Aspen, the biggest pharmaceutical manufacturer in Africa, is setting up its first Asian subsidiary in the Philippines, which will serve as the region’s gateway for the Aspen brand of affordable and quality medicines.
In a statement, Aspen Group chief executive Stephen Saad said the business initiative formed part of the company’s global expansion strategy into emerging and established markets.
“We look forward to moving closely with the Philippine government and local regulatory bodies in providing quality products to meet the healthcare needs of the Filipino people,” Saad said.
Aspen Philippines started commercial operations in January 2012 with only four employees, headed by its president and CEO Ace Itchon. After two months, the staff complement rose to nearly 100 Filipinos.
“We are honored and grateful that Aspen chose to establish its first Asian subsidiary in the Philippines. Our partnership with a global pharmaceutical leader not only makes medicines of superior quality with prices that are within means available to Filipino patients, but it also provides employment to local talents,” Itchon said.
“As a trusted pharmaceutical company, Aspen is committed to positively impacting people’s lives by providing Filipino healthcare providers and consumers with effective and safe medicines that are within the means of the ordinary Filipino,” she added.
Zuellig Pharma Corp., the leading healthcare distribution specialist in Asia Pacific and one of Aspen Philippines’ partners, will ensure that Aspen products are always available in the local market.
The Aspen Group is currently a supplier of branded and generic pharmaceuticals in some 100 countries across the globe, and of consumer and nutritional products in selected territories. Its manufacturing capability is set to exceed 8 billion tablets.