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News Article - Chemicals
Pharmaceutical exports to rise
Posted on: Friday, 21 February 2003. Article source: Eastern Cape Business News
EXPORTS OF pharmaceuticals from Port Elizabeth are being given a boost through a R150-million investment in an oral solid dosage facility at the Aspen Pharmacare plant in the city. Commenting in the company’s annual report, group ceo Stephen Saad said the additions to the factory would open up further markets for the company, which already exports to the UK and Australia. “The increasing influence of the international operations on the Group is reflected in the results with offshore activities contributing nine per cent toward operating profit. Prospects for increased global revenue are positive given the progress of our businesses in Australia and the UK. The construction of the R150 million oral solid dosage (OSD) facility in Port Elizabeth will provide access to highly competitive manufacturing costs for products destined for the global market.” According to the company, the new OSD facility will “eliminate volume constraints and enable Aspen to manufacture product for export markets, including its subsidiaries in the United Kingdom and Australia.” Manufacturing capacity in tablets and capsules will more than double after the completion of the facility. In a statement, the company said there were “synergistic advantages” arising from locating the new OSD facility at the Group's Port Elizabeth site. Replication of functions will be avoided by utilising existing capabilities in quality assurance, control laboratory processes, stability testing, finished goods warehousing and regulatory affairs. Commissioning of the plant is scheduled for mid-2004. Aspen, which is a major producer of generic drugs, has plants in Port Elizabeth and East London.
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