|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.00 - 8.03|
|52 Week Range||4.14 - 11.36|
|Beta (3Y Monthly)||0.66|
|PE Ratio (TTM)||8.26|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Novartis is buying the Japanese generics unit of South Africa's Aspen Pharmacare in a deal worth up to 400 million euros ($440.80 million) to expand in the world's third-biggest drug market, the Swiss drugmaker said on Monday. Novartis's Sandoz generics business agreed to pay 300 million euros initially, plus a deferred amount not expected to exceed 100 million euros based on certain conditions being met, Novartis said.
The U.S. Food and Drug Administration (FDA) has approved Aspen Pharmacare's hydroxyprogesterone caproate (HPC), which is used to prevent preterm birth in pregnant women, the South African drugmaker's CEO said on Thursday. Aspen, which operates in about 56 countries, has said before that it views the United States as presenting targeted growth opportunities for its niche women's health products such as conjugated estrogens, which is used in menopausal hormone therapy. Aspen got the FDA abbreviated new drug application approval in early August for a preservative-free, single-dose vial, Chief Executive Stephen Saad said at the pharmaceutical's annual result presentation.
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Aspen Pharmacare said on Monday that Mylan NV had exercised an option to buy the South African drugmaker's portfolio of prescription and over-the-counter products in Australia for 188 million Australian dollars ($130 million). In December, Aspen said its wholly owned subsidiary incorporated in Mauritius, Aspen Global Incorporated, and its Australian subsidiaries had entered into a distribution arrangement with Alphapharm, a subsidiary of Mylan in respect of the portfolio commercialized in Australia and New Zealand. "The divestment is in line with the group's ongoing portfolio management approach and its stated intention to not only acquire value enhancing products, but to also divest of non-core assets, thereby ensuring enhanced operational focus," Aspen said in a statement.