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Aspen is in a closed period from 1st January 2026 until the publication of the interim results on the JSE SENS platform on the 3rd March 2026.

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SED Initiatives

Aspen announces additional pharmaceutical donations for Ukranian patients

  Johannesburg, South Africa – Aspen Pharmacare, Africa’s largest pharmaceutical company, has announced continued humanitarian support to Ukraine, confirming further donations of critical care products to treat hospitalized patients who have been impacted by the ongoing conflict in that country.   Stavros Nicolaou, Aspen Group Senior Executive Strategic Trade, said, “Aspen is highly sensitised to the human suffering that war and conflict brings and which has had a devastating impact on innocent civilians. We are pleased to announce that we are further extending our support to Ukrainian victims of the present-day conflict with much needed pharmaceutical products and we are in the process of despatching additional supplies of Fraxiparine (for emergency surgeries) and Alkeran (for cancer) to treat patients in Ukrainian hospitals. We remain committed to providing ongoing humanitarian relief to victims of both natural and manmade disasters as may be necessary.”   Aspen recently hosted His Excellency, former President of the Ukraine, Viktor Yushchenko during an official visit to South Africa. On this occasion he said, “I am deeply grateful to Aspen for the invaluable humanitarian support provided to the people of Ukraine at this very tragic time. Aspen has helped countless Ukrainians with generous donations of life-saving critical care medicines. Aspen’s ongoing support reaffirms their understanding of the horrors of war, and demonstrates their unwavering care for innocent patients who are in desperate need of pharmaceutical products. I thank Aspen for their contributions to date as well as their commitment to  providing more products to treat our patients.”    One of the more important initiatives in this humanitarian collaboration with Her Excellency Ambassador and Plenipotentiary of Ukraine to South Africa, Liubov Abravoitova, concerns donations of Alkeran primarily used for the treatment of paediatric cancer patients at the Odessa Filatov Institute of Ophthalmology. She said, “We thank Aspen for its solidarity with Ukrainian people and support to Ukraine with donations of life-saving medicines, as well as for its cooperation with the Embassy of Ukraine in South African in humanitarian projects.” Aspen’s latest Alkeran donation has been expedited specifically to assist in the treatment of a six year old patient who is at risk of losing her only eye.   In March 2022 Aspen dontated life-saving medicines for 62 000 surgeries in Ukraine and also helped to evacuate South African medical students who were stranded in war-torn Ukraine.

