Aspen: Deal with McGuff extends footprint

An Aspen warehouse. File picture: Supplied

An Aspen warehouse. File picture: Supplied

Published Dec 2, 2015

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Johannesburg - Leading pharmaceutical firm Aspen is extending its reach into the US.

It announced yesterday that it had entered into an agreement with US-based McGuff Pharmaceuticals to acquire the intellectual property and recently approved Abbreviated New Drug Application in the US in respect of the finished dose form of Hydroxyprogesterone Caproate (HPC), which treats certain female cancers and hormonal imbalances.

McGuff is also going to manufacture and supply the HPC injection product to Aspen and the product is likely to be launched in the US next year.

“The transaction will provide a unique vertical integration opportunity as Aspen currently manufactures the active pharmaceutical ingredient for HPC. The acquisition is in line with Aspen’s stated intent to develop commercial opportunities in the US,” the company said.

Aspen shares on the JSE rose 0.12 percent to close at R313, which valued the company at R143 billion.

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