Table of Contents
Key Points
- Gus Attridge’s Aspen Pharmacare stake fell $12.66 million in 11 days as shares slid 9.45% on the Johannesburg Stock Exchange.
- Aspen’s market capitalization has dropped below $3 billion, with shares down 31.95% since January amid weaker demand and regulatory challenges.
- Market value drops below $3 billion; a $100,000 January investment in Aspen is now worth $68,050, a loss of $31,950.
South African pharmaceutical magnate Gus Attridge has seen the value of his fortune shrink once again, with his stake in Aspen Pharmacare—Africa’s largest drug manufacturer—declining by more than $12 million amid a recent sell-off on the Johannesburg Stock Exchange (JSE).
Attridge, Aspen’s group chief advisor and one of South Africa’s wealthiest investors, holds a 4.3-percent stake in the drugmaker, amounting to 19,188,850 shares. As of the latest trading session, his stake is valued at R2.15 billion ($121.66 million), down from R2.38 billion ($133.96 million) on July 29 — a paper loss of R224.70 million ($12.66 million).
Stock performance hits investor confidence
Founded 25 years ago by Attridge and Stephen Saad, Aspen has grown into a global pharmaceutical powerhouse with manufacturing hubs in South Africa, Germany, France, and the Netherlands. Through a mix of high-profile acquisitions and organic growth, Aspen has secured a leading position in the generic medicines market, supplying more than 150 countries.
In the past 11 days, Aspen shares have plunged 9.45 percent, sliding from R123.89 ($6.98) to R112.18 ($6.32). This drop has pushed the company’s market capitalization below $3 billion, intensifying investor concerns about the drugmaker’s near-term growth prospects.
Your money and your life
Aspen has been among the hardest-hit companies on the JSE this year. Since January, its share price has fallen 31.95 percent. That means a $100,000 investment at the start of 2025 would now be worth just $68,050, a drop of $31,950.
The decline reflects more than just market jitters. Weaker demand in some regions, currency swings, tough regulatory hurdles, and stiff competition in key markets have all added pressure. These challenges have led many investors to re-estimate the company’s intrinsic value.
What you should know
With Aspen’s share price at its lowest in years, the company faces the task of protecting its profit margins, launching new products, and winning back investor confidence.
For co-founder Gus Attridge and other shareholders, the slump has been costly. Attridge has seen about $12 million erased from the value of his stake, a stark reminder of how quickly fortunes can change in the market.
