Acino acquires selected Aspen brands in South Africa

Zurich, Oct. 22, 2021 (GLOBE NEWSWIRE) — ZURICH, Switzerland, 22 October 2021 – Acino and Aspen Pharmacare Holdings Limited and its subsidiaries (collectively, “Aspen”) have signed an agreement for Acino to acquire six South African prescription medicines for over €105 million (R1.8 billion).

The acquired medicines are used for the treatment of gastroenterology, erectile dysfunction and cardiovascular diseases. The acquisition will further strengthen Acino’s footprint in South Africa by expanding their offering in these important therapeutic segments.

The transaction includes the Trustan®, Altosec®, Zuvamor®, Ciavor®, Grantryl® and Aspen Granisetron® brands. To secure uninterrupted patient access to these medicines, the parties have also signed a manufacturing and supply agreement in terms of which Aspen will supply the Aspen manufactured products to Acino for a period of seven years.

This partnership is a compelling affirmation of Acino’s long-term strategy and purpose to increase people’s access to affordable healthcare in the areas where they need them most. This acquisition comes on the heels of a series of other strategic investments, including the acquisition of a women’s health portfolio in Russia earlier this year and Takeda’s primary care portfolio in 2020.

“This agreement will fortify Acino’s presence in South Africa and enable us to expand our diverse portfolio of high-quality, innovative treatments that help improve people’s lives”, said Steffen Saltofte, CEO of Acino. “Acino is committed to growing its footprint across our core emerging markets to deliver the best value to our patients, customers, suppliers and shareholders.”

John Norman, Regional Director English-Speaking Africa at Acino said, “I am very pleased to sign this agreement with Aspen. We work hard to make a meaningful contribution to the South African economy by providing best-in-class products and service to our patients and healthcare practitioners, as well as creating employment opportunities. This further aligns with our commitment to transformation and retaining our BBBEE Level 1 certification. With this acquisition, Acino will enhance the value of these brands through our in-depth expertise and experience in the market.”

Aspen’s Group Chief Executive, Stephen Saad, said, “This transaction forms part of Aspen’s communicated strategy to refine its product portfolio in South Africa. The acquisition of these trusted brands in South Africa represents excellent scaling and commercial opportunities for Acino as it expands its footprint in South Africa by adding these products to its existing product portfolio.”

The transaction is subject to customary closing conditions, including regulatory approvals. It is anticipated that the transaction will complete by 31 December 2021.

About Acino

Acino is a Swiss pharmaceutical company headquartered in Zurich with a clear focus on selected markets in the Middle East, Africa, Russia, the CIS Region, and Latin America. The company is backed by Nordic Capital and Avista Capital Partners. We deliver quality pharmaceuticals to promote affordable healthcare in these emerging markets, and leverage our high-quality pharmaceutical manufacturing capabilities and network to supply leading companies through contract manufacturing and out-licensing. For more information, visit www.acino.swiss. Acino has attained Level 1 BBBEE status in South Africa in 2020 and 2021. For more information: www.acino.swiss

About Aspen

Headquartered in Durban, South Africa, Aspen is a leading global specialty and branded multinational pharmaceutical company in both emerging and developed markets.

Aspen improves the health of patients in more than 150 countries through its high quality, affordable and effective healthcare solutions. The Group’s key business segments are manufacturing and commercial pharmaceuticals comprising regional brands and sterile focus brands that include anaesthetics and thrombosis products.

Aspen employs approximately 9,100 people and has 70 established business operations in over 50 countries. The Group operates 23 manufacturing facilities across 15 sites and holds international manufacturing approvals from some of the most stringent global regulatory agencies. Its manufacturing capabilities are scalable to demand and cover a wide variety of product-types including steriles, oral solid dose, liquids, semi-solids, biologicals and active pharmaceutical ingredients. For more information visit www.aspenpharma.com

For more details, please contact:  

Acino

Media Relations
Larisa Bernstein
Head of Corporate Communications

Acino International AG

larisa.bernstein@acino.swiss

Aspen

Media Relations
Shauneen Beukes
Aspen Group Communications Manager

sbeukes@aspenpharma.com

Attachments


Larisa Bernstein
Acino
larisa.bernstein@acino.swiss

Bombardier to Report Third Quarter 2021 Financial Results on October 28, 2021

MONTRÉAL, Oct. 21, 2021 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) will publish its financial results for the third quarter ended September 30, 2021, on October 28, 2021.

On October 28, 2021, at 8:00 a.m., EST, Bombardier will hold a webcast/conference call intended for investors and financial analysts to review the company’s financial results for the third quarter September 30, 2021.

A live webcast of the call and relevant financial charts will be available at ir.bombardier.com.

Stakeholders wishing to listen to the presentation and the question-and-answer period by telephone may dial one of the following conference call numbers:

In English: 514-392-1587, passcode: 4225431# or
1-877-395-0279, passcode: 4225431# (toll-free in North America)
Overseas calls: 800 4222 8835, code 4225431#
Look up country phone number
In French: (with translation) 514-861-1381, passcode: 5075227# or
1-877-695-6175, passcode: 5075227# (toll-free in North America)
Overseas calls: +800 4222 8835, passcode 5075227#
Look up country phone number

The replay of this call will be available on Bombardier’s website shortly after the end of the webcast.

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of more than 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com or follow us on Twitter @Bombardier. Visit the Bombardier Business Aircraft website for more information on our industry-leading products and services.

Bombardier is a trademark of Bombardier Inc.

