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.

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