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South African businessman Gus Attridge has seen the market value of his stake in Aspen Pharmacare Holdings Ltd. climb back above the $100 million mark, as the drugmaker’s shares recover ground on the Johannesburg Stock Exchange (JSE).
Attridge, who co-founded Aspen with Stephen Saad, holds a 4.3 percent stake in the drugmaker. Gains across 8 consecutive trading sessions have increased the value of his holding by R94.03 million ($5.62 million), partly offsetting losses incurred during a weaker period earlier this year.
Share recovery offers relief after $10.7 million losses
The recent gains follow a sharp pullback between Oct. 28 and Nov. 18, when Aspen’s stock weakened and wiped roughly $10.7 million off the value of Attridge’s stake. During that period, his holding slid from about R1.98 billion ($114.86 million) to R1.8 billion ($104.17 million), reflecting broader investor caution toward pharmaceutical stocks.
Since early December, however, sentiment has improved. Aspen shares have risen 5.04 percent since Dec. 10, climbing from R91 to R95.90. The move lifted the company’s market cap to $2.5 billion and pushed the value of Attridge’s stake to roughly R1.84 billion ($109.74 million), up from around R1.75 billion ($104.13 million) at the start of the month.
Aspen leads Africa’s pharmaceutical expansion
Founded 25 years ago, Aspen has expanded from a South African business into Africa’s largest drug manufacturer. The company operates production facilities in Germany, France, and the Netherlands and supplies branded and generic medicines to markets worldwide.
Aspen has grown through acquisitions and a diverse product portfolio, enabling it to serve both emerging and developed markets. Its scale has attracted investors despite challenges from pricing pressures, currency fluctuations, and shifting demand. It continues to leverage its global footprint to maintain market presence and support growth across multiple regions.
Aspen’s shares are down
Aspen’s shares have fallen 41.83 percent since January. A $100,000 investment at the start of the year would now be worth about $58,170, reflecting the scale of the selloff and ongoing pressure on the company’s stock performance.
