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Aspen delivers on objectives, slashes debt burden
Pharmaceutical giant Aspen Pharmacare expects earnings from continuing operations to increase for its half-year results to 31 December 2020. The pharmaceutical industry is one that has been shown to be defensive in nature, despite the obstacles the pandemic has caused on various industries, Aspen has managed to escape unscathed. In 2019, investors were concerned about Aspen’s growing debt burden, which surged to over R50bn at its peak. The group has managed to dispose of non-core assets, including its European Thrombosis Business, which has effectively managed to reduce the company’s debt burden to around half of what it was 18-months ago. Founder and CEO, Stephen Saad, has managed to consistently deliver on his stated objectives set out in 2019 when the company’s share price fell below R70, a fall of around 80%  from its peak in 2015. With Saad and co-founder Gus Attridge being two of the group’s largest shareholders, ....

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