Aspen Pharmacare Holdings Limited ("the Company" or "Aspen" and, when referred to with inclusion of all its subsidiaries, "the Group") is a South African headquartered global specialty and branded pharmaceutical company listed on the JSE Limited.
We are pleased to present our Integrated Report for the financial year ended 30 June 2023. This is our primary report to our stakeholders in which we aim to provide a balanced and accurate reflection of our strategy and business model, risks and opportunities, our performance as well as Aspen's future outlook in relation to material financial, economic, social and governance issues.
We are a global specialty and branded pharmaceutical company committed to promoting access to medicines and improving the health of patients across the world through our high quality, affordable products. Active at every stage of the value chain, we are uniquely diversified by geography, product and manufacturing capability
This year we celebrate our 25th year as a JSE-listed company. The associated theme follows throughout our Integrated Report as we demonstrate our commitment to providing access to high quality, affordable medicines over this period, thereby enabling everyone to live a healthy and fulfilled life. This commitment is also aligned to the World Health Organization’s (“WHO’s”) promotion of Universal Health Coverage and we are committed to advancing the goals and outcomes of the United Nations SDG3 of “ensuring healthy lives and promoting well-being for all at all ages”.
Further, we believe that our industry position as a global pharmaceutical company, with a relevant portfolio of medicines and strategic manufacturing capability, is the most fundamental way in which we contribute to increasing access to medicines and furthering the global goal of universal access to healthcare.
Our ethos Healthcare. We Care. is the cornerstone of our philosophy which has driven strategic mergers and acquisitions that have created scope for global expansion, an enhanced therapeutic product portfolio and multi-continental state of the art manufacturing capabilities over 25 years.
More than 60 agreements with leading pharmaceutical multinational companies to:
More than 1 600 commercial products across a broad range of ailments and therapeutic categories, ranging from:
We have invested more than R23 billion globally in state-of-the-art world-class manufacturing facilities in 11 countries with production capabilities in steriles, oral solid dose, liquids, semi-solids, biologicals and APIs.
An increased presence across six continents to facilitate portfolio management, promotion, distribution, manufacturing, regulatory and egislative compliance in reaching patient populations in more than 115 countries.
Our employees in 65 locations demonstrate optimal teamwork and tirelessly pursue product and distribution efficiencies through advanced supply chain management processes underpinned by leading-edge digital technology systems, ensuring a reliable supply of medicines to the patients that need them.
More on our leadership, governance and performance
Our value creation process, which is driven by our purpose and vision, is an integral part of our Business Strategy. We leverage and apply our stock of capitals to deliver on our strategic objectives, optimising value creation and preservation for our stakeholders, while minimising value erosion.
Our Business Strategy outlines our plan of action to achieve short-, medium-, and long-term goalsView here
Our differentiated business model and globally integrated value chain allows us to respond to the changing business contextView here
Our sustainability pillars are the foundation on which our strategy is built and demonstrate our commitment to operate in a responsible wayView here
Aspen’s Sterile Focus Brands encompass a diverse range of trusted post-patent pharmaceutical products designed primarily for acute hospital settings. This diverse portfolio places a strong emphasis on sterile preparations and covers critical medical areas such as anaesthetic and thrombosis therapies.
Sterile Focus Brands’ revenue (%)
26% of Group revenue
34% of Group gross profit
Regional Brands portfolio is the largest revenue contributor and comprises a portfolio of global and domestically recognised brands across OTC, consumer, branded and generic prescription products. Our skilled in-country marketing and sales teams in key regions drive the organic growth of these wellrecognised brands, ensuring they meet diverse healthcare needs worldwide.
Regional Brands’ revenue (%)
46% of Group revenue
59% of Group gross profit
Aspen operates 23 manufacturing facilities spread across 15 sites. Our strategic manufacturing sites have earned international accreditation from some of the world's most stringent global regulatory agencies. Our manufacturing capabilities encompass a wide range of product types, including steriles, oral solid doses, liquids, semi-solids, biologicals, and APIs.
Manufacturing revenue* (%)
28% of Group revenue
7% of Group gross profit
As a pharmaceutical company, and aligned to our purpose of improving the health and quality of life of patients, we have a responsibility, and the opportunity, to make a meaningful contribution to the global challenge of making healthcare available to all.
180 medicines on the WHO Essential Medicines List
Patients in more than 60 low and middle-income countries treated with our medicines
11 SED initiatives aimed at strengthening healthcare, including emergency product donations
To deliver on our purpose of improving the health and quality of life of patients, we must attract, develop and retain diverse people who are the best at what they do.
R9 billion in salaries and benefits paid to our more than 9 100 employees
R59,8 million invested in training and development initiatives
35% female representation in senior roles
Zero occupational fatalities
Our long-term success depends on building and maintaining trust with society. Responsible corporate citizenship is grounded in a commitment to upholding the highest ethical standards in the conduct of our global business operations.
Strong corporate governance aligned with King IV principles
218 SED projects implemented across 22 countries
R4 496 million spent with empowered suppliers in South Africa
Constituent of FTSE4Good Index and
Top 30 FTSE/JSE Responsible Investment Index
We are committed to operating an ethical and responsible business underpinned by our shared values and governance structures. We uphold the dignity, fundamental freedoms and human rights of our employees, contractors and the communities in which we live and work, and others affected by our activities.
Access to a clean, healthy and sustainable environment has been declared a universal human right. To enable a healthier world, we must take steps to reduce the impact we have on the environment as we convert and use natural resources in the manufacture and distribution of our quality medicines and APIs.
28% reduction on Scope 1 and Scope 2 emissions over the past five years
37% reduction in water withdrawn over the past five years
86% waste recycled and only 2% to landfill
CDP-CC and CDP-WS performance
rated as "B Management Level" and
"B-Management Level", respectively
Achieving impact through our sustainability pillars