Building on the successful launch of Mounjaro vials in SA, Aspen CEO Stephen Saad said the group aims to expand the sought-after weight-loss drug to the rest of Africa next year, strengthening its foothold in the fast-growing therapeutic market.
“We are in the process of registering Mounjaro more broadly across Sub-Saharan Africa, with launches anticipated in 2026,” Saad said in his annual letter to shareholders.
“Our expanding multinational partnerships continue to unlock new opportunities. A standout achievement was the launch of Mounjaro, underscoring the strength of our collaboration with Eli Lilly and our ability to bring innovative therapies to underserved markets,” he said.
“The conclusion of a long-term distribution and promotional agreement with Boehringer Ingelheim further enhances our portfolio with complementary growth assets.”
Aspen launched Eli Lilly’s Mounjaro in December 2024 for the treatment of type 2 diabetes in SA.
The launch of Mounjaro in SA contributed positively to earnings in the six months to June, with Saad saying few products have seen a surge in sales so soon after going to market. He expects the business to grow sales to R1bn in the next few years.
The group this month received a regulatory shot in the arm after the SA Health Products Regulatory Authority approved Mounjaro (tirzepatide) as a chronic weight management treatment.
The company’s manufacturing business was dealt a blow this year following the significant impact of the loss of the messenger ribonucleic acid (mRNA) products contract.
The loss of the contract, which has led to a contractual dispute between Aspen and its partner, was described by Aspen chair Kuseni Dlamini as a “significant challenge” the group faced in the 2025 financial year.
“While the details of the dispute remain subject to contractual confidentiality, the potential impact on the group’s performance was considerable, and the board was acutely aware of the heightened investor scrutiny following the announcement,” Dlamini said in his letter to shareholders published in the group’s annual report.
“In response, the board has treated this matter with the utmost seriousness, working closely with the executive team to implement decisive actions reshaping our strategic approach, stabilising operations and reinforcing stakeholder confidence in Aspen,” he said.
Some of the measures the group has undertaken to mitigate the loss of the contract include the successful commercialisation of the insulin contract in SA, combined with reshaping its French and SA facilities to better align resources with current contracts.
News of the loss of the contract in April sent Aspen’s share price into freefall, shedding more than a quarter of its value. It prompted Saad to spend his own money buying the group’s shares for more than R200m to shore up confidence. The group’s executives own about 13.5% of the multinational drugmaker.
Aspen, which operates 24 manufacturing facilities across 15 sites, is now valued at about R45bn.
