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.