Aspen Pharmacare Holdings Limited has delivered a solid performance with a good set of quarterly results overall in a challenging inflationary environment, which shareholders have heartily welcomed as the share price was up +753,00 on Wednesday shortly after the announcement, reaching 6.11% in late afternoon trade.
But the African region still lags behind other regions of the world in access to vaccines, with the WHO saying about one in five African children do not receive all the necessary and basic vaccines, causing more than 30 million children under the age of five to suffer from vaccine-preventable diseases every year in Africa. Of these,Gross profit increased 3% to R16.
In a statement, Stephen Saad, Aspen Group CEO, said, “The group has achieved a robust set of results for the year ended 30 June 2022, supported by improved operating margins underpinned by a lower operating expense base and a strong balance sheet, all of which provide a solid foundation for future sustainable growth.”
“With the African Union calling for 30% offtake from African-based manufacturers, it enables Serum to retain the API benefit and for Aspen to obviously provide the finished vaccine product to the patients.” “The vaccines, made in Africa to Africa, give them the comfort of mind that there is a facility on the continent that can get ready for pandemic preparedness.”
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