Aspen Pharmacare Holdings, a prominent branded pharmaceutical company headed by billionaire Stephen Saad, is poised to play a key role in alleviating the global supply crunch of obesity medications, according to a recent Bloomberg interview with the company’s CEO.
Aspen, Africa’s largest drugmaker, is actively exploring ways to ramp up the availability of these in-demand treatments worldwide. This move follows Aspen’s 2023 deal to distribute and promote Eli Lilly’s blockbuster diabetes drug Mounjaro across Southern Africa.
Strategic partnerships propel Aspen’s impact in niche markets
Saad, the CEO of Aspen Pharmacare underscored the group’s capabilities in bolstering supplies through “fill and finish” services — a crucial step in packaging medications for distribution. This strategic move comes as major pharmaceutical companies like Eli Lilly and Novo Nordisk struggle to meet surging demand for obesity and diabetes drugs.
“We see an opportunity to manufacture glucagon-like peptide 1 (GLP-1) diabetes drugs and higher-dose obesity medications at our South African facilities,” said Saad, expressing confidence in Aspen’s ability to help address global shortages.
Beyond its focus on obesity drugs, Aspen Pharmacare leverages strategic partnerships to target niche markets in developing economies. Last year’s deal with Eli Lilly follows a $280-million acquisition in August 2023 of a product portfolio from Viatris Inc., including the erectile dysfunction drug Viagra.
Pharmaceutical giant focuses on vaccines and high-value markets
Founded in 1997 by South African business leaders Stephen Saad, Gus Attridge, and Steve Sturlese, Aspen Pharmacare has mushroomed into a global pharmaceutical force. With over 9,100 employees, the company serves patients’ healthcare needs across more than 115 countries.
Leading the group as CEO, Saad holds a significant 12.5-percent stake in Aspen, translating to 57,151,972 ordinary shares. A substantial portion of his estimated $1.2-billion net worth, as reported by Forbes, stems from his ownership in the company.
The leading South African billionaire emphasizes Aspen’s unwavering commitment to vaccine production in Africa and its established South African anesthetics line. The company has strategically shifted its focus from generic drugs to higher-value markets, particularly sterile products such as anesthetics.
Saad highlights the importance of accelerating vaccine production in Africa, aligning with the African Union’s ambitious goal of having 60 percent of vaccines used on the continent manufactured locally by 2040. He sees this as an opportunity for significant job creation in Africa’s pharmaceutical sector, attracting talent like pharmacists, biologists, and innovators.
