LATIN AMERICAN BUSINESSES REFOCUSED ON
THE PRIVATE SECTOR
The 2009 results for the Latin American operations represent
performance over a 12-month period, whereas the comparative
results reflect revenue for the four months since the acquisition
of a 50% interest in March 2008. With effect from 1 July 2008,
Aspen acquired a further 1% of the Latin American businesses
from Strides to give Aspen full control of these operations,
including 100% of benefits from their performance.
The implementation of Aspen’s strategy in this region has been
prioritised in order to improve the Group’s positioning in a
territory which offers tremendous potential. Under Aspen
management, the Latin American businesses are being refocused
with the objective of making inroads into the lucrative branded
private sector. Considerable attention is being given to the
registration and introduction of branded pharmaceutical and
OTC products. In Brazil, Mexico and Venezuela, where the
Group has operational presence, investments have been made
to establish effective sales representation in the private
sector. The product offering in the Brazilian private sector was
increased through the acquisition of branded and OTC products.
A sales force of 160 representatives was recruited and trained
to promote these additional products. The introduction of
the global brands into the Latin American regions from early
in 2010, will provide further impetus to the branded product
strategy. A range of insulins has been launched in Brazil and is
being promoted by a dedicated team of sales representatives.
Focus on the public sector business
in Latin America will continue to be
maintained with a more targeted
product portfolio.
From a manufacturing perspective,
the new penem and penicillin
manufacturing facilities at Campos
in Brazil were completed during
the year. Commercial production
has commenced in the penem and
penicillin injectables manufacturing
areas. The penicillin solids line is
expected to be completed by the
end of 2009.
Aspen intends to exercise its call
option for the acquisition of the
remaining 49% interest in the Latin
American businesses. This will allow
the acceleration of Aspen’s strategy
to build a private market business in
the region. The Group companies
are in the process of undergoing
name changes to associate them
with the Aspen Group.
Senior Executives:
Brazil
Evandro Paiva
Chief Financial Officer
(Appointed 2009).
Germano Mackrodt
Chief Operating Officer
(Appointed 2008).
Mexico
Francisco Alonso Lopez
Country Head Mexico
(Appointed 2009).
Peter Erlbacher
Financial Controller
(Appointed 2009).
Venezuela
KL Shashidhar
Regional Manager
(Appointed 2008).
Sivakumar Chettiyar
Finance Manager
(Appointed 2006).
BUILDING THE FOUNDATIONS FOR ASPEN’S ONCOLYTICS PORTFOLIO
The oncology portfolio consists of 32 products in development, 14 of which will be submitted to the FDA for approval by December 2009.
The liquids line in the new Bangalore-based Oncology Facility has been validated and has been accredited by the TGA and is presently pending an FDA inspection. The solids manufacturing line is expected to be completed during the first half of 2010. A manufacturing contract has been signed with a leading multinational pharmaceutical company for the supply of one product which is scheduled to commence in January 2010. GSK has confirmed the selection of eight products, including five oncology products, from the joint venture under the licensing arrangement between the parties.
50% SHARE IN ASTRIX LABORATORIES LTD DIVESTED
Aspen disposed of its interest in Astrix Laboratories Ltd at the end of May 2009 for USD39 million but retained the commercial advantage of securing continued access to cost-effective supply of ARV APIs. Aspen also acquired the rights to distribute a number of new generation ARV combination products for the South African and African markets. Aspen will however, no longer share in the profits which Astrix Laboratories Ltd earns from sales to third parties.
CO-PHARMA LTD AND ASPEN USA INC. – SHIFTING FOCUS TO THE EMERGING MARKETS
Aspen continues to hold a minority interest in Co-pharma Ltd and divested of its business in the USA in 2009.
Senior Executives:
OncoTherapiesLtd
CK Sundhar
Vice President – Operations
(Appointed 1996).
Sudhir Kanchan
Vice President – Finance
(Appointed 2006). |