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Financial

Aspen building momentum with revenue up 10% to R21,1 billion

Johannesburg – JSE-listed Aspen Pharmacare Holdings Limited (APN), a global multinational specialty pharmaceutical company, has reported solid unaudited interim Group financial results for the six months ended 31 December 2023. SALIENT HIGHLIGHTS Revenue increased by 10% (2% in constant exchange rate (“CER”)) to R21,1 billion (December 2022: R19,2 billion) Normalised EBITDA increased by 2% (-5% in CER) to R5,2 billion (December 2022: R5,1 billion) Normalised headline earnings per share increased by 1% (-5% in CER) to 688,3 cents (December 2022: 679,6 cents) Headline earnings per share decreased by 6% (-12% in CER) to 620,7 cents (December 2022: 660,6 cents) Earnings per share decreased by 13% (-18% in CER) to 520,8 cents (December 2022: 602,0 cents) Operating cash flow per share increased by 44% to 553,2 cents (December 2022: 384,3 cents) Stephen Saad, Aspen Group Chief Executive said, “Great progress has been made in delivering on our ambitious strategy to lay the foundation for strong growth. We have successfully completed the necessary steps to reach the commercialisation stage for the manufacture of mRNA platform products which will augment revenue in H2 2024. Notable financial highlights include a 10% increase in revenue and a 44% increase in operating cash flow per share. The transition to new toll manufacturing agreements for the Heparin business is expected to reduce inventory investment by R3 billion by the end of the financial year. Organic growth complemented by acquisitions is set to drive Commercial Pharmaceuticals’ revenue in H2 2024 up by some R1 billion over H2 2023. We are also pleased to report that our recently announced acquisition of products in China, which remain subject to Competition Authority approval, will mitigate the negative volume-based procurement impact from FY2025.” Noteworthy achievements in this half include, inter alia, the following: Sterile manufacturing contract for mRNA filling reaches commercialisation stage Successful completion of the required trial and validation batches has resulted in the fulfillment of the suspensive conditions to the previously disclosed agreement for the manufacture of mRNA platform products. The commercialisation of this opportunity will benefit revenue and contribution in the last quarter of H2 2024. The impact of the volume ramp up and its annualisation will be materially higher from FY2025 onwards. Heparin business transitions to a toll manufacturing model Manufacturing agreements for the supply of heparin-based syringes are transitioning to a toll contract manufacturing arrangement. The heparin active pharmaceutical ingredient (“API”) will now be owned by the customers. This will reduce Aspen’s investment in heparin inventory and increase operating cash flows in both FY2024 and FY2025. In H1 2024, Aspen’s investment in heparin inventory reduced by R1 billion with a further R2 billion reduction anticipated by the end of June 2024. China volume-based procurement (“VBP”) mitigation strategy well on track Aspen announced that it had concluded agreements with Sandoz AG (“Sandoz”), including acquiring the Sandoz business in China. The net upfront consideration is EUR27.9 million followed by potential net milestone payments of EUR9.2 million. Approval for the transaction from the Competition Authority in China is anticipated in May 2024. The transaction will materially mitigate the negative impact of VBP on Aspen’s existing business in China on an annualised basis from FY2025. Commercial Pharmaceuticals portfolio enhancement strategy set to drive strong growth in H2 2024 revenue H2 2024 will be boosted by the distribution and promotion agreement with Lilly for sub–Saharan Africa and the product purchase agreement with Viatris for Latin America. The agreement with Lilly is effective from January 2024. Subsequent years will benefit from the launch of key pipeline products including Lilly’s Tirzepatide, marketed globally as Mounjaro®. Viagra, Lipitor, Norvasc, Lyrica and Celebrex are key brands included in the product portfolio acquired for Latin America. GROUP HIGHLIGHTS /*! elementor – v3.15.0 – 20-08-2023 */ .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=”.svg”]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block} 1The Group assesses its operational performance using constant exchange rate (“CER”). The table above compares performance to the prior comparable period at reported exchange rates and at CER. 2 The CER % change is based upon the performance for the six months ended 31 December 2022 recalculated using the average exchange rates for six months ended 31 December 2023. 3Operating profit before depreciation and amortisation adjusted for specific non-trading items as defined in the Group’s accounting policy. 4 Normalised headline earnings per share (“NHEPS”) represents headlines earnings per share (“HEPS”) adjusted for specific non-trading items as defined in the Group’s accounting policy. GROUP PERFORMANCE The Group has exceeded its guided performance growing normalised EBITDA ahead of H1 2023 and overcoming the negative impact of VBP in China as well as the loss of grant funding which benefitted the prior period. Group revenue for the six months ended 31 December 2023 grew 10% (2% CER) to R21 141 million, with Commercial Pharmaceuticals revenue up 3% (-3% CER) and Manufacturing revenue increasing by 33% (17% CER). Group gross profit grew 4% (-3% CER) muted by an increased Manufacturing sales mix. Normalised EBITDA rose 2% (-5% CER) to R5 194 million. Elevated transaction costs primarily relating to acquisitions, together with increased intangible asset impairments due to the VBP impact in China, resulted in operating profit declining. Normalised net financing costs of R566 million were 3% (-10% CER) lower than the prior year. Increased net interest costs, fueled by higher rates, were more than offset by lower foreign exchange losses resulting from reduced volatility in emerging market currencies relative to the Euro. NHEPS advanced 1% (-5% CER) aided by the lower net financing costs. Financing costs in H2 2024 will continue to be influenced by the interest rate cycle and emerging market foreign currency volatility. HEPS declined by 6% (-12% CER) and earnings per share ended 13% lower (-18% CER) affected by the higher transaction costs and intangible asset impairments respectively. SEGMENTAL PERFORMANCE Commercial Pharmaceuticals Aspen has revised and refined its reportable segments to align to the Group’s Commercial Pharmaceuticals growth strategy. The new segments comprise Prescription, Over-the-counter (“OTC”) and Injectables which have been defined in the basis of accounting section of the financial results. Commercial Pharmaceuticals revenue grew by 3%

