Aspen takes full control of FCC, divests Astrix

South Africa's Aspen Pharmacare, the largest generic drugmaker in the southern hemisphere, has divested joint ventures relating to the two chemical manufacturing entities, Fine Chemicals Corp in Cape Town, South Africa, and Astrix Laboratories in Hyderabad, India.

Aspen will acquire 50% of FCC from Matrix Laboratories to gain full control of the firm, and will, in turn, dispose of its 50% share in Astrix to the Indian generic drugmaker, while retaining a shareholding in Astrix through a B-share.

The two firms have secured a long-term agreement for the continued supply of anti-retroviral active pharmaceutical ingredients. Aspen has also acquired the rights to distribute a number of new-generation ARV combination products into the South African and other African markets.