A deal that is expected to close in the first quarter of next year will see Aspen Pharmacare partnering with a subsidiary of US company Eli Lilly – one of the biggest drug companies in the world – to enable the latter to reach more patients in SA and Sub-Saharan Africa.
Aspen will hold the rights to sell, promote and distribute Lilly’s pharmaceutical portfolio, subject to approval from the competition authorities, in SA and certain other Sub-Saharan African countries for 10 years initially, after which it will automatically be renewable for two further periods of five years.
It will also pay $41.5m for distribution rights while Lilly will continue to manufacture and supply its products to Aspen for the duration of the deal.
SA generated sales revenue of about R440m in 2022, accounting for nearly 90% of the total sales revenue of the portfolio in SSA, reports Business Day.
Aspen said this was expected to be materially increased by the launch of key pipeline products in the short to medium term, pending their successful registration.
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