BUSINESS NEWS - South African global pharmaceutical giant Aspen Pharmacare has found itself caught in Trump tariff-related market volatility, as it witnessed R22 billion being wiped off its JSE market capitalisation following a fallout related to a contractual dispute with an unnamed client linked to the manufacture of mRNA products.
The company flagged the dispute in a Sens filing after market close on Tuesday, confirming the financial impact could be as much as R2.77 billion in its core Aspen Manufacturing business for FY2025 alone.
The group is also facing further pressure from the Donald Trump administration following the US substantially cutting its healthcare aid globally, including treatment of HIV/Aids in SA.
Aspen was forced to do a hastily convened investor call, addressed by its group CEO and co-founder Stephen Saad, at 08:00 on Wednesday morning in the wake of the dispute.
However, it was before markets opened and failed to curb a massive selloff in the company’s shares.
Read more on Caxton publication, The Citizen
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