Deals
Aspen CEO Defends Earnings Amid Post-Steinhoff Share Jitters
- Financials are ‘completely clear,’ South Africa drugmaker says
- Stock slumped as much as 10% on fears Viceroy compiling report
Stephen Saad
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
Aspen Pharmacare Holdings Ltd. Chief Executive Officer Stephen Saad said full-year earnings are “completely clear” and the South African drugmaker has nothing in common with scandal-hit retailer Steinhoff International Holdings NV.
Responding to a slump in the share price, the company said earlier Tuesday it was aware of speculation that Viceroy Research, a group of investors who published a report into Steinhoff’s accounts last month, is preparing a similar dossier on Aspen. The drugmaker has had no contact with Viceroy and “is not aware of any information of a price-sensitive nature that requires communication to shareholders,” the Durban-based company said in a statement.