Aspen buys rights to an anti-coagulant product from Novartis

Aspen Global Inc, a wholly-owned subsidiary of South Africa’s Aspen Holdings (JSE: APN), has entered into an agreement with Swiss pharma major Novartis (NOVN: VX) whereby it will acquire the rights to Mono-Embolex, an injectable anti-coagulant, for a consideration of $142.3 million.

Mono-Embolex is a heparin based anti-coagulant sold in the same therapeutic category as Aspen’s Arixtra and Fraxiparine. This product is, however, the only low molecular weight heparin that offers patients weight-independent dosing, thereby combining ease of administration with the proven efficacy in prophylaxis and therapy of deep vein thrombosis.

The product presents an excellent strategic fit with the group’s recent acquisitions in this therapeutic area and will be positioned as a simple-to-use once daily prophylaxis treatment supporting Aspen’s other current anti-coagulant offerings, the company said.