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Aspen Share Buybacks Follow Ovestin Sale

Aspen share buybacks total R2.43bn as the Ovestin sale releases capital. Explore the earnings outlook and concerns over losing a high-margin product.
Aspen Pharmacare branding illustrating Aspen share buybacks following the European Ovestin sale
Image | Timon Schneider | Dreamstime.com/223623035

Aspen share buybacks worth R2.43bn underline management’s confidence in the pharmaceutical group’s valuation, despite its shares gaining more than 40% this year.

The group repurchased shares on 2 and 3 November at an average of R162.01 each. Meanwhile, its €197m European Ovestin disposal released further capital. Aspen confirmed completion and receipt of the proceeds on 5 November.

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