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					Results Highlights Per Published Accounts                               2




        Revenue                + 23%                  to R3.4 billion


        Operating Profit       + 96%                  to R968 million


        NPAT                   + 242%                 to R638 million


        HEPS                   + 235%                 to 185.5 cents



                     Not the full picture…distorted by once-offs
“Normalisation” Of Earnings                                                                                                                    3




             700                                                      21                1             (16)
                                                       14                                                              (32)
             650
R millions




             600
                      638                                                                                                             626
             550

             500
                   Published   BEE transaction   FCC write-down   PLIVA costs   Goodwill write-   Deferred tax   S12G allowance   Normalised
                                                                                    down              asset




             500                                                                         7              (7)
             450
             400
             350
R millions




                                      282
             300                                                                                                                      468
             250
             200
             150      186
             100
                   Published   BEE transaction   FCC write-down   PLIVA costs   Goodwill write-   Deferred tax   S12G allowance   Normalised
                                                                                    down              asset
Normalised Income Statement                                     4



                          Year ended     Year ended    Change
                         30 June 2006   30 June 2005
                              Rm             Rm

Revenue                     3 449          2 815       +23%
Cost of sales              (1 789)        (1 424)
Gross profit                1 660          1 391       +19%
Net operating expenses      (637)          (551)       +16%
EBITA                       1 023           840        +22%
Amortisation                 (92)           (95)
Operating profit             931            745        +25%
Net funding costs            (41)           (62)
PBT                          890            683        +30%
Tax                         (264)          (215)
Normalised earnings          626            468        +34%

Normalised EPS           182,1 cents    137,6 cents    +32%
Accounting Under IFRS : Material Adjustments                                       5




                                                      Year ended     Year ended
                                                     30 June 2006   30 June 2005
                                                          Rm             Rm




Recognition of the cost related to BEE transaction                      282



Recognition of share-based payment                       28             12
expenses for employees



Additional amortisation from                             17             21
re-instatement of intangible assets
IFRS 2: Share-Based Payments: Employees                                                                                   6



   All grants of equity settled share options and share      Number of variables:
    appreciation rights:                                        ~ Current share price (higher price; higher expense)
     ~ Awarded after 7 November 2002                            ~ Risk free rate for period (lower rate; lower expense)
     ~ Not yet vested by 1 January 2005                         ~ Expected volatility in share price based on past
                                                                   history (lower volatility; lower expense)
                                                                ~ Number of shares expected to vest (more shares;
                                                                   higher expense)
   Implementation dates tend towards lower earlier
    charges escalating as the pipeline fills:                   ~ Dividend yield prediction (lower yield; higher
                                                                   expense)
      ~ June 2005 = R12 million
                                                                ~ Expected period to vesting (affects volatility
      ~ June 2006 = R28 million
                                                                   determination and spread of expense)

                                                              Calculated by binomial model
   Expense should stabilise after FY07
                                                              Charge = Valuation of option at grant date, expensed
                                                               over vesting period

                                                              No correlation to actual settlement value of
                                                               option/appreciation rights
EBITA Margins                                                                                       7

Based On Normalised Earnings

                                                                       Year ended     Year ended
                                                                      30 June 2006   30 June 2005


Group                                                                     30%            30%

…remain intact, but there have been shifts



SA pharma                                                                 35%            37%
  ~ Price pressure in private and public sectors, lower margin ARVs



SA consumer                                                               25%            22%
  ~ Benefits of own manufacture of infant milk formulations
Normalised EPS: Growth Bridge                                                                                                                       8




             190
                                                                                                                  1%             (1%)
                                                                                   3%             1%
             180                                         3%            0%
                                           9%
             170
                            16%
             160

             150
R millions




             140                                                                                                                            182.1

             130

             120   137.6

             110

             100
                           SA Pharma   SA Consumer Australasia/Asia   UK/USA   Funding costs   Amortisation Effective tax rate New shares




                                                                                                                         Total Growth +32%
Earnings Evolution                                                                                 9

Based On Normalised Earnings


Greater earnings in second half of the year…   …but slower rate of year on year growth in second half




                48%              52%
                                                                 +28%
                                                                                   +17%
                H1               H2                               H1               H2
                       EBITA                                              EBITA




                47%              53%
                                                                 +45%
                                                                                   +25%

                H1               H2                               H1               H2
                      EARNINGS                                          EARNINGS
Abridged Balance Sheet                                             10

