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Johannesburg - Drugs maker Aspen Pharmacare [JSE:APN] booked
a 22% rise in full-year profit, helped by a robust showing in its Asia-Pacific
unit.
Aspen, 19% owned by Britain GlaxoSmithKline, said in
financial results released on Wednesday its normalised diluted headline
earnings per share totalled 636.2 cents in the year to end-June compared with
523.3 cents a year earlier.
The biggest generic drugs maker in the southern hemisphere,
Aspen is one of the companies most likely to benefit as some of best-selling
name-brand drugs worth more than $100bn lose patent protection over the next
three years.
Sales increased 23% to R15.3bn with its Asia-Pacific unit
doubling its revenue to R6bn thanks to an acquisition.
Durban-based Aspen completed the acquisition of the generic
business of Australia's Sigma Pharmaceuticals last year, boosting its presence
in the region.
The company said it is looking to expand further in
fast-growing Latin America, where it has small operations in Brazil, Venezuela
and Mexico.
Shares in Aspen, which are up about 44% so far this year, were down 1.16% at R139.36, in line with its closest domestic rival Adcock Ingram Holdings [JSE:AIP], which was down 1.35% at R59.
