Carey has advised Pennsylvania-based pharmaceutical company Viatris on the Chilean aspects of its divestment of intellectual property rights regarding several of its brands in Latin America, which it sold to South Africa’s Aspen Pharmacare for US$280 million.
Aspen settled the transaction with a cash payment of US$150 million to Viatris, which was accompanied by an extension of supply terms to the seller.
In the transaction, Aspen acquired rights to sell a portfolio of pharmaceutical products, comprising the medical brands Lipitor, Viagra, Lyrica, Zoloft, Norvasc and Celebrex, in various Latin American countries. The two companies entered a supply agreement, through which Viatris will supply Aspen with those branded products for seven years.
Aspen broadens its horizons in Latin America with the purchase, expanding its portfolio and scale of operations in the region.
