May 8 2025 17:30
Stephen Saad, picture supplied
CEO and founder of Aspen Pharmacare, Stephen Saad, has acquired two tranches of shares worth R46 154 431.65 and R55 628 698.00 respectively. This is according to the JSE’s stock exchange news service. Saad is a billionaire entrepreneur who has bought shares when JSE-listed Aspen Pharmacare’s price has tanked in the past. Aspen’s share price is down 48.02% on a 1-year basis.
Most of the share drop occurred two weeks ago when it plunged 30%, a day after the company issued a profit warning over what it called a “material contractual dispute”.
Aspen alerted shareholders to the dispute after the close of the local stock market on the Tuesday.
It said it related to a manufacturing and technology agreement with a contract manufacturing customer for mRNA products, saying details were subject to contractual confidentiality.
The dispute could have a material direct impact on its French sterile manufacturing site, the driver of profitability in its manufacturing segment in recent months.
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