The Southern Hemisphere’s biggest manufacturer of generic medicines, Aspen Pharmacare Holdings is considering additional acquisitions in Brazil and Latin America at large. The firm is keen on growing its business from the Latin America to other parts of the world such as Australia.

In its plans, Aspen will target Latin America for continued investments aimed at establishing a more robust foothold that will in turn enable it establish a vigorous presence in Australia and other areas.

Stephen Saad, Aspen chief executive officer of Durban, South Africa said the South American Continent represents the firm’s most promising expanse in terms of growth and expansion. That arises from the simple fact that Brazil provides the highest risk, as well as the highest rewards, said Saad. Aspen Pharmacare Holdings has operations that span the globe, with supply operations in 100 countries globally. Brazil’s position as one of the fastest growing pharmaceuticals markets certainly offers opportunities for growth, said Saad.

The firm hopes shareholders of Sigma Pharmaceuticals Ltd, the Australian pharmaceuticals firm Aspen offered an A$900 million takeover bid for will vote in favor of the deal. The shareholder vote is expected by the end of October. The offer was a cash consideration for Sigma Pharmaceuticals Ltd’s generic drugs unit. According to Saad, if the deal gets the shareholders’ nod, it will be sealed in November.

The acquisition is expected to bolster Aspen’s three year expansion strategy that has been behind Aspen’s success in establishing a foothold far and wide, such as in Brazil, Mexico, Africa and other Latin America states. Analysts have been upbeat over Aspen’s growth mechanism, a strategy that has left investors awed by the firm’s futuristic strategies for a harmonized expansion into the future. Aspen’s share price gained its highest Thursday, marking the biggest such gain since the firm was established some two decades ago.

Analysts expect Aspen to benefit from further gains in its share price. It posted a 49 per cent increase in its financial full year profit after gains in South African currency cut down the cost of imported materials.

Aspen has businesses in South Africa, Brazil, Mexico, Venezuela, Colombia, Ireland, Germany, Kenya, Uganda, Tanzania, United Arab Emirates, Mauritius, Hong Kong and Australia. It is Africa’s largest pharmaceutical manufacturer and is a supplier of branded and generic pharmaceuticals in approximately 100 countries across the globe.