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Key Points
- Stephen Saad’s stake in Aspen Pharmacare has dropped by $21.13 million in 20 days, reflecting a sharp slide in the company’s stock price.
- Aspen shares have declined 5.24% since June 10, dragging the drugmaker’s market cap to around $2.9 billion.
- Year-to-date, Aspen stock is down 27.66%, cutting a $100,000 investment to $72,340, highlighting growing investor caution.
Stephen Saad, South African pharma tycoon and CEO of Aspen Pharmacare, has seen his stake in the company slip below $400 million. Shares of Aspen, the continent’s largest drugmaker, have been sliding on the Johannesburg Stock Exchange in recent weeks.
Aspen shares drop, Saad’s stake down
Saad holds a 12.8-percent stake in the company, about 57.22 million shares. Over the past 20 days alone, the value of that stake has dropped by R376.42 million ($21.13 million), falling from R7.19 billion ($403.61 million) on June 10 to R6.81 billion ($382.47 million).
Between May 13 and May 23, Saad saw a similar drop, losing about $21.42 million as Aspen shares came under pressure. The back-to-back declines reflect a broader dip in investor confidence and an ongoing sell-off in the company’s stock.
Market cap slips below $3 billion
Aspen Pharmacare, founded by Stephen Saad in 1997, has grown into a major force in South Africa’s pharmaceutical industry, playing a key role in his wealth. With operations in more than 115 countries, the company has expanded steadily under his leadership.
Aspen Pharmacare’s share price has declined 5.24 percent in the past 20 trading days, falling from R125.85 ($7.07) on June 10 to R119.26 ($6.70). The pharmaceutical giant’s market cap now hovers around $2.9 billion, weighed down by concerns around financial performance.
Your money and your life
Year-to-date, Aspen Pharmacare’s stock has slumped 27.66 percent. For retail investors, the impact is striking: a $100,000 investment made at the start of the year would now be worth just $72,340, representing a paper loss of $27,660.
Despite its global reach and scale, recent market sentiment signals a critical period for the company as it contends with headwinds in South Africa’s healthcare and pharmaceutical sectors.
