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Aspen Pharmacare, SA’s biggest pharmaceutical manufacturer, warned investors on Wednesday that the war in Ukraine poses direct and indirect threats to the business, adding to the pressures arising from the coronavirus pandemic.

While Aspen’s operations in Russia and Ukraine do not make a significant contribution to the group, the conflict is pushing up energy prices and putting pressure on already high inflation rates in Europe that could have knock-on effects on the wider business. The two countries generate R1bn in annual revenue, about 2% of the group’s total, said Aspen CEO Stephen Saad...

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