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...
Sverige Senaste nytt, Sverige Rubriker
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