HIV / AIDS, osteoporosis, asthma, migraine,
opthalmics, arthritis, male pattern hair loss, anti-infectives, oncology,
diabetes and vaccines.
For more information, visit www.merck.com
Date: 27/07/2005 04:45:07 PM
Produced by the JSE SENS Department
