Africa-Press – South-Africa. Aspen Pharma has reported a strong half-year performance, but its debt reduction slowed down.
In its results for six months ended 31 December 2021, the pharmaceutical giant said its revenue increased by 4% to R19.4 billion, compared to 2020. Meanwhile its earnings grew by 10% to R5.7 billion, and its headline earnings per share jumped by 37% to 777.2 cents.
Its manufacturing revenue delivered a standout performance, growing by 30% to R5.1 billion.
Aspen has been working on decreasing its debt after it had ballooned to a staggering R53 billion by 2018.
The company says its debt burden grew because of deferred payments for assets it sold in deals in 2020, as well as a weakened rand and a dividend paid to shareholders.
On Tuesday, the group announced a deal with Johnson & Johnson to manufacture and sell an Aspen-branded Covid-19 vaccine, Aspenovax, throughout Africa.
It also recently concluded a R1.8 billion agreement with Ancino Pharma AG, which will buy six of its products.
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