Aspen Pharmacare
Aspen Pharmacare Holdings Limited is a multinational South African holding company for pharmaceutical concerns, and the largest drug company in Africa. History. Activity in HIV/AIDS-related medicines. After complaints of anticompetitive activities by Boehringer Ingelheim and GlaxoSmithKline in 2003, Aspen was granted licenses from the companies to create generic versions of antiretrovirals (ARV) for use in the Sub-Saharan portion of Africa. At the time, Aspen was already the largest generic medicine distributor in South Africa. Subsequent inspections by international organisations led to a rapid increase in distribution capabilities, primarily though integration with alliance partners. The company 's efforts led to expanded access to affordable treatments for HIV/AIDS. Price-gouging. Aspen has been criticised for increasing the prices of generic drugs it sells. It was fined for price-gouging in Italy where it paid $5.5m in October 2016 for its behaviour. It has been accused of the same practices, including artificially restricting supply, in the UK, Australia, New Zealand, Spain, France and Brazil. In France, three people died after being given cyclophosphamide, an alternative drug to Aspen's melphalan which had gone up in price. An investigation is currently ongoing. Similarly, Aspen's busulfan , a treatment for chronic myeloid leukaemia, was bought by the British National Health Service for 21p for 2 mg in 2011, rising to £2.61 in 2016, a hike of 1,143%. "The Guardian" newspaper has linked this activity to a rise in Aspen's share price. Between 2009 and 2016 it rose more than 650% and GSK sold its shares in Aspen earning about £1.5bn. In May 2017, the European Commission announced it would open an investigation into Aspen's pricing practices. The investigation was conducted due to rising prices for five drugs (chlorambucil, melphalan, mercaptopurine, tioguanine and busulfan ). In July 2020, the European Commission announced in a communication that Aspen committed to a 73% price reduction of the medicines over 10 years while guaranteeing supply over a minimum period of 5 years. In order to prevent any further abuse of a dominant position, if Aspen intends to discontinue the supplying, the company must inform the concerned Member States authorities of this intention at least one year in advance and must make the marketing authorizations for the products available to any interested third party. Thyrax shortage in The Netherlands. In January 2016, Aspen announced that due to production problems , tablets with 0.025 mg Thyrax (levothyroxine) would not be available from mid-2016. Later, it was announced that this shortage would last well into 2017. People who took this medication had to switch to alternatives, which led to 30% of them experiencing side-effects because of this shift.