Unpacking: Aspen

Aspen Pharmacare Holdings – previously Aspen Pharmaceuticals – recently hit a 9 year low. On 14 August they were fined by the UK authorities relating to anti-competitive behavior that was first uncovered on 13 October 2017. While the fine was relatively small in the context of Aspen, around  R200 million in total penalties compared to their market cap at the time of roughly R33 billion, there were other conditions imposed and external factors which caused the market to react rather strongly to the news, sending the share price down 10.3% at one point during the day. Continue reading “Unpacking: Aspen”