Aspen Pharmacare Holdings, a branded pharmaceutical company, has returned impressive gains to South African billionaire and pharmaceutical tycoon Stephen Saad, as his stake in the leading company has increased by nearly $190 million since the start of the year.
Data gathered by Billionaires.Africa revealed that Saad’s stake in the pharma group has increased by R3.55 billion ($187.36 million) since Jan. 1 as investors on the local bourse continue to increase their stakes in the Durban-based pharmaceutical giant.
Aspen, a global specialty and branded pharmaceutical industry leader, has a strong presence in the pharmaceutical sector spanning more than two decades, improving the health of patients in over 115 countries.
Saad, who founded the leading group in 1997, owns a 12.5-percent stake in the branded pharmaceutical company. The stake, which is presently worth more than $590 million, makes him one of South Africa’s richest investors.
Since the start of the year, Aspen shares on the Johannesburg Stock Exchange have increased by 45.57 percent, climbing from R136.33 ($7.194) on Jan. 1 to R198.46 ($10.47) at the time of writing, thus leading to gains amounting to millions of dollars for its shareholders.
This upward trend has significantly boosted Aspen’s market capitalization to R88.57 billion ($4.67 billion), positioning the group as the 31st most valuable company on the Johannesburg Stock Exchange.
As a result of the double-digit percent increase in the group’s shares, the market value of Saad’s stake has increased by R3.55 billion ($187.36 million) since the start of the year, from R7.79 billion ($411.12 million) on Jan. 1 to R11.34 billion ($598.48 million) at the time of writing.
With this recent year-to-date surge in the market value of his stake, Saad remains one of the richest investors on the Johannesburg Stock Exchange, with his stake in the group now worth nearly $600 million thanks to the sustained increase in the group’s shares.
As part of the move to deepen its operation and strengthen its earnings, Aspen has announced plans to purchase a portfolio of drug products from the U.S.-based global pharmaceutical company Viatris in a deal valued at $280 million.Â
The portfolio included in the deal encompasses several products, such as Lipitor, Viagra, Lyrica, Zoloft, Norvasc, and Celebrex, along with their intellectual property rights, product registrations, marketing authorizations, and related inventory. These products collectively generated around $92 million in sales in 2022.
