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Aspen Pharmacare Ltd. is Prepared to Spend About $800 Million on M&A



9/15/2011 8:07:56 AM

South Africa's Aspen Pharmacare could spend some $800 million on acquisitions, its deputy CEO said, as Africa's biggest generic drugs maker looks for further targets, particularly in Latin America. Aspen, which paid about 6.5 billion rand ($879 million) for the generics business of Australia's Sigma Pharmaceuticals this year, would be willing to do a similar deal to broaden its presence, Gus Attridge told Reuters. "We spent about 6 billion rand on the Sigma deal and that increased our debt, but we have already brought that down quite significantly," he said.

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