Aspen strikes deal with Indian company to cut cost of HIV medicine | Fin24
 
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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. 

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