
Stephen Saad’s wealth takes a hit as Aspen Pharmacare stock plunges, erasing $41 million
This downturn follows a $44 million gain in January, which had lifted his stake to R10.26 billion ($550.1 million).
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 downturn is driven by a sustained decline in the market value of his holdings in Aspen Pharmacare, Africa's largest pharmaceutical company.
South African pharmaceutical tycoon Stephen Saad faces setback as Aspen Pharmacare shares decline.
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.
This follows a gain of $32.2 million recorded between April 23 and May 1, when his stake increased from $654.18 million to $686.41 million.
This increase underscores Saad’s significant influence in South Africa’s business landscape, elevating him among the top investors on the JSE.
This rise in Saad’s stake underscores his pivotal role in South Africa’s business landscape, placing him among the top investors on the JSE.
Aspen anticipates a robust second half of 2024, supported by the launch of sterile manufacturing contracts and continued growth in its active pharmaceutical ingredients (API) business.
This increase cements Saad’s position in the South African business scene, placing him among the leading investors on the JSE.