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Transactions

Aspen concludes two significant agreements with Sandoz for China and Europe

Durban, South Africa – JSE-listed Aspen Pharmacare Holdings Limited, a global multinational specialty pharmaceutical company, has announced that Aspen Global Incorporated (“AGI”), its wholly owned subsidiary incorporated in Mauritius, has concluded two interdependent agreements with Sandoz AG (“Sandoz”) concerning the acquisition of Sandoz’s Chinese business and the disposal to Sandoz of four anaesthetic products in Europe. The terms of the agreements provide for AGI to: Stephen Saad, Aspen Group Chief Executive, said, “The acquisition represents an attractive opportunity for Aspen to take a major step in our stated strategic objective of increasing our presence in China. Sandoz’s product portfolio, pipeline, well-established infrastructure, and experienced team, will expand Aspen’s footprint and capabilities in the world’s second largest pharmaceutical market, and further strengthen our foundation for future growth in China.” The Acquisition provides the opportunity to add approximately ZAR 1.8 billion of annual sales to the Aspen Group, while the sales of the Anaesthetic Products during our financial year ended 30 June 2023 were approximately ZAR 280 million.  As consideration for the Acquisition, AGI is paying up to EUR 92.6 million, with EUR 18.5 million contingent upon the sales performance of the Pipeline Products.  For the Disposal, AGI will receive a consideration of up to EUR 55.5 million, with EUR 9.3 million contingent on the sales performance of the Anaesthetic Products.  AGI will fund the net upfront cash consideration from existing debt facilities.    

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Transactions

Aspen announces contract manufacturing agreement to initiate local production of Human Insulin for Novo Nordisk at its Gqeberha based sterile manufacturing facility

Aspen announces contract manufacturing agreement to initiate local production of Human Insulin for Novo Nordisk at its Gqeberha based sterile manufacturing facility Durban, South Africa – Aspen is pleased to announce further details on one of the contract manufacturing agreements mentioned in its recent announcement of financial results for the year ended 30 June 2023 and related investor presentation. Aspen Pharmacare Holdings Limited and its wholly-owned South African subsidiary, Aspen SA Operations (Pty) Ltd have concluded an agreement with the leading global manufacturer of human insulin, Novo Nordisk A/S (“Novo Nordisk”), for the technical transfer and commercial manufacture of Human Insulins. The collaboration allows for local production of Human Insulin in South Africa, to cater to the needs of people with diabetes on the African continent. Through the local conversion of the insulin into finished dose form vials by Aspen, the companies will leverage opportunities together, to ensure a reliable supply of products to populations that need it. The collaboration aims to supply over 1 million patients (16 million vials) in 2024 with further upscaling to over 4 million patients in 2026. Aspen will manufacture these vials at its existing sterile facility in Gqeberha, South Africa. The Group invested R6 billion in building these facilities and related technologies. The production of insulin will utilize the sterile infrastructure including some utilized for COVID-19 vaccine production. Aspen will deploy approximately 250 people for this production which is due to commence at the beginning of 2024. The collaboration will also reduce the transport related carbon footprint by 68%. Stephen Saad, Aspen Group Chief Executive said, “Aspen has a clear objective and focus to capacitate Africa and give quality affordable access to critical medicines from sites based in Africa that are also capable of exporting to global markets. We are proud to be associated and working with Novo Nordisk, a global leader in many areas including diabetic insulins. We hope to build off this initial foundation with Novo Nordisk to further expand access. In addition, this development is important to retaining critical skills and developing new talent on the continent and to diversifying global supply chains to ensure security of supply and improved patient access. To this end, the technical and skills transfer agreement is key and an endorsement of Africa’s role in the regional and global pharmaceutical supply chain. We thank Novo Nordisk for this demonstration of their confidence in Aspen, together we can positively impact the millions of patients most in need.”

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Financial

Aspen revenue exceeds R40 billion with accelerated medium-term growth anticipated

