⁠Aspen Pharmacare will sell its major Asia Pacific assets, excluding China, to Australian private equity firm ⁠BGH Capital ‌for A$2.37 billion ($1.59 billion), the South African group said on Monday, as it looks to cut debt and boost capital.

South Africa's biggest pharmaceutical ⁠producer had no plans to sell those assets, but agreed to do so after it evaluated an unsolicited offer from Australia and New Zealand-focused BGH Capital, Aspen said in a statement.

The deal, which includes divestment of Aspen's first ⁠venture outside South Africa, in Australia ​and New Zealand, will help the company focus on producing GLP-1 drugs and bolster turnaround efforts.

"This transaction is ‍aligned with our strategic objectives and represents a compelling proposition for the Group and its shareholders," Aspen ​CEO Stephen Saad said.

The businesses' current employment conditions are intended to continue as normal, he added.

Aspen, which is a marketer for Eli Lilly's blockbuster diabetes and obesity drug Mounjaro, has been betting on the booming weight-loss drug market in a bid to offset contractual disputes and rising costs.

It also plans to restructure its manufacturing facilities in France and South Africa that produce sterile drugs entirely free from living microorganisms to cut costs.

In September, the firm reported an annual loss of 1.1 billion rand ($66 million), ⁠citing hefty asset impairments amid contractual disputes over mRNA ‌products.

The APAC assets it is selling include Hong Kong, Taiwan, Malaysia and Philippines, and constituted 18% of Aspen's total revenue and 26% of its core profit for ‌the year ⁠ended 30 June 2025, according to the company.

($1 = 1.4877 Australian dollars)

($1 = 16.6737 rand)