South African Businessman Gus Attridge Sees Aspen Stake Drop By 9.3 Million
- Gus Attridge, co-founder of Aspen Pharmacare, faced a 9.28 million loss in just nine days as Aspen shares dropped 5.24.
- Attridges 4.3 stake declined from 177.09 million on Jan. 6 to 167.82 million due to falling stock prices.
- Aspens market cap fell below 4 billion, reflecting investor bearishness amid broader challenges in the pharmaceutical sector.
South African multimillionaire Gus Attridge, co-founder and chief advisor of Aspen Pharmacare Holdings, has faced a sharp decline in his stake in Africas largest pharmaceutical company, with losses amounting to 9.28 million in just nine days.
Attridge, who owns a 4.3 percent stake in the Durban-based pharmaceutical giant, has seen the market value of his 19,188,850 shares fall by R174.23 million 39.9.28 million. This decline corresponds to a 5.24 percent drop in Aspens stock price on the Johannesburg Stock Exchange JSE in just nine days.
This latest downturn compounds previous losses Attridge incurred in 2024 , during which his stakes value dropped from R3.9 billion 216.39 million to R3.2 billion 177.18 million, marking a decline of R707.49 million 39.2 million in the previous year alone.
Aspens strategic evolution amid market pressureFounded 25 years ago by Attridge and Stephen Saad, Aspen Pharmacare has transformed into a leading pharmaceutical powerhouse, boasting extensive manufacturing operations in South Africa, Germany, France, and the Netherlands. Through strategic acquisitions and organic expansion, Aspen has solidified its status in the global market, yet faces significant headwinds.
Its shares have tumbled by 5.24 percent in the past nine days, with the stock price slipping from R173.33 9.245 on Jan. 6 to R164.25 9.23 on Jan. 15. This pullback has driven Aspens market capitalization below the 4 billion mark, signaling bearish sentiment among investors.