Aspen Pharmacare is exiting most of its Asia-Pacific operations after agreeing to sell major assets in the region, excluding China, to Australian private equity group BGH Capital for about A$2.37 billion (approximately $1.6 billion). The South African pharmaceutical giant said the transaction is aimed at strengthening its balance sheet, cutting debt and supporting future investment plans.
The APAC portfolio being divested includes Aspen’s long-established businesses in Australia and New Zealand — the company’s first ventures outside South Africa — as well as operations in Hong Kong, Taiwan, Malaysia and the Philippines. These businesses accounted for around 18% of Aspen’s overall revenue and more than a quarter of its core earnings for the financial year ending June 2025.
Chief Executive Stephen Saad said the decision followed a strategic review triggered by an unsolicited proposal from BGH Capital.
“This transaction supports our long-term objectives and delivers value to the Group and shareholders,” Saad said, adding that employee terms and ongoing operations are expected to continue without disruption.
The company plans to intensify focus on growth areas, including production linked to GLP-1 therapies used in diabetes and weight management — a sector witnessing surging global demand. Aspen also intends to push forward with restructuring at its manufacturing sites in South Africa and France to improve efficiency in sterile medicines production.
Earlier this year, Aspen posted an annual loss of 1.1 billion rand, citing asset impairments and disputes linked to mRNA-related contracts. The latest divestment is seen as part of broader efforts to stabilize performance and reposition the company in fast-growing pharmaceutical segments.