Aspen is pleased to announce that certain of its wholly owned Australian subsidiaries (collectively “Aspen Australia”), have entered into an agreement with Strides (Australia) Pharma Pty Ltd (“Strides Australia”), a company incorporated in Australia, in terms whereof Aspen Australia will divest to Strides Australia, a portfolio of approximately 130 products for a consideration of approximately A$265 million (“the Australian Transaction”).

The portfolio of products in the Australian Transaction comprises a generic pharmaceutical business together with certain branded pharmaceutical assets. This portfolio recorded revenue of A$106 million and a direct contribution to profit before tax of A$26 million for the year ended 30 June 2014.

In a separate transaction, Aspen Global Incorporated (“AGI”), a company incorporated in Mauritius, has entered into an agreement with Strides Pharma Global Pte Limited (“Strides Singapore”), a company incorporated in Singapore, in terms whereof AGI will divest to Strides Singapore, a portfolio of six branded prescription products, for a consideration of approximately US$92 million. This portfolio recorded revenue of US$12 million and a direct contribution to profit before tax of US$10 million for the year ended 30 June 2014.

For more details, go to: http://www.aspenpharma.com/2015/05/divestment-of-portfolio-of-branded-and-generic-products-to-strides-entities/