Aspen sells European thrombosis business to Mylan
The disposal should ensure Aspen is within debt covenants, and will help fix its leverage ratio, one analyst says
SA’s biggest pharmaceutical manufacturer, Aspen Pharmacare, has sold the commercial rights to its thrombosis business in Europe to US-based Mylan for €641.9m (R12.7bn), and will use the funds to further reduce its debt, it announced on Tuesday.
Investors welcomed the news, sending its shares up as much as 9.4% during intraday trading before closing 5.42% up at R141.33. The company has a market capitalisation of R64.5bn.