                                     30 June 2006   30 June 2005
                                          Rm             Rm
ASSETS
Non-current assets                      2 120          1 778
      Tangible fixed assets               613            482
      Intangible assets                 1 083            861
      Financial assets                    390            377
      Deferred tax assets                  34             58
Current assets                          1 524            940
Cash                                      625            440
                                        4 269          3 158

EQUITY & LIABILITIES
Shareholder’s equity                    1 726          1 116
Preference shares – liability             403            407
Long term interest bearing debt            49             63
Short term interest bearing debt        1 174            762
Interest bearing deferred payables         28             71
Retirement benefit obligations              7             11
Deferred tax liabilities                  104             72
Current and other liabilities             778            656
                                        4 269          3 158
Cash Flow From Operations                                            11

                                        Year ended     Year ended
                                       30 June 2006   30 June 2005
                                            Rm             Rm


Cash operating profit                     1 127           929

Working capital requirements              (487)           (53)

Cash generated from operations             640            876

Net financing costs                       (128)           (85)

Investment income                          73             38

Tax paid                                  (183)          (176)

Net inflow from operating activities       402            653
Distribution To Shareholders                       12




                                          62c



                                 48c




                          30c


                   20c

             11c

            2002   2003   2004   2005    2006

                                    Increase 29%
Geographic Distribution Of Fund Managers   13

30 June 2006


                     Other Intl
                        13%


               UK
               13%
                                   SA
                                  45%




                     USA
                     29%
World Generic Market                                                                                                   14



   Generic growth fuelled by:                                   Pricing and margin pressure:
     ~   Numerous patent expirations including blockbusters        ~   Increasing competition
                                                                   ~   Intervention by regulators




   A focus on costs:                                            Heightened M&A activity:
     ~   Ageing populations and limited healthcare budgets         ~   Indian pharma companies buying European and USA
                                                                       companies
                                                                   ~   Aggressive private equity involvement
                                                                   ~   Race to acquire companies in developing countries
                                                                       to access improved cost of goods
   Volume growths:                                                ~   Pliva subject to hostile takeover
     ~   Patent expirations
     ~   Generic shift
SA Pharma Market                                                                                                           15



   Legislative shadow continues to hang over the                  8% Growth in SA market due to:
    industry:                                                        ~   Generic shift
     ~   Market fluid                                                ~   Volume increases
     ~   Difficult to make strategic plans


   Healthcare Charter being finalised                             Settlement of legislative dispute at an agreed
                                                                    fixed fee should accelerate generic shift
   Attempts to broaden access to the private
    sector less dependence on public sector
    infrastructure:                                                Increased usage of ARVs:
     ~   Inequitable distribution of resources between public        ~   Private market growing as ARVs are now included as
         and private sector                                              a prescribed minimum benefit
     ~   Private scheme membership static, population                ~   Public sector volumes up from initial ±20k lives to
         growth                                                          over 100k lives


   No price increases since 2003                                  Intense generic competition from importers
Aspen In The Market                                                                                                                  16



   Aspen is the largest generic manufacturer in the                        Generic manufacturers have lobbied
    Southern Hemisphere                                                      government for a price increase:
                                                                              ~   Resolution expected shortly
   Aspen has significant BEE ownership (over                                 ~   Some manufacturers have already increased price
    R2bn)
                                                                            Aspen maintains leading position in the generic
   SA Private Sector:                                                       sector:
     ~   Volume growth                                                        ~   Lead position sustainable - SA’s most successful
     ~   Generic growth at 20%                                                    company at launching new products over the last
     ~   Price deflation:                                                         twelve and twenty four months by both value and
           -   Downward ratchet effect of current legislation                     number
     ~   Margin:                                                              ~   Aspen has again demonstrated that we have the
           -   Last few years strengthening rand had offset local cost            industry’s best pipeline
               increases
           -   Pressure now on SA profitability caused by weakening         Aspen poised to increase global leadership
               rand                                                          position in infectious diseases:
                                                                              ~   Aspen covers more lives in Africa with ARVs than
   Partially offset by exports and offshore                                      any other company
    operations                                                                ~   Impressive growth into Sub Saharan African
                                                                              ~   Due diligence with Lupin completed, agreements now
                                                                                  being finalised
Aspen In The Market (CONT.)                                                                                              17



