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Aspen Pharmacare
Aspen Pharmacare (APN) investor relations material
Aspen Pharmacare Status update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Status update summary15 Jan, 2026
Transaction overview and rationale
Binding agreements signed to divest 100% of APAC entities and related IP (excluding China) for AUD 2,370 million (ZAR 26.5 billion), with no deferrals or earnouts, at an EV/EBITDA multiple of approximately 11x for FY2025.
Sale includes entities and assets in Australia, New Zealand, Hong Kong, Malaysia, Taiwan, and the Philippines; net proceeds expected to exceed ZAR 25 billion after costs.
Proceeds will primarily be used to reduce debt, optimise capital structure, and enhance balance sheet flexibility.
Transaction completion targeted for end of May 2026, subject to shareholder approval and regulatory clearances.
Purchaser is BGH Capital Pty Ltd, an Australian private equity firm; transaction initiated following an unsolicited offer.
Financial impact and business mix
APAC contributed 18% of group revenue (ZAR 7.8 billion) and 26% of EBITDA (ZAR 2,445 million) for FY2025.
Dilution from the sale is mainly due to the Australian business; group EBITDA margin will see some impact, but post-deal group GP margin should improve.
Net proceeds will materially lower financing costs, with interest savings expected to exceed ZAR 1 billion.
No material change in tax rate anticipated; focus remains on deleveraging.
Day-to-day operations and employment in APAC are intended to continue as normal during the transition.
Strategic focus and growth drivers
Divestment aligns with strategy to unlock value from sum-of-the-parts, as APAC achieved much of its potential.
Future growth to be driven by commercial pharma (notably GLP-1s), reshaped sterile manufacturing, and free cash flow generation.
GLP-1 portfolio (including semaglutide and Mounjaro) expected to be a major growth driver from 2026, with a focus on emerging markets and Canada.
Manufacturing reshaping is over 90% complete, with progress in insulin and vaccine contracts; targeting EBITDA break-even for sterile manufacturing by FY2027.
Plans to restore loss-making facilities in South Africa and France to profitability by FY2027 and commercialise new contracts.
Semaglutide competitive position in Canada
Detail the ZAR 2bn manufacturing turnaround
Capital allocation with net cash position
Partial view of Summaries dataset, powered by Quartr API
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Next Aspen Pharmacare earnings date
H1 20263 Mar, 2026
Aspen Pharmacare
Next Aspen Pharmacare earnings date
H1 20263 Mar, 2026
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Frequently asked questions
Aspen Pharmacare Holdings Limited (Aspen) is a global pharmaceutical company headquartered in Durban, South Africa. Established in 1997, Aspen has grown to become a leading provider of generic and specialty pharmaceuticals, focusing on a range of therapeutic categories including thrombosis, anaesthetics, and high potency and cytotoxic treatments. The company's product portfolio encompasses a variety of dosage forms such as oral solid dose, semi-solids, liquids, steriles, biologicals, personal care products, and active pharmaceutical ingredients (APIs). Aspen's shares are listed on the Johannesburg Stock Exchange (JSE).
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