Pictured during the launch of Aspen Philippines (l-r): Dr. Fernando de Castro, Medical Director, Aspen Philippines, Inc.; Dr. Norma Ona, Hematologist, Vicente R. Potenciano Medical Center; Senator Edgardo Angara, Vice-Chair, Senate Committee on Health & Demography; H.E. Agnes Nyamande-Pitso, South African Ambassador to the Philippines; Mr. Greg Lan, Chief Executive Officer, Aspen Australia; Ms. Ace Itchon, President and CEO, Aspen Philippines, Inc.; Mr. Trevor Ziman, Deputy CEO, Aspen Australia; Mr. Keith Iu, Director Asian Markets, Aspen Asia Ltd.; Dr. Elmer Punzalan, Assistant Secretary, Department of Health; and Mr. Anthony Weymouth, Senior Trade Commissioner, Australian Trade Commission, Manila.
Aspen Pharmacare Holdings Ltd. supplies branded and generic medicine in about 100 countries and has now included the Philippine in its global operations. The company was established in October 2011 in Bonifacio Global City in Metro Manila with only four employees and an initial investment of P300 million (approximately R57 million). However, business operations only commenced in January 2012 and currently the company has employed about 100 Filipinos and plans to double its business volume to P1 billion (R182 million) by the end of 2013.
Aspen’s entry into the PH market is strategic in that the company can also tap into the Asian Health market, which is one of the biggest in the world. Currently Aspen has 18 manufacturing facilities in seven countries including South Africa. The company intends to source some of the products directly from their manufacturing plant in Port Elizabeth. This translates to more and secured jobs for South Africans as the company grows globally.
This launch follows closely on Gold Fields’ recent announcement that it has acquired a 40 % stake in Far Southeast mining project (Benguet area in northern Philippines). It is thus encouraging to note that South African companies are now venturing into the Philippines which is a lucrative market for growth.