   Aspen placed 1st in the nationwide Campbell                  SA Public Sector:
    Belman Confidence Standing survey:                             ~   Low production cost capability demonstrated by
     ~   Independent survey of retail pharmacies and buying            share of tender-driven public sector
         groups assessing 39 leading OTC companies in SA           ~   Volume growth
     ~   Third year in succession                                  ~   Margin pressure because of strengthened rand at
                                                                       time of tender
                                                                   ~   ARVs growing




   Australia:                                                   Aspen has an annuity base income from
     ~   Aspen now ranked 7th in Australia by number of           unrivalled range of chronic medication
         scripts generated
SA Private Market (per IMS)                                                             18



                                 There has been a shift to generics in both volume
                                  and value




                                 Aspen’s commitment to having the industry’s best
                                  pipeline is demonstrated by:
                                   ~   Relative number of new product launches
                                   ~   Relative market share these new products enjoy
  Total Private Market                            19

  June 2006 (June 2005 – TPM R11.4bn)



                   Generic
                    2.0bn




                                        Ethical
                                         6.8bn
                OTC
               3.9bn




Source IMS
Total Pharma Market                                                                                                                        20

MAT Rand Shares As At June 2006


     ADCOCK INGRAM                      ASPEN                 PFIZER                SANOFI-AVENTIS                    NOVARTIS HEXAL



14

          12.70      12.74      12.71      12.66      12.65      12.59      12.53      12.51      12.53      12.44      12.40      12.33
12
          11.14      11.18      11.18      11.22      11.19      11.17      11.21      11.18      11.15      11.20      11.16      11.16


10



8         7.67       7.76
                     7.65       7.63        7.54      7.47
          7.50                                                   7.39       7.38       7.35       7.35       7.36       7.33       7.28
                     7.48       7.46        7.42      7.40                             7.29       7.22       7.18       7.14       7.10
          6.76                  6.77        6.77      6.77       6.78       6.78       6.76       6.79       6.78       6.82       6.84
6



4
      Jul-05      Aug-05     Sep-05     Oct-05     Nov-05     Dec-05     Jan-06     Feb-06     Mar-06     Apr-06     May-06     Jun-06
SA Industry Overview                                                                             21

Generic % And OTC % Market Share



                     Generics June 2006                         OTC June 2006
      PHARMA DYNAMICS   OTHER
            2.61         6.07                    OTHER                                  ADCOCK
                                                  22.42                                  21.03
           SERVIER
             2.87
       RANBAXY
         4.17
                                      ASPEN
NOVARTIS/HEXAL
                                       33.59
     6.13


                                               J&J                                    ASPEN
ROLAB/SANDOZ                                   3.13                                    11.74
    8.66                                       RECKITT
                                                 3.47
                                                         GSK
                                                         3.55
             CIPLA
                                                      BOEHRINGER
              10.8                                                 PFIZER   NOVARTIS/HEXAL
                                                         3.57
                                  ADCOCK                            3.77         4.23
                                   20.16
          Aspen

           Merck

            Cipla

         Sandoz

           Hexal

         Adcock

          Austell

          Nativa

         Be Tabs

        Novartis

Pharma Dynamics

            Lilly

          Servier
                    In The Last 12 Months By Company




   Bristol Meyers

          Roche

           Novo

     OTC Pharm

        Ranbaxy

      Sekpharma
                                                       Products Launched Into The Market




        Biogaran

          Wyeth

            GSK

      Boehringer

    AstraZeneca

 Schering Plough

           Pfizer
                                                       22
                                                                                            %




                                                            10
                                                                   12
                                                                        14
                                                                             16
                                                                                     18
                                                                                            20




                    0
                        2
                                 4
                                             6
                                                     8
         Aspen                                                                            18.54

           Cipla                                                                  16.22

            Lilly                                           8.84

         Servier                                     6.75

        Novartis                                    6.55

           BMS                                      6.53

        Adcock                                      6.42

         Wyeth                               4.88

          Hexal                       3.60

           GSK                    3.22

Pharma Dynamics                 2.69

         Roche                  2.63

              BI               2.50
                                                                                                  MAT Market Share Per Corporation




          Merck                2.43
                                                                                                                                     New Products 0 → 12 Months




    Novonordisk          1.35

         Austell        1.07

          Nativa        0.99

    AstraZeneca         0.98

    OTC Pharma          0.98

        Be-tabs         0.98

       Schering         0.97

          Bayer         0.97

    OTC Pharma          0.97

        Astellas        0.96

           BMS          0.96

     Pharmaplan         0.96
                                                                                                                                       23
Ethical / Generic Split                                                                                                                                                                                24

