28 Jun 2013, BioSpectrum Bureau , BioSpectrum
Singapore: The Aspen Group signed an agreement with Merck (MSD) in the US and Canada for the acquisition of an active pharmaceutical ingredient (API) manufacturing business that manufactures for MSD and the market generally and which is located in the Netherlands with a satellite facility and sales office in the US.
Aspen has also reached an agreement on an option to acquire a portfolio of 11 branded finished dose form molecules from MSD, covering a diverse range of therapeutic areas and including products that use APIs manufactured by the API Business.
Mr Stephen Saad, CEO, Aspen Group, said that, "One of Aspen's primary strategic intents is to further globalise its business, increase its representation across a number of additional territories and provide support to its growing global presence with a differentiated pipeline. This transaction provides a platform to contribute to the achievement of this strategic intent by enabling Aspen to access a niche range of APIs and finished dosage products."
The transaction, which is subject to conditions precedent, is valued at approximately $1 billion. The effective date of the API business acquisition is expected to be October 01, 2013, while the expected effective date of the products acquisition through the exercise of the option is December 31, 2013.