
Stephen Saad’s Aspen faces $148.7 million contract dispute
Aspen shares dive 30% amid $148.7 million mRNA tech dispute, stoking investor fears over financial stability.
Aspen shares dive 30% amid $148.7 million mRNA tech dispute, stoking investor fears over financial stability.
This follows a strong recovery in Aspen's share price on the Johannesburg Stock Exchange (JSE).
South African pharma tycoon Stephen Saad’s stake in Aspen Pharmacare drops to $434.35 million, losing $62.85 million in 15 days.
Attridge, co-founder and group chief advisor of Aspen Pharmacare, holds a 4.3-percent stake in the company.
This downturn follows a $44 million gain in January, which had lifted his stake to R10.26 billion ($550.1 million).
The growth was fueled by the successful integration of acquired products in Latin America.
With this latest transaction, PIC’s stake in Aspen is now worth nearly a billion dollars—R15.2 billion ($824.24 million).
With the recent rise in Aspen's stock price, the value of his holdings has crossed $550 million, marking a recovery after a challenging 2024.
This corresponds to a 5.24 percent drop in Aspen’s stock price on the Johannesburg Stock Exchange (JSE) in 9 days.
This downturn is driven by a sustained decline in the market value of his holdings in Aspen Pharmacare, Africa's largest pharmaceutical company.
This corresponds to an 18.12 percent drop in Aspen’s stock price on the Johannesburg Stock Exchange (JSE) since the start of the year.
South African pharma mogul Gus Attridge loses $16.5 million from stake in Africa’s largest pharmaceutical company.
South African pharmaceutical tycoon Stephen Saad faces setback as Aspen Pharmacare shares decline.
Attridge, who serves as the group’s chief advisor, holds a 4.3-percent stake in the Durban-based pharmaceutical giant, amounting to 19,033,829 shares.
Saad's wealth drops by nearly $160 million after Aspen Pharmacare's shares tumble 20.17 percent over the past 25 days on the JSE.