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        MarketScreener Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Aspen Pharmacare Holdings Limited    APNJ   ZAE000066692

        ASPEN PHARMACARE HOLDINGS LIMITED

        (APNJ)
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        Aspen Pharmacare : Novartis buys Aspen's Japanese generic unit for up to 400 million euros

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        11/11/2019 | 02:42am EST
        Logo of Swiss drugmaker Novartis is seen at its branch in Schweizerhalle near Basel

        Novartis is buying the Japanese generics unit of South Africa's Aspen Pharmacare in a deal worth up to 400 million euros (344.5 million pounds) to expand in the world's third-biggest drug market, the Swiss drugmaker said on Monday.

        Novartis's Sandoz generics business agreed to pay 300 million euros initially, plus a deferred amount not expected to exceed 100 million euros based on certain conditions being met, Novartis said. Completion of the transaction is expected in the first half of 2020.

        Aspen Pharmacare has abandoned its dividend this year and is selling assets to pay down debt after levels moved close to breaching debt covenants.

        Novartis's Sandoz is adding Aspen's Japan business in part to boost access to hospitals there. The South African's portfolio consists of 20 off-patent medicines with annual sales of 130 million euros, including anaesthetics like Xylocaine as well as speciality brands such as the immune suppressing drug Imuran used by some multiple sclerosis patients.

        "The acquisition of Aspen's Japanese operations would significantly strengthen our position in this country, a stable but growing generics market," Sandoz Chief Executive Richard Saynor said in a statement.

        Sandoz is in the midst of a reorganisation within Novartis, as Chief Executive Vas Narasimhan sells U.S. generic pills and dermatology assets that had come under price pressure while simultaneously boosting the autonomy of the remaining businesses in a move he said will help them better compete.

        (Reporting by John Miller; editing by Thomas Seythal)

        Stocks mentioned in the article
        ChangeLast1st jan.
        ASPEN PHARMACARE HOLDINGS LIMITED 3.98% 117.7 End-of-day quote.-11.89%
        NOVARTIS 0.40% 88.46 Delayed Quote.17.78%
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        Latest news on ASPEN PHARMACARE HOLDINGS
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        Financials (ZAR)
        Sales 2020 39 967 M
        EBIT 2020 9 461 M
        Net income 2020 6 237 M
        Debt 2020 36 613 M
        Yield 2020 -
        P/E ratio 2020 8,18x
        P/E ratio 2021 7,27x
        EV / Sales2020 2,17x
        EV / Sales2021 1,97x
        Capitalization 49 969 M
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        Technical analysis trends ASPEN PHARMACARE HOLDINGS
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        TrendsBullishBullishNeutral
        Income Statement Evolution
        Consensus
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        Mean consensus BUY
        Number of Analysts 9
        Average target price 132,22  ZAR
        Last Close Price 109,63  ZAR
        Spread / Highest target 55,1%
        Spread / Average Target 20,6%
        Spread / Lowest Target -8,78%
        EPS Revisions
        Managers
        NameTitle
        Stephen Bradley Saad Group Chief Executive Officer & Executive Director
        Douglas Dlamini Chairman
        Lorraine Angela Hill Group Operating Officer
        Sean Matthew Capazorio Group Finance Officer
        Michael Guy Attridge Executive Director & Group Deputy CEO
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