Africa’s leading pharmaceutical firm, Aspen Pharmacare Holdings Ltd., is set to play a pivotal role in alleviating the supply shortage of the world’s most sought-after obesity medications, according to CEO Stephen Saad.
In an interview, Saad disclosed Aspen’s capacity to bolster the availability of highly demanded medications, including Eli Lilly & Co.’s blockbuster diabetes drug, Mounjaro, across Southern Africa.
Aspen aims to contribute through “fill and finish” services, involving the packaging of drugs for distribution.
Aspen’s role in easing global obesity medication supply
The surge in demand for new obesity and diabetes treatments has spurred companies like Eli Lilly and Denmark’s Novo Nordisk A/S to capitalize on the market opportunity.
- However, supply constraints have hindered their ability to meet soaring demand.
- Aspen envisions a broader role in the production of glucagon-like peptide 1 diabetes drugs and high-dose obesity medications at its primary facility in South Africa, Saad revealed.
- Already engaged in partnerships with global pharmaceutical and biotechnology firms for niche products in emerging markets, Aspen’s collaboration with Lilly followed a significant $280 million agreement with Viatris Inc. in August, encompassing the acquisition of a product portfolio, including the renowned erectile dysfunction drug, Viagra.
Saad emphasized that Aspen’s expansion into obesity medication production does not detract from its commitment to vaccine manufacturing in Africa or its anesthetics line in South Africa.
The company transitioned its focus from generic medicines to sterile products, including anesthetics, to tap into higher-value markets.
“We’ve put all our bets into building these facilities globally and building the active pharmaceutical ingredient capacities as well,” Saad affirmed, highlighting Aspen’s strategic trajectory towards maximizing capacity at sterile facilities.
In line with the African Union’s objective to localize 60% of vaccine production by 2040, Saad stressed the imperative for accelerated production by African manufacturers.
Currently, African nations rely heavily on foreign suppliers for over 90% of their vaccines, with a significant portion dedicated to childhood immunization.
Localizing vaccine production not only fosters self-reliance but also generates employment opportunities for African pharmacists, biologists, and innovators, Saad noted, underlining the broader socio-economic benefits of bolstering pharmaceutical manufacturing capabilities on the continent.