Aspen strikes deal with Indian company to cut cost of HIV medicine | Fin24
 
  • Load Shedding Schedules

    Find information for Johannesburg, Durban, Cape Town and other cities.

  • Eskom

    Critical repairs being done during 21-day lockdown as demand plummets.

  • Mills Soko

    China's success in addressing the coronavirus crisis speaks to the importance of decisive leadership.

Loading...

Aspen strikes deal with Indian company to cut cost of HIV medicine

Sep 20 2019 10:24
Loni Prinsloo

Aspen Pharmacare [JSE:APN] agreed to a partnership with India’s Laurus Labs to boost supply of active pharmaceutical ingredients that will help reduce the cost of HIV drugs.

The Durban-based company plans to licence intellectual property rights owned by Laurus, executive Stavros Nicolaou said by phone on Friday. The Indian company will gain a trading entity in South Africa as part of the deal, he said.

The move will put Aspen in a better position to bid for government contracts as the country plans to scale up treatment to 6 million people, Nicolaou said. The deal was first reported by Business Day newspaper.

The shares rose 0.3% on Friday morning on the JSE. 

NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

Do you support a reduction in the public sector wage bill?

Previous results · Suggest a vote

Loading...