COMPETITION COMMISSION INVESTIGATION
Aspen shares stable as market sees big picture
The market is keeping a close eye on the global move to review pharmaceutical practices, says analyst
Aspen’s share price on the JSE has remained resilient, after local competition authorities launched an investigation into alleged excessive pricing in the provision of certain cancer medicines in the country. Last week, the Competition Commission announced it was investigating Aspen and multinational pharmaceutical manufacturers Roche and Pfizer for suspected excessive pricing of their cancer drugs. Aspen’s share price was unmoved after the announcement on Tuesday last week, closing at R275 on the day. It rose 0.55% on both Wednesday and Thursday to end the week at R278.01. On Monday, Aspen closed almost unchanged at R277.86. In total, the share price fell 0.28% for the week. Portfolio manager at Gryphon asset management Casparus Treurnicht said there was a global move to review pharmaceutical practices and how they had been operating over the past few years from an ethical point of view. The market was keeping a close eye. "Should there be any penalties from this region then this w...
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