Aspen back in the deal-making swing of things
Aspen has rekindled some of its old mojo with a series of deals that should, in theory, get its steriles manufacturing plants pumping. But it won’t all be plain sailing
07 September 2023 - 05:00
Aspen appears to be back to its free-wheelin’, deal-makin’ self, after five years of grind that was forced by a debt crunch reckoning back in 2018. So why did the market take such affront to the pharma group’s year-end results? Shares in Aspen — which have staged a formidable recovery from its 2019 lows — slid 11% over the week, though the stock is still 21% higher year to date.
“Cash generation and earnings were weaker than the market was expecting, but both should improve over the next two years,” says Centaur Asset Management MD Roger Williams. ..
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