Aspen Expands in China as African Drugmaker Targets Growth
Thursday, July 21, 2016
Aspen Pharmacare Holdings Ltd. plans to increase its Chinese presence as Africa’s biggest maker of generic drugs ramps up distribution of its low-cost pharmaceuticals in the world’s most-populous country.
The South African company will add 350 sales representatives in China “in the next few months” and plans to later increase that to 500, Chief Executive Officer Stephen Saad said in an interview at the drugmaker’s headquarters in Durban on Tuesday. Aspen wants to tap demand in the country for high-quality drugs at low prices, he said.
“Aspen believes absolutely that it can expand quickly into a market such as China, because the critical thing when it comes to medicine besides the price point is quality of the product,” Saad said. “That is why we put so much effort into our manufacturing capabilities and manufacturing quality. We have the quality of drug that you can get in any multinational and it’s affordable.”
- Health Care