BUSINESS: Aspens shares Jump 83% since August

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Aspen Pharmacare shares have jumped 83% since August, according to a report by The Star.

Aspen was trading at R120 a share on the JSE on 20 January 2020, up from R65 on August 20, 2019. This makes Aspen the best performing stock among its peers Adcock Ingram (-7.82%) and Ascendis Health (-73.54%).

The recovery comes after the share tumbled 50% in 2018 after Aspen moved away from a generic business model.

Aspen has managed to reduce its debt from R59 Billion to R39 Billion in 2019 after selling Its Nutritionals Business.

Last year, Aspen ‘s Chief Executive, Gus Attridge, said Aspen was focused on building its anesthetic business.