South Africa's Aspen Pharmacare buys drugs business of Australia's Sigma.

By bne IntelliNews January 17, 2011
Aspen Pharmacare, South Africa's leading pharmaceutical company, said that all conditions have been met for it to acquire the pharmaceutical business of Australian-based Sigma Pharmaceuticals for ZAR 6.14bn (USD 886.5mn). The acquisition was approved following the extraordinary meeting of Sigma shareholders held on January 14, the buyer said in a statement. The effective date of change of ownership is January 31 and will position Aspen as the leading pharmaceutical company in Australia by volume of scripts generated. Sigma's pharmaceutical business consists of an extensive product portfolio of branded, generic and OTC products as well as five manufacturing facilities. Sigma will retain its wholesale business. Based upon the historic performance of Aspen and Sigma in the Australian market, the combination of Sigma's pharmaceutical business with Aspen's existing business in Australia should lead to one in every eight Australian prescriptions being written for an Aspen product and result in Aspen being ranked first by volume of scripts generated in Australia.

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