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

ASPEN PHARMACARE HOLDINGS LIMITED

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Aspen Pharmacare : South Africa's Aspen to pay 8 million pounds to NHS after UK probe

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08/14/2019 | 03:47am EDT
An Aspen Pharmacare logo is seen at outside company offices in Woodmead

(Reuters) - British authorities said on Wednesday South Africa's Aspen Pharmacare Holdings Ltd has agreed to pay the National Health Service (NHS) 8 million pounds to resolve concerns related to overpayment for a treatment.

The Competition and Markets Authority (CMA) said the settlement follows an investigation into arrangements Aspen made with rival pharmaceutical firms in 2016, to keep them out of the market for the supply of Fludrocortisone 0.1 mg tablets.

The prescription-only treatment is paid for by the NHS in the UK, and the state-run health service had to pay higher prices for it because of Aspen's arrangements, the CMA said.

Fludrocortisone is mainly used to treat Addison's disease, in which the body's adrenal glands fail to produce sufficient hormones.

Britain's competition regulator said Aspen could also have to pay an additional 2.1 million pounds in fines as part of a wider package, if the investigation concludes that the company broke the law.

The regulator said it was also looking at two other companies that were involved in dealings with Aspen.

In a separate statement on Wednesday, Aspen said it would dispose its right to ambient Fludrocortisone in the UK to an independent third party, and would reintroduce cold storage versions of the treatment into the country.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Shounak Dasgupta)

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Financials (ZAR)
Sales 2019 39 197 M
EBIT 2019 9 544 M
Net income 2019 7 815 M
Debt 2019 42 498 M
Yield 2019 4,11%
P/E ratio 2019 4,18x
P/E ratio 2020 4,98x
EV / Sales2019 1,92x
EV / Sales2020 1,71x
Capitalization 32 739 M
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Mean consensus BUY
Number of Analysts 9
Average target price 136,78  ZAR
Last Close Price 71,80  ZAR
Spread / Highest target 151%
Spread / Average Target 90,5%
Spread / Lowest Target 53,2%
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Managers
NameTitle
Stephen Bradley Saad Group Chief Executive Officer & Executive Director
Douglas Dlamini Chairman
Lorraine Hill Group Operating Officer
Sean Capazorio Group Finance Officer
Michael Guy Attridge Executive Director & Group Deputy CEO
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