For Information

Tinca Stokojnik Prouvost
Communications
Bombardier
T: 514-855-5001, ext. 51674

Rain wind-thunderstorm expected in Punjab, KP, GB & Kashmir

Rain wind-thunderstorm is expected in upper/central Punjab, upper Khyber Pakhtunkhwa, Gilgit Baltistan and Kashmir during the next twelve hours.

Hailstorm and snowfall over mountains are also expected at isolated places in upper districts.

Isolated heavy falls are also likely to occur in upper Khyber Pakhtunkhwa and Kashmir during the period, while wind thunderstorm with light rain is also likely in south Punjab.

Temperature of some major cities recorded this morning:

Islamabad and Murree fifteen degree centigrade, Lahore and Peshawar nineteen, Karachi twenty-seven, Quetta fourteen and Gilgit eleven degree centigrade.

According to Met office, partly cloudy/chances of rain wind-thunderstorm (snowfall over mountains) expected in Indian Illegally Occupied Jammu and Kashmir.

Temperature recorded this morning: Srinagar and Pulwama nine degree centigrade, Jammu nineteen, Leh zero, Anantnag seven, Shopian and Baramula eight degree centigrade.

Source: Radio Pakistan

Bestway Cement To Set Up a Brownfield Plant in KPK as Construction Industry Thrives

Unfolding a major investment plan, Bestway Cement Limited has announced to expand its operations with a new brownfield cement plant in district Haripur, Khyber Pakhtunkhwa.

According to stock filing, the company has planned to set up a brownfield cement plant — which will add 7,200 tonnes of clinker per day, a 9MW waste heat recovery plant, and a 6.4 MW off-grid solar power plant in the district.

The firm has decided to scale up its operations in order to tap into the rising domestic demand for construction materials.

For the waste heat recovery plant at Hattar, the company has signed an agreement with Sinoma International Engineering Co Ltd. It has also signed an agreement with Reon Energy for the off-grid solar power plant.

According to Bestway Cement Limited, it has secured all regulatory approvals and made all financial arrangements to execute the expansion plans, however, it has not disclosed the investment figures in the notification issued to Pakistan Stock Exchange.

The construction sector in Pakistan is witnessing a boom at present. It has also pushed up the demand for construction materials, including cement, across the country.

In the next few years, the cement sector is set to expand its capacity as various leading producers of cement have announced new plants in various cities.

Source: Pro Pakistani

NEPRA Hosts Seminar on Cyber Security

The National Electric Power Regulatory Authority (NEPRA), in line with its monumental initiative called ‘Power with Security,’ hosted an in-house seminar on Cyber Security today at NEPRA Tower.

The main objective was to create awareness about power assets of Pakistan among NEPRA Professionals on Cyber Security with special emphasis on the protection of the Supervisory Control and Data Acquisition (SCADA) system — a computer-based system used for gathering and analyzing real-time data — to monitor and control equipment dealing with critical and time-sensitive materials/events, and then roll out the same initiative by engaging NEPRA’s Licensees and other Stakeholders.

In his opening remarks, Chairman NEPRA, Tauseef H. Farooqi, highlighted the significance of “Power with Security.” He elaborated that the SCADA system is prone to cyber-attacks and not only that in any such unfortunate scenario, the Power Sector installations would not only be able to control their processes at local and remote locations, but it will also jeopardize the functions to monitor, gather, and process its real-time data. Hence, there is a strong need to pre-empt such vulnerabilities through the introduction of effective cyber security tools.

Najeeb Ahmad, Peter Kreutzer, Torben Cederberg, and Willem Groen briefed the participants about various types of Power Grid Solutions of Hitachi ABB and the Cyberthreat protection used against Industrial cyber-attacks/vulnerabilities, the social engineering attacks, and the differences in implementation of cyber security in such systems. They also put emphasis on the need for industrial security solutions, remote access, incident handling, formulation of an effective cyber security department, and regulations so that the threats are handled effectively.

The webinar concluded after detailed Questions and Answers session of the participants with the Chairman and the Speakers.

The seminar was headed by Chairman NEPRA, Tauseef H. Farooqi, and attended by a large number of NEPRA professionals. The participants were sensitized about the importance of Cyber Security by Chairman NEPRA, Tauseef H. Farooqi. Managing Director, Hitachi ABB Power Grids Pakistan, Najeeb Ahmed, and renowned International Cyber Security Experts from Sweden and Switzerland, including Peter Kreutzer (Global Product Manager), Willem Groen (Lead Cyber Security Network Control/HVDC), and Torben Cederberg (Regional Sales Director Network Control).

Source: Pro Pakistani

Govt Exempts SMEs with Business Turnover of Rs. 50 Million from Marking Fee

The Small and Medium Enterprises (SMEs) making a business turnover of Rs. 50 million have been exempted from the levy of marking fee, as the government has decided to facilitate the SMEs and the manufacturers of compulsory products to give them relief amidst the inflation.

The Board of Directors of Pakistan Standards and Quality Control Authority (PSQCA), in its 23rd meeting, approved exemption.

It has been decided that the marking fee is to be reduced for more than 1500 industries that manufacture essential products and are registered with Pakistan Standards and Quality Control Authority to give them relief due to Market inflation in business to support the local industry.

The following table depicts the revision of the marking fee.

The PSQCA marking fee was previously revised in 2008 at the rate of 0.05% ex-factory price for food items and 0.1% ex-factory price for non-food products. The government was receiving requests from the industry to revise the marking fee.

The reduction will facilitate the micro, small, medium, and large enterprises of food as well non-food producing enterprises. It will also encourage new businesses to register and come under the ambit of licensing and certification regimes. Moreover, it will help increase the size of the economy.

Source: Pro Pakistani