AfroCentric boosts pharmaceuticals portfolio

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AfroCentric boosts pharmaceuticals portfolio

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Published Date: 2021-04-29 | Source: Stephen Gunnion | Author: Stephen Gunnion

AfroCentric boosts pharmaceuticals portfolio

Subsidiary Activo is buying Exeltis SA, which has a strong pipeline of new products.

AfroCentric says its Activo Health subsidiary has bought Exeltis SA as it expands its product offering to the pharmaceutical market. It will pay up to R320-million for the pharmaceuticals company.

The investment holding company, which also owns Medscheme, medicines distributor Pharmacy Direct, as well as several other health related companies, said the acquisition was consistent with its growth objectives in the health sector.

Exeltis SA is the holding company of Forrester Pharma and Lamar International. Both companies are involved in the marketing, sales and distribution of pharmaceutical products in SA, Namibia and Botswana. They own a number of registered legal rights to manufacture and distribute a specific medicine molecule/brand (dossiers) and have the right to a substantial pipeline of dossiers in the process of being registered with the SA Health Products Regulatory Authority (SAHPRA).

AfroCentric said the acquisition would become effective on 1 August, subject to a number of conditions being met.

Its shares rose 2.3% to R4.85 yesterday.





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