MAT Rand Market Share (SCH 3-7) June 2006
90


                     78.75




                                     78.60




                                                    78.44




                                                                    78.26




                                                                                       78.11




                                                                                                       77.91




                                                                                                                       77.73




                                                                                                                                       77.52




                                                                                                                                                       77.31




                                                                                                                                                                       77.10




                                                                                                                                                                                       76.88
     78.93




80



70



60



50



40



30
                             21.25




                                                            21.56




                                                                            21.74




                                                                                               21.89




                                                                                                               22.09




                                                                                                                               22.27




                                                                                                                                                                                               23.12
             21.07




                                                                                                                                               22.48




                                                                                                                                                               22.69




                                                                                                                                                                               22.90
                                             21.4




20



10



 0
     Jul-05          Aug-05          Sep-05         Oct-05          Nov-05             Dec-05          Jan-06          Feb-06          Mar-06          Apr-06          May-06          Jun-06
                                                                                    ETHICAL                GENERIC
Ethical / Generic Split                                                                                                                                                                                25

MAT Units Market Share (SCH 3-7) June 2006

 54   53.14




                      52.62
 53




                                      52.17




                                                      51.77




                                                                      51.49
 52




                                                                                          51.26




                                                                                                          50.87




                                                                                                                                                                                               50.82
                                                                                                                          50.58
 51




                                                                                                                                                                               50.46
                                                                                                                                              50.28




                                                                                                                                                              50.10
                                                                                                                                                      49.90
                                                                                                                                          49.72




                                                                                                                                                                       49.54
 50




                                                                                                                                  49.42




                                                                                                                                                                                       49.18
                                                                                                                  49.13
                                                                                                  48.74
                                                                              48.51
 49
                                                              48.23
                                              47.83




 48
                              47.38
              46.86




 47


 46


 45


 44


 43
      Jul-05          Aug-05          Sep-05          Oct-05          Nov-05              Dec-05          Jan-06          Feb-06          Mar-06      Apr-06          May-06           Jun-06

                                                                                      ETHICAL                GENERIC
Aspen In Infectious Diseases                                                                                                      26

HIV / AIDS
   Universal access to ARVs by 2010                                    Viread and Truvada (Gilead products) now both
                                                                         first line treatments on WHO guidelines:
   Currently less than a million lives covered in                        ~   Aspen to manufacture and distribute these branded
    Africa:                                                                   products in Africa
     ~   Projected to increase to over 5 million
                                                                        Gilead to determine manufacturers of Atripla –
   Lion’s share of 3 year SA public sector tender                       the first one-a-day ARV combination
    awarded to Aspen:
     ~   ±60% of total volume
                                                                        Technology transfer agreement completed with
   Aspen currently covers more than 300 000 lives                       BMS on Atazanivir:
    in Sub Saharan Africa:                                                ~   Only Aspen and Emcure chosen worldwide
     ~   Global generic leader for ARV supply into Africa
     ~   Developed individual molecules first                           Voluntary licence with Merck on Efavirenz
           -   Preferred requirement of Southern African countries       closed
     ~   Rest of Africa volume demand is for fixed dose
         combination
     ~   Development of fixed dose combination will increase
                                                                        If universal access to ARVs attained Aspen
         volume opportunities                                            currently has capacity to meet demands for in
                                                                         excess of 1.5m lives
   Rich pipeline of ARV registrations:
     ~   Project calendar year 2008 as the growth year for the          Through our Astrix joint venture, Aspen able to
         Aspen ARV rollout                                               control the entire value chain
Aspen In Infectious Diseases (CONT.)                                                                                    27

TB
    Globally 8.6m fresh TB cases diagnosed every                   Key customers are donor and other agencies –
     year:                                                           many of whom overlap as current ARV funders
      ~   > 500 000 new TB cases in SA
      ~   66% of all TB cases in SA are also infected with HIV

                                                                    Through this global joint venture – Aspen will
                                                                     with Lupin become the world leader by volume
                                                                     in supplying finished dosage form TB products
    Market size estimated at $550m - $600m
                                                                     with backward integration of APIs



