11. Aspen


Durban, South Africa
2016 generic sales: $1.97 billion (estimate)

Falling just outside of the world’s top 10 generic drugmakers, South Africa’s Aspen Pharmacare is on track to generate an estimated $1.97 billion in generic sales during its current fiscal year, according to an estimate from Evaluate, enough to rank it No. 11 for 2016’s largest generic drug producers.

Aspen has 27 manufacturing facilities at 18 sites on six continents, according to its website, and produces 24 billion tablets each year. With sales in more than 150 countries, the generic drugmaker is worth about $10 billion.

RELATED: AstraZeneca gins up $520M-plus selling anesthetics rights to Aspen

Looking to continue its growth spree, Aspen last year set out $520 million up front and up to $250 million in milestones to purchase a portfolio of older anesthetic drugs from AstraZeneca. At the time, Aspen CEO Stephen Saad said the deal represented a “strategically important investment” for his company and an “excellent opportunity to build on the quality brands” the company has worked to market.

For Aspen, that acquisition represented the latest in a series of recent deals. During the company’s string of M&A activity, Aspen spent more than $2 billion on drug and facility purchases from top pharma companies like Merck and GSK, South Africa’s Business Daily reports.

RELATED: South Africa's Aspen has rapid expansion aims for China market

Aspen is also making a growth push in China. Last July, Saad told the Business Daily the company would increase sales reps in the country by an extra 350 “in the next few months,” aiming for a total of 500 new reps in the market.

"Aspen believes absolutely that it can expand quickly into a market such as China, because the critical thing when it comes to medicine beside the price point is quality of the product," the helmsman told BD.

In September 2016, GSK sold the last of its Aspen stake in a transaction worth $620 million. Aspen's fiscal year ends on June 30, 2017.

11. Aspen