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...

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Lights Out | Load shedding worse than Covid-19 pandemic – business owner | City PressSmall businesses, which contribute significantly to the economy, are buckling under continued rolling blackouts. Banyise wena president Cyril Ramaphosa abakwazi kahle. Best trader. I have invested with ever. your platform is the best providing good profits keep the good work up marksuster02 Abanye Nyi it's new dawn....20 March it's freedom for them it's in they hands
Fonte: City_Press - 🏆 7. / 72 Consulte Mais informação »