By Nqobile Dludla
JOHANNESBURG, Sept 2 (Reuters) – South Africa’s Aspen Pharmacare reported a 22% rise in annual normalised earnings on Wednesday, helped by strong demand for obesity and diabetes treatment Mounjaro, which it distributes, and improving profitability in its manufacturing business.
The drugmaker said normalised headline earnings per share (NHEPS) from continuing operations rose to 801.5 cents in the year ended June 30 from 659.2 cents in the previous year. On a constant currency basis, NHEPS rose 28%.
Group normalised core earnings rose 14% to 7.7 billion rand ($478.25 million), driven by operating efficiencies in its reshaped China business and productivity improvements at its manufacturing facilities in France and South Africa.
Revenue was flat at 34.9 billion rand, as growth in its commercial pharmaceuticals business offset weaker manufacturing sales.
Commercial Pharmaceuticals, Aspen’s biggest unit, posted revenue growth of 5% to 25.4 billion rand, on strong demand for Eli Lilly’s Mounjaro in South Africa.
Manufacturing revenue fell 10% to 9.5 billion rand, following the expiry of a prior-year mRNA contract. However, EBITDA climbed 21% to 828 million rand, more than offsetting the roughly 1 billion rand contribution from the mRNA contract in fiscal 2025, as the initial benefits of a restructuring of Aspen’s sterile finished-dose facilities in France and South Africa began to materialise.
($1 = 16.1002 rand)
(Reporting by Nqobile Dludla, Editing by Louise Heavens, Kirsten Donovan)
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