Facing fines in Europe, Aspen looks to resume dealmaking in emerging markets

Durban headquartered drugmaker Aspen, which is facing fines in Europe, wants to push further into emerging markets on the back of its growing revenues and lower capex.

In a Bloomberg interview, Aspen CEO and billionaire, Stephen Saad, said the company, which is present in over 150 countries, will focus on emerging rather than developed markets.

Aspen faces a 5.2-million euro fine imposed on it by Italian regulators for allegedly raising the price of cancer drugs by as much as 1 500%.

Europe is fast becoming renowned for red-tape, with its recent controversial fine of search giant Google. Aspen’s push into emerging markets then may make sense if it wants keeps itself on the growth track.

Gareth van Zyl July 3, 2017 | Aspen, Colorado, Google, pm-newsletter, Stephen Saad