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
08 September 2020 - 09:38
UPDATED 08 September 2020 - 18:00
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.