In line with President Cyril Ramaphosa’s commitment to mobilise R1.2 trillion in investments over the next five years, Aspen Pharmacare has pledged R3.4 billion to a new global steriles platform in Port Elizabeth.
Aspen senior executive of strategic trade, Stavros Nicolaou, said the platform would help establish Aspen as a global anaesthetic manufacturing hub.
“Not only is it a vote of confidence in our economy, being the largest ever pharmaceutical investment in our country, but it establishes a national manufacturing asset for SA.”
The facility will prioritise the production of general and local anaesthetics for the export market.
According to Nicolaou, the exportation of goods will assist in narrowing the significant and deteriorating trade deficit that characterises the South African pharmaceutical market.
Commercial production at the facility is set to commence in early 2020, with 95% of the products destined for export. – Bjorn Vorster
