Aspen Commits To Further Reshaping If Opportunity Arises
Weakening Of The South African Rand Has Material Impact
South African’s Aspen Pharmacare has published first-half financials results that match a recent trading update, following a major reshaping. The new-look firm says it has “spent a long time building and a long time justifying building.”
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Aspen Pharmacare is continuing to ponder offloading another part of its operations, with bids under consideration for its significant API business units. The company only recently sold a basket of products in South Africa to Acino.
Adcock Ingram enjoyed a rise in sales but a dip in profit during its 2020/21 financial year, as the South African firm laid out plans to launch 20 products during its current financial year ending in June 2022, including 18 generics and one new chemical entity.
Aspen expects to report significant growth in its continuing operations for the first half of its financial year, following deals with Sandoz and Viatris that have seen the South African firm divest major businesses in Japan and Europe.