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Stephen Saad, the South African pharmaceutical tycoon and chief executive of Aspen Pharmacare, has seen the value of his stake in the company rebound above $340 million.
The recovery comes after Aspen shares gained ground on the Johannesburg Stock Exchange (JSE) in September, easing pressure on the pharma tycoon’s fortune.
Saad’s Aspen stake rebounds to $341 million
As CEO, Saad holds a 12.8 percent stake in Aspen, equal to 57,221,750 shares. Over the past 18 days, the market value of his holdings has risen by R187.69 million ($10.79 million), climbing from R5.74 billion ($330 million) to R5.93 billion ($340.76 million).
The uptick marks a notable reversal for Saad. Just weeks earlier, Aspen’s stock was under pressure, erasing $44 million from the value of his stake between late July and Aug. 21.
Huge gain after losses
Aspen, one of Africa’s leading pharmaceutical companies, operates in 115 countries and supplies both branded and generic medicines worldwide. Under Saad, the company has expanded into markets across Europe, Asia, and Latin America, steadily increasing its global presence.
Recently, Aspen’s share price rose 3.27 percent, climbing from R100.28 ($5.77) on Aug. 28 to R103.56 ($5.96), lifting the company’s market cap above $2.6 billion. The gain rewarded long-term investors and reflected growing confidence in the company’s performance.
Investors still in negative territory
Despite a recent rebound, Aspen Pharmacare remains among South Africa’s worst-performing stocks this year. Its share price has fallen 37.18 percent year-to-date, leaving investors with significant losses. A $100,000 stake purchased in January would now be worth about $62,820.
For Stephen Saad, whose wealth is heavily linked to Aspen, the price swings highlight the difficulties of running a global pharmaceutical company amid volatile markets.
