PE gets new pharma mega factory
Aspen Pharmacare has opened a R1 billion manufacturing facility in Port Elizabeth.
JSE-listed Aspen Pharmacare has opened a R1 billion high-containment facility in Port Elizabeth, the first of three planned manufacturing plants. Aspen will invest a further R2 billion into the construction of two sterile facilities for the manufacture of anaesthetic and injectable thrombosis products. Over the next few years, Aspen will move its offshore anaesthetic manufacture – currently outsourced to third parties – to this site.
Rob Davies, minister of the Department of trade and industry (Dti), said at the opening of the facility:
“We need SA companies to be more active in the export space. Aspen is taking the industry into a new space with its production of real value-added products.”
Aspen’s high-containment facility received a Dti S12i tax allowance, which allows it to claim tax credits to the value of R209 million over the coming years. The company anticipates exporting the bulk of what it produces here – some 90 percent.
Pictured: Sean Capazorio, Aspen Pharmacare CFO