Aspen will manufacture and sell its own branded Covid-19 vaccine in Africa, following an agreement with Johnson & Johnson.
Johnson & Johnson is granting Aspen an intellectual property licence to produce its vaccine under the new brand name "Aspenovax".
According to the deal, Aspen will manufacture the vaccine from drug substance supplied by Johnson & Johnson, and then sell the vaccine under Aspen branding to African governments.
The agreement runs until end-2026, and can include new versions of the Johnson & Johnson vaccine. These can include boosters or jabs created for new variants.
Aspen, the biggest medicine producer on the continent, currently has an agreement with Johnson & Johnson to package and fill vials of the American company’s vaccine at a plant in Gqeberha.
Aspen's share price has rallied by more than 11% over the past two days.