Aspen’s baffling ailment
The group’s swift descent from market darling to pariah has been as painful as it is perplexing, debt woes aside
The market diagnosis for Aspen Pharmacare looks dire. In the past month the group’s shares have shed almost 30%. Over six months the share price is down about 50%, and over three years a stomach-churning 80%.
These are not the vital signs investors would associate with one of the top-performing JSE blue-chip counters over the past two decades. Worries about its debt aside, the share price movements suggest there is an underlying fear that Aspen’s results for the year to end-June might throw out a few operational ailments.