In a span of 11 years, Aspen Pharmacare Australia has become one of Australia’s leading pharmaceutical companies, developing a reputation for reliable, regulated and affordable medicines. Aspen-marketed brands account for one out of seven prescriptions written in the country.
Aspen acquired Sigma Pharmaceuticals last year, strengthening its manufacturing capabilities and networks. The acquisition is expected to accelerate Aspen's growth in Australia and its expansion into Asia-Pacific.
Aspen's first subsidiary in the region, Aspen Philippines, will begin operations this year. It represents the company's initial step to replicate its success in Asia. "We want to bring to Asia affordable prescriptions with the Aspen stamp of quality," says deputy CEO Trevor Ziman. "It is a thrill to change someone's life through our medicines – this is the passion that drives us."
Aspen's growth has been guided by its relationships and contrarian approach across all facets of the business. The company's sales representatives have an average age of 65 years old, each bringing 30 to 40 years of experience and understanding of clients' needs and products.
Aspen's more than 800 products combine proprietary and licensed drugs, ranging from over-the-counter to prescription dermatology, cardiovascular, neurology and oncology medications.
Choosing to collaborate rather than compete with larger multinational corporations, Aspen offers an alternative by which companies can capitalise on quality products that receive limited resources and marketing spending. Aspen's back-to-back licensee partnerships include major industry players such as Novartis, Merck, Eli Lilly and GlaxoSmithKline.
In addition to pursuing the Philippines, Aspen plans to deepen its footprint in other Asian markets. It eyes Thailand, Taiwan, Malaysia, the mainland and Japan as key destinations in the next three years.
"Our goal is to reach more doctors and provide high-quality, regulated, reliable and affordable medicines," Ziman says. "We also want to bring partners the business acumen, market knowledge and financial backing that we have as a solutions-driven brand builder."
Content Last Reviewed On July 16, 2018