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Africa: Leading drugmaker Aspen buys $1B unit from US competitor

By  |  June 27, 2013
Africa: Leading drugmaker Aspen buys $1B unit from US competitor

Africa’s leading drug manufacturer Aspen Pharmacare Holdings has reportedly agreed to acquire a unit of competitor Mereck & Co in a deal worth about $1 billion. In a statement, Aspen CEO Stephen Saad said the acquisition will aid his company’s output in Latin America and Asia, where the firm looks to strength its roots. According to reports, the agreement involves the buyout of a products unit, which uses molecules for therapeutic treatment including hormone replacement therapy and oral contraceptives. Aspen’s drugs unit is based in the Netherlands. The deal is the largest divestment made by Mereck since 2009.

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