Ascendis Health is pleased to announce the acquisition of 85 products that are currently not marketed with existing South African marketing-authorisations, from Sandoz South Africa (Pty) Ltd.
Sandoz, a division of Novartis, is a global leader in generic pharmaceuticals and supplies a broad range of affordable, primarily off-patent products to patients and customers around the world.
The acquisition of these products will allow Ascendis future access to registered products in the new and rapidly emerging therapeutic areas including oncology, women’s health and urology, while strengthening their current position within the anti-infectives and neuroscience areas.
Dr Karsten Wellner, Chief Executive of Ascendis Health said;
“This acquisition offers us direct and immediate access to market leading generic technology while broadening our reach and making affordable medicines available to patients, physicians and healthcare providers worldwide.”
The announcement follows hot on the heels of the recent acquisition by Ascendis of Spanish pharmaceutical group Famalider who specializes in the development and manufacture of generic pharmaceuticals, thereby offering Ascendis a world class offshore development and manufacturing facility.
Dr Wellner comments; “The procurement of these dossiers and successful development of the products will offer sustained organic and new market growth opportunities for our Pharma-Med division as we unlock operational efficiencies and explore new markets, while at the same time strengthening our diversification strategy and foreign earnings position.”
The global generics market is projected to grow at a CAGR of 11% to reach $283 billion by 2018, with products worth more than $98 billion expected to lose exclusivity over that time. Many governments are also implementing measures to significantly reduce healthcare costs and are encouraging healthcare providers to substitute generic alternatives for patented drugs.
Dr Wellner concludes; ”This is an exciting and extremely positive development which will create a strong pipeline of new products which the Ascendis Pharma division will bring to market soon and will positively contribute towards overall shareholder value.”