    Global joint venture with Lupin gives Aspen                    Aspen awaits registration from WHO on the
     access to Lupin’s API capabilities and costs                    MDR-TB products:
                                                                      ~   Technology transfer received from Eli-Lilly
ARV’s                                                                                            28

Products Registered At Medicines Control Council (“MCC”)
   Stavudine 15mg, 20mg, 30mg and 40mg                Nevirapine 200mg tablet and Nevirapine
    capsules                                            50mg/5ml suspension


   Didanosine buffered tablet 50mg, 100mg, 150mg
    and 200mg                                          Aspen Lamzid and Nevirapine co-pack



   Zidovudine 100mg and 200mg capsules, 300mg
    tablet and 10mg/ml syrup
                                                       Between 14 and 20 products to be
                                                        submitted over the next twelve months

   Lamivudine 150mg tablet and 10mg/ml, syrup
ARV’s                                                                                                     29

World Health Organisation (“WHO”)
   The Aspen oral solid dosage (“OSD”)                    The following product is listed on the pre-
    manufacturing site in Port Elizabeth has been           qualification list by virtue of its FDA
    approved by WHO for manufacture of the listed           tentative approval:
    products
                                                             ~ Aspen Lamzid and Nevirapine Co-Pack

   Products already prequalified:
     ~   Aspen Stavudine 20mg, 30mg and 40mg capsules
                                                           Between 14 to 20 future developments will
     ~   Aspen Lamivudine Tablets 150mg                     be submitted to WHO for pre-qualification
     ~   Aspen Nevirapine 200mg Tablets                     within a year
     ~   Aspen Zidovudine 300mg Tablets


   The following products are pending pre-
    qualification:
     ~   Aspen Lamzid Tablets (Lamivudine/Zidovudine
         combination)
ARV’S                                                                                                          30

United States Food And Drug Administration (“FDA”)
(for access to PEPFAR funding)


   Products submitted either as New Drug           Awaiting tentative approval:
    Applications (NDA) or abbreviated New Drug        ~   Aspen Lamzid
    Applications (ANDA) to the FDA



   Tentatively approved:                           To be submitted in the foreseeable future
     ~   Aspen Lamzid and Nevirapine Co-Pack         (± 12 months):
                                                      ~   At least 14 products as a combination of NDA’s and
                                                          ANDA’s
ARV’S                                                                                31

Registration With African Regulatory Authorities
   Products submitted or pending submission include the various presentations of:

      Stavudine                                             Nevirapine

      Didanosine                                            Combination pack

      Zidovudine                                            Viread ®

      Lamivudine                                            Truvada ®

      Lamivudine/Zidovudine combination
Offshore Operations                                                                                                     32

ASTRIX
   Joint venture on FCC and Astrix – completed:                   Anticipated that the joint venture at FCC and
     ~   Astrix – API facility in Hyderabad with a focus on         Astrix could supply over 65% of Aspen’s total
         ARVs                                                       API requirements
     ~   Both Astrix and FCC are FDA approved



   Currently in the process of adding Astrix as an                In an industry where cost of goods has
    alternate API manufacturer to Aspen dossiers                    increasing focus being vertically integrated is a
                                                                    key strategic advantage for Aspen


   Given Aspen’s current ARV market share and
    growth projection to 2010 this joint venture is an
    important strategic alliance:
     ~   Astrix providing certainty in high volume low margin
         ARV industry
     ~   Ability to offer fully integrated solutions e.g. BMS
         Atazanavir
     ~   Key clients Aspen, Cipla and Ranbaxy
Offshore Operations                                          33

Australia
   Strong management team

   Well positioned in the market – low exposure to
    commodity generics

   Increased presence in consumer market with
    addition of new brands

   Sales teams generating excellent script support:
     ~   Aspen generated ± 3.5 million scripts
     ~   7th by volume of scripts generated
     ~   One in 25-30 scripts generated in Australia is an
         Aspen script
Manufacturing Review                                                                                               34



   Manufacture is a core competence within Aspen      Proven affordability and quality:
                                                         ~   Demonstrated by tender market shares
                                                         ~   Market shares of ARVs attained in the face of Asian
                                                             competition
   Second IGS line installed into OSD
                                                         ~   Accreditation from stringent regulatory bodies



   Focus on skills development and consolidation      Sterile manufacture:
    yielding benefits:                                   ~   Niche
     ~   Improved service delivery                       ~   High end manufacture
     ~   Decreased back orders                           ~   Already attracting offshore interest
     ~   Reached zero backorders in OSD
Prospects And Strategic Direction                                                                                                35


