Aspen Pharmacare has seen some financial weakness lately, but that hasn’t stopped it from pledging to make its largest manufacturing investment ever. The South African drugmaker says it will invest nearly $235 million in a facility to manufacture sterile anesthetics.
The announcement was made Friday at a government-sponsored economic conference in the country. Stavros Nicolaou, Aspen senior executive offered few details, saying only that the R3.4 billion facility would be built at its Port Elizabeth manufacturing site and that it offered a high tech manufacturing niche “that presents both domestic and export opportunities.”
Aspen Pharmacare says it will build a new facility at its Port Elizabeth site to make sterile anesthetics. (Aspen Pharmacare)
The company has said that the sterile anesthetics drug facility, along with a high containment facility that it opened in May, will allow Aspen to add 500 jobs at the Port Elizabeth site.
“Aspen has become one of the global leaders in a number of niche, speciality therapeutic segments, such as anesthetic, high potency and injectable anti-coagulant products, which present highly specialized public and private health opportunities,” Nicolaou said.
The $80 million, 23,000 square-meter, high potency facility opened last spring produces specialized meds like alkeran, leukeran and purinethol for cancer, as well as Parkinson’s disease drug benztropine.
The company’s share price has fallen by nearly half since September when it reported weaker than expected financial results. At the time it also said (PDF) it would sell its nutrition business to Lactalis Group for €740 million. Analysts told BusinessDay that in addition to the weak numbers, the sale of the nutrition business for half what some expected has weighed on the company’s share price.
These Terms & Conditions (hereinafter may also be referred to as the T&Cs””) of Makromed__ (hereinafter referred to as the “Makromed”), represent legal basis for relations between you and Makromed Co, which operates a third-party cross-border trade System for pharmaceuticals and medical devices independently developed by Makromed___ (hereinafter referred to as “the System”). Your use of the System (including but not limited to connecting to, accessing or browsing the System, or using various services or functions provided by the System) shall constitute your acceptance of these T&Cs. In view of this, you are advised to carefully read the contents of thereof.
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1. At the present stage, the System provides information and services free of charge. In case of any chargeable item, users will be notified separately. The System reserves the right to amend this Clause V of the T&Cs. Once the Clause V is amended, the amendment shall be issued immediately and shall come into effect at once. Please be noted that: 1) You shall be solely responsible for paying all tax payable incurred because you conduct any transaction, obtain any paid service from this System or access the System as well as relevant software or hardware, communication, network service charge and other expenses. 2) The System reserves the right to temporarily or permanently change or stop partial or whole services without any written notice and subject only to the publicity on the System.
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3. If any effective legal instrument confirms that a User’s act is in violation of any law or the T&Cs, or the System believes at its sole discretion that a member is suspected to be in violation of any law or the T&Cs, the System shall be entitled to publish and deal with the user’s act in violation, including but not limited to cancelling or permanently freezing the account or permanently banning the use of the System.
VIII. Suspension & Termination of Service
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1.1. (a) Failure of update of the registration information when inconsistency exists between any member’s license information such as business license and the registration information and(b) failure of update of the license information when inconsistency exists between the actual business information and the license information;
1.2. Publication of any information infringing on any third party’s property right, copyright, patent, trademark, trade secret, intellectual property, right of privacy, right of reputation or authorship; in case a publication (a) contains any defamatory, intimidating, harassing, obscene, pornographic or insulting content; (b) contains any fraudulent content; (c) uses discriminatory or derogatory words involving religion, race or gender; contains any information disallowed by the System or unsuitable for propagation or transaction through the System;
1.3. Publication of a duplicate information wantonly on the System without any request or authorization, publication of information beyond the scope of business of any member or publication of a unresably big volume of information unrelated to business on the System;
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1.5. Attempts of inflicting intentionally damage to the servers of the System or the network integrity, or access the servers or the network of the System without authorization;
1.6. Use or provision of any computer software containing any virus, disguised destructing program, computer worm, ticking time bomb program, intentional destruction, malicious interference or secret interception or encroaching any system, data or personal profile;
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1.8. Selling the account or authorizing other persons to use without the consent of the System;
1.9. Any act in violation of laws, regulations, rules or relevant agreements, provisions, regulations and procedures of the System.
2. You have the right to request the System to cancel your account. Upon examination and approval, the System may cancel your account. Then the contractual relations between you and the System is terminated. After your account is cancelled, the System is not obliged to keep or disclose any information of your account or transmit any message unread by you or already sent by you, to you or to or from any third party.
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3.1. The System has the right to continue to store your information;
3.2. The System may still claim rights if you have any act in violation of laws or the terms of the T&Cs during your use of the services;
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1. Makromed shall make its best endeavors to give you pleasurable experience during your use of the System. However, Makromed cannot guarantee that the System is free of interference and troubles, and no guarantee is provided. For this reason, you shall understand and agree that you are solely responsible for any loss due to human or non-human factors, including but not limited to unexpected interruption of website, delay of operation or transmission, computer virus invasion, network connection failure and data loss.
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3. The System shall try its best to minimize errors. However the services or information provided by the System may contain mistakes. The System cannot guarantee the truth, timeliness, security, accurateness and legality of the information published by users. In no event shall the System assume any legal liability for any direct, consequential, occasional, special or punitive damage or loss caused to any User due to the use of the System by such User as well as all other damages and losses even if the System has been informed in advance about the possibility of any damage and loss. You shall independently take the risk due to the use of the System.
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5. If you are not satisfied with partial or all services offered by the System, you have the right to stop using such services.
X. Intellectual Property Right
1.All contents on the System, including but not limited to the words and pictures created by the System are protected under the law. Without the prior written permission of Makromed, no User is allowed to use the contents of the System in whole or in part in any form, including but not limited to company information. The System reserves the right to investigate legal liabilities.
2.Use of trademark designed, used and owned by Makromed without prior permission by Makromed is prohibited.
3.TheSystem enjoys the intellectual property right of its developed or co-developed systems. All rights reserved.
XI. Application of Law, Jurisdiction & Miscellaneous
1. The effect, conclusion, amendment, implementation, interpretation and settlement of disputes arising out of the T&Cs shall be governed by the laws of the Republic of Georgia. With respect to any legal dispute arising out of or in connection with the T&Cs or the services provided by the System, a legal action shall be brought to the competent courts of the Republic of Georgia, which shall hold the jurisdiction on the disputes. The laws of the Republic of Georgia shall be applicable without regard to its conflict of law provisions and you shall agree to submit to the exclusive jurisdiction of the courts of the Republic of Georgia. Where no relevant legal regulations exist, a reference shall be made to the general international business practice and/or industry practice.
2. Relationship between you and the System is similar to one existing between independent contractors. The T&Cs shall not be construed as establishing or creating any relationship of agency, partnership, joint venture, employer and employee or licenser and licensee relationship.
3.You agree that the System has the right to transfer the rights and obligations under the T&Cs in part or in whole as necessary to carry out its business without any notice to you or your consent.
4. If any clause of the T&Cs is judged as ineffective or unenforceable, the term shall be held amended and applicable in a manner and form as close to its previous meaning being at the same time effective and enforceable. If this proves to be impossible then the term in question shall be revoked while the rest clauses shall continue to be effective and binding. All headings in the T&Cs are provided only for convenience, and shall have no legal effect.