. Successful acquisition of Aspen’s Japanese operations and assets reinforces strategic focus on Japan, world’s third largest market for generics and off-patent medicines
. Acquired portfolio complements existing Sandoz portfolio and consists primarily of off-patent branded medicines with focus on anaesthetics and specialty brands
. Transaction enables Sandoz to increase portfolio and pipeline offerings in hospital setting, expanding number of patients who can gain access to these important medicines
Holzkirchen, Germany, January 31, 2020 – Sandoz today announced that it has successfully completed the acquisition of the Japanese business of Aspen Global Incorporated (AGI), a wholly owned subsidiary of Aspen Pharmacare Holdings Limited. Sandoz has acquired all of the shares in Aspen Japan K.K. and associated assets held by AGI.
“The successful completion of the acquisition of Aspen’s Japanese operations promises to significantly strengthen our position in Japan, a stable and growing market.” said Sandoz CEO Richard Saynor. “We are making bold moves in the marketplace to deliver on our purpose to pioneer access for patients by helping to address Japan’s patient and customer needs."
The acquisition enables Sandoz to expand its presence in Japan’s marketplace, the third largest for generics and off-patent medicines worldwide. It also strengthens Sandoz’s presence in the hospital channel by complementing the broad Sandoz portfolio and pipeline of hospital generic and biosimilar products in Japan with a dedicated sales, marketing and medical organization.
Aspen’s portfolio in Japan consists of approximately 20 products of off-patent medicines with a focus on anesthetics (including Xylocaine®) and specialty brands (including Imuran®) and local brands. Additionally, Sandoz has entered into a five year manufacturing and supply agreement (with an additional two year extension option) with AGI for the supply, by AGI, of active pharmaceutical ingredients, semi-finished and finished goods related to the portfolio of products acquired by Sandoz through the transaction.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as “strategic,” etc. etc.
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