| |DECEMBER 20238IN FOCUSAspen Pharmacare (APNJ.J) is expanding its presence in China by acquiring the Chinese operations of Swiss company Sandoz (SDZ.S) for a sum of up to 92.6 million euros ($100.6 million), as confirmed by the South African firm. Additionally, Aspen Global Incorporated, a subsidiary of Aspen, will acquire the selling and intellectual property rights for a portfolio of established products such as Sandostatin, Aclasta, and Voriconazole. These rights will also encompass a range of upcoming products planned for release by Sandoz China in the near future.Aspen views the deal as an appealing opportunity to advance its goal of expanding its presence in China, the company stated. Aspen plans to pay a total of up to 92.6 million euros, with 18.5 million euros contingent upon the sales performance of the pipeline products. The pharmaceutical company intends to finance the net upfront cash using its existing debt facilities. Furthermore, Aspen will transfer the commercialization rights and associated intellectual property for four anesthetic products currently marketed by Aspen in the European Economic Area to Sandoz.In return for this transfer, Aspen stands to receive up to 55.5 million euros, with an additional 9.3 million euros contingent upon the sales performance of its anesthetic products specifically Nimbex, Tracrium, Carbocaine, and Naropin. Aspen expressed that this divestiture will enable its European management to focus more closely on its remaining anesthetic products in the region. Additionally, the company highlighted that the products being sold align well with Sandoz's existing pharmaceutical offerings in Europe, where Sandoz possesses substantial scale and advantageous positioning to capitalize on their potential. Aspen aims to incorporate approximately 1.8 billion rand ($96.23 million) in annual sales from the Chinese business into the group, while the sales generated from the anesthetic products during Aspen's financial year ending on June 30 amounted to approximately 280 million rand. Hewlett Packard Enterprise, a leading global edge-to-cloud company, has appointed Khai Peng Loh as the new Managing Director for Singapore, tasked with driving the country's growth and strategic initiatives. Khai Peng previously held roles, including Vice President and Managing Director for Singapore and Growth Markets at HPE in 2016. Later, he assumed the position of Vice President and Managing Director for Growth and Emerging Markets at HPE a year later. Before his latest appointment, he served as the Vice President and General Manager of Hybrid IT, Asia Pacific at Hewlett Packard Enterprise.Upon graduating from the National University of Singapore, he embarked on his professional journey at IBM in 1992 as a Presales Consultant, eventually progressing to the role of Product Manager by 1996. Following his tenure at IBM, he ventured into Sun Microsystems where he initially served as the Channel Sales Manager in Singapore, later advancing to the position of Channels Director, Channels Development Partners, South Asia.Between December 2001 and March 2003, Khai Peng worked at HP as a Sales Manager specifically for their Financial Services division. Subsequently, he rejoined Sun Microsystems in the following year as the Chief Operating Officer in the Philippines. This was succeeded by a tenure at HP as the Director and General Manager overseeing Storage operations in the Asia Pacific Japan region. In 2008, he assumed the role of HP's Managing Director in Indonesia, holding the position for a tenure of four years. ASPEN EXPANDS ASIAN PRESENCE WITH SANDOZ CHINA DEALHEWLETT PACKARD ENTERPRISE APPOINTS KHAI PENG LOH AS SINGAPORE MD
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