Aspen feels effects as Covid-19 vaccine contract ends, but it's upbeat on prospect of new contracts | Business

SA's biggest pharmaceutical manufacturer Aspen Pharmacare has reported a double-digit profit for its first half amid the loss of Covid-19 vaccine revenue, but it remains upbeat, in part due to possible new contracts that would significantly fill capacity at its pricey sterile facilities.

Headline earnings fell 17% to R2.9 billion in the six months to end-December, it said on Wednesday, while revenue fell 6% in constant-currency terms, with the company hit by inflationary pressures, Covid-19 lockdowns in China, as well as the winding up of its vaccine contract with Johnson & Johnson. However, the company is expecting a better second half, saying on Wednesday it had made"significant advances" in contract negotiations for a portion of capacity at its sterile manufacturing facilities, giving it confidence to revise the long-term potential contribution from these to R8 billion, from R3 billion.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month.

We need more codaine Aspen.

Pharma companies are the same as arms dealers. Profiting from other people's misery...

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