   Is Aspen actively seeking out another                            ~   APIs are currently being sourced from Europe. A
    acquisition target in Europe?                                        switch into Asia (Aspen knows this market and has
                                                                         achieved significant cost savings in both SA and
   NO - this is definitely not a focus area:                            Australian operations) would have resulted in
                                                                         significant savings
     ~   Our focus areas are Africa and Australia
                                                                     ~   Numerous other good commercial reasons
     ~   Expansion into Africa will receive increasing focus
                                                                     ~   So why Pliva? Because at the price tendered, had
     ~   But Aspen will consider a value enhancing
                                                                         Aspen effected the above gross profit
         transaction anywhere
                                                                         enhancements, cost saving and territorial synergies -
                                                                         the returns made sense
   Why then Pliva?
     ~   Every opportunity needs to be assessed on its merits      Aspen is always alert to strategic acquisitive
                                                                    opportunities:
   Aside from its excellent Eastern European
                                                                     ~   Aspen USA established to assess niche opportunities
    operation, key drivers were:                                         in this market
     ~   An ability to utilise SA manufacture and in so doing
         consolidate four sights of manufacture to two             Currently formulating strategies to increase
     ~   An opportunity for economies of scale in the under-        presence in Sub Saharan Africa
         utilised Eastern European and SA manufacturing
         plants                                                    Sterile facility will strategically position Aspen in
     ~   The conversion costs were less than half of the            a niche manufacturing and development arena:
         current US and German costs                                 ~   In advanced negotiations with transnational for
                                                                         significant third party sterile manufacturing
                                                                         opportunity
Prospects And Strategic Direction (CONT.)                                                                                      36

   Aspen is a key player globally in infectious                  The SA generic market is growing and Aspen is
    diseases:                                                      well positioned within the market:
     ~   HIV/AIDS - have both capacities and capabilities at        ~   Lead position in generics to be maintained through
         an API and FDF level to provide medication to                  our pipeline and success of new product launches
         increasing patient numbers
     ~   Aspen and Lupin will become the lead player in TB        Production recovering from the stress of inter
     ~   Aspen has a technology transfer from Lilly on MDR-        alia:
         TB                                                         ~   Changed product mix caused by legislative changes
                                                                        (bulk to patient ready packs)
   Positive impressions gained by multinationals                   ~   Increased organic demand
    of Aspen’s manufacturing facilities has lead to                 ~   Increased ARV demand
    third party manufacturing opportunities:                        ~   Start up of new facility
     ~   Aspen should capitalise on these opportunities             ~   Unprecedented number of new product launches
         shortly
     ~   Opportunities exist for both the API and FDF             Aspen manufacturing expertise to be the engine
                                                                   room for future growth
   Aspen has produced another set of outstanding
    financial results:                                            The SA Consumer business:
                                                                    ~   Continues to outperform
    Revenue                               =  23%
                                                                    ~   Benefits from increased retail spending in SA
    “Normalised” Operating Profit         =  25%
                                                                    ~   Over performance of the infant milk formula business
    “Normalised” HEPS                     =  32%
                                                                    ~   Product extensions and innovations expected to add
                                                                        to momentum
Prospects And Strategic Direction (CONT.)                                                                      37


   Aspen has grown at 40% per annum for the past                  Aspen has:
    7 years                                                          SA’s best pipeline
                                                                     The most comprehensive and affordable
   During 2007 we need to:                                            basket of chronic medication
     ~   Consolidate the achievements of prior years                 Fully integrated ARV business
     ~   Set up a platform for the growth opportunities
                                                                     Growing offshore presence
         identified until 2010
     ~   Focus on skills development                                 Over 300 000 African patients on Aspen
     ~   Finalise and strategise plans for growth into Sub
                                                                       ARVs
         Saharan Africa                                              Lived true to our philosophy
     ~   Grow Group development capabilities at both an
         insource and outsource level
     ~   Complete development, registration and technology
         transfers of key ARV products
     ~   Period 2008  2010 will be important for Aspen in
         determining future ARV market shares
     ~   Continue to focus on acquisitive opportunities where
         appropriate
     ~   Work responsibility with government on the Charter,
         price regulations, etc.
     ~   Retain Aspen’s position as Africa’s quality, affordable
         healthcare alternative

				
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