May 20, 2018 Last Updated 7:58 AM, May 18, 2018

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Arcolab acquires Aspen Pharmacare’s Australian assets

AusBN – Strides Arcolab has announced that it will acquire Aspen Pharmacare’s Australian portfolio of branded and generic products for A$380 million.

Aspen’s Australian portfolio consists of 120 products and Strides acquisition of the products will be financed by a combination of internal accruals and debt financing.

The acquisition will also include access to products that are currently under development by Aspen, which includes a number of major product launches over the next six months.

Strides Arcolab CEO Arun Kumar said: "Aspen's Australian generic pharmaceutical assets are a valuable and unique platform for Strides to rebuild its business in Australia."

The transaction is scheduled to close by the end of the second quarter of this year.

@AusBNOnline

GSK Australia receives $1m grant

AusBN – The Australian federal government has awarded GSK Australia with a A$1 million grant through its Manufacturing Transition Programme.

The funds will be used to help the company with its expansion plans at its Boronia site in Melbourne.

Once the expansion is completed, biologicals in ‘blow-fill-seal’ packaging will be produced at the facility.

Boronia Site Director Dave Morley said: “This grant will enable GSK to continue exploring the development of cost-efficient medicines which will not only benefit patients, but also help support the Australian manufacturing sector.

“GSK looks forward to working further in collaboration with government to build Australia’s pharmaceutical manufacturing capabilities, strengthen Australian manufacturing industry amidst a competitive global market and support innovative companies like GSK which strive to provide Australian patients with access to affordable, next-generation medicines.”

@AusBNOnline

RHC plans European acquisitions

AusBN – Global healthcare giant Ramsay Health Care (RHC) has announced plans for more acquisitions.

RHC CEO Chris Rex said that the Australian market currently had limited and for this reason the company is thought to be looking into France for future deals.

Rex said: “Clearly in Australia and the UK where the market is much more consolidated, acquisition opportunities are rarer.”

RHC acquired a 57% interest in France’s Generale de Sante last year for €515 million.

However, it has been reported that RHC is circling Healthe Care, which is Australia’s third largest private hospital operator.

Rex refused to comment on the rumours.

Image credit: betterbills

@AusBNOnline

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