The Hindu Business Line : Strides in pact with S. African pharma major

The co-development and supply agreement covers sharing of product development expertise and quality systems. The two companies' teams have initially started exchanging technology, business strategies, research and supplies, they said in a release here on Friday.

The tie-up also extends to ARVs (anti-retrovirals) not already manufactured by Aspen. The SA major recently launched Aspen Stavudine, the first African generic ARV drug. It is also awaiting the South African Medical Control Council's registration of an additional six generic ARVs.

Strides and Aspen are currently investing in construction of additional manufacturing facilities to meet the increasing demand for pharma products, the release said.

Strides, listed on the National Stock Exchange, is a leading domestic generic drug manufacturer and exporter. Aspen, a major supplier of branded pharma and healthcare products in South Africa and overseas, is listed on that country's bourse.

The Strides group CEO, Mr Arun Kumar, described the agreement as part of the company's plans to increase its global presence. It would enable the two companies to exchange technical and product expertise. "This landmark co-operation with Aspen consolidates our strategic positioning to emerge as a significant player in the regulated markets."

According to Mr Stephen Saad, Group Chief Executive of Aspen Pharmacare, "The partnership with Strides ... further complements our efforts of forging good global relations and expanding Aspen's international interests."

Strides said it has a presence in over 50 countries, and factories in Brazil, Mexico and the US. Its products are supplied in Latin American markets, South-East Asia, Africa, Australia and Russia. Its national manufacturing facilities catering to regulated markets are approved by all major regulatory bodies including EU, MCC, TGA and MHRA.

Aspen also has wholly-owned subsidiaries in the UK and Australia, with manufacturing facilities in Port Elizabeth and East London.

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