"This not only creates export revenue but gives domestic security in supply," said Saad.
Aspen said most of the products would be exported.
Aspen, Africa’s biggest generic drugmaker, has been expanding rapidly outside South Africa, where a heavily regulated pharmaceuticals market has put a cap on growth. The firm is a supplier and manufacturer of branded and generic pharmaceutical products, as well as infant nutritional and consumer healthcare products.
Aspen, which counts developed Europe as its biggest revenue generator, said in March normalised headline earnings per share (HEPS) for the six months ended Dec. 31 rose to 872 cents from 692 cents, buoyed by a strong result from therapeutic-focused brands and positive performance of the pharmaceutical business in its home market.
Therapeutic-focused brands comprising the anaesthetics, thrombosis and high potency and cytotoxic portfolios, delivered revenue of 9.9 billion rand, contributing 45 percent of total group revenue during the period.