Johannesburg – JSE-listed Aspen Pharmacare Holdings Limited (APN), a global multinational specialty pharmaceutical company, has reported a strong performance for the year ended 30 June 2023. SALIENT HIGHLIGHTS Revenue grew by 5% (-3% in constant exchange rate (“CER”)) to R40 709 million (FY2022: R38 606) Normalised EBITDA rose by 1% (-6% in CER) to R11 100 million (FY2022: R11 012 million) Normalised headline earnings per share declined by -8% (-15% in CER) to 1 498,5 cents (FY2022: 1 627,6 cents) Headline earnings per share decreased by -4% (-11% in CER) to 1 405,4 cents (FY2022: 1 461,2 cents) Earnings per share decreased by -18% (-23% in CER) to 1 176,9 cents (FY2022: 1 432,3 cents) Dividend declared to shareholders increased by 5% to 342 cents per ordinary share (FY2022: 326,0 cents) Aspen has concluded three sterile manufacturing agreements at is French manufacturing facility and progressed a further agreement at the Gqeberha facility to an advanced technical stage subtantially progressing its medium-term strategy to fill its sterile manufacturing capacity An agreement was concluded with Eli Lilly and Company (“Lilly”) to distribute and promote products in Sub-Saharan Africa, subject to conditions precedent and competition authority approvals Aspen celebrates 25 years as a JSE-listed pharmaceutical company Stephen Saad, Aspen Group Chief Executive said, “We are pleased to announce solid results for the year with record revenue and normalised EBITDA delivered in H2 2023. Pleasing reported revenue growth was achieved by Commercial Pharmaceuticals and Manufacturing of 6%  and 3%  respectively, despite the volatile global trading environment.” “We have achieved outstanding progress in our endeavours to secure addition manufacturing volumes for our newly installed expanded sterile production capacities. We are tracking well to achieve our  previous guidance of related contributions of R2 billion in calendar year 2024, increasing to R4 billion in calendar year 2025.” “These new long-term collaborative opportunities in Manufacturing, together with the Serum agreement, concluded in 2022, will provide substantial support to our medium-term strategy to fill our sterile manufacturing capacity. This in turn presents a potential annual contribution of at least R8 billion per annum.” “In addition, the product distribution agreement announced with Lilly ealier today, together with the recent Amgen and Viatris announcements, will provide growth momentum in our Commercial Pharmaceuticals segment. “ “We continue to actively explore additional contract manufacturing opportunities as well as further product portfolio enhancements to further drive growth into the future.” STERILE MANUFACTURING AGREEMENTS SECURED Aspen is pleased to announce that it has now secured three sterile manufacturing agreements with multinational pharma companies for production at its French manufacturing facility. These new long-term opportunitiestogether with the Serum agreement , concluded in 2022, will materially contribute to the foundation of Aspen’s medium-term strategy to fill its sterile manufacturing capacity. Additional agreements are under negotiation including one agreement for the Gqeberha facility already progressed to an advanced technical transfer stage. COMMERCIAL PHARMACEUTICALS MAKES ADVANCES IN ITS PORTFOLIO ENHANCEMENT STRATEGY Aspen has concluded an agreement with Eli Lilly Export S.A. a subsidiary of Eli Lilly and Company (“Lilly”), in terms of which Aspen will distribute and promote Lilly’s products in Sub-Saharan Africa for an initial term of 10 years, automatically renewable for two further periods of 5 years (“the Transaction”). The sales revenue of the Lilly portfolio in Sub-Saharan Africa was approximately ZAR 440 million[1] in 2022. This is expected to be materially increased by the launch of key Lilly pipeline products in the short to medium term. The pipeline includes Lilly’s Tirzepatide, marketed globally as Mounjaro®, a molecule currently under evaluation by SAPHRA and expected to be launched in South Africa in the near future. The Transaction is conditional upon the fulfilment of customary conditions precedent applicable to transactions of this nature, including competition authority approvals.  It is anticipated that the Transaction will complete by the end of Q1 of calendar 2024. The recently announced agreement for the acquisition of a portfolio of products from Viatris is an exciting and significant step forward in building on and expanding our footprint in Latin America. The annualised revenue for the product portfolio is USD92 million and includes well-known brands such as Viagra, Lipitor, Zyloft, Norvasc, Lyrica, and Celebrex. This transaction will enable Latin America to become a greater contributor to Regional Brands going forward. These transactions, together with the recently announced transaction securing distribution rights for Amgen products in Southern Africa, will enhance the Commercial Pharmaceuticals product portfolio in emerging markets and aligns with the previous guidance of adding incremental annualised revenue upwards of USD100 million in Latin America and South Africa. GROUP FINANCIAL RESULTS HIGHLIGHTS 1 Per IQVIA data 1 The Group assesses its operational performance using constant exchange rate (“CER”) and all segmental performance-related commentary is made with reference to the underlying CER trends. The table above compares performance to the prior comparable period at reported exchange rates and at CER. 2 The CER % change is based upon the performance for year ended 30 June 2022 recalculated using the average exchange rates for year ended ended 30 June 2023. 3 Operating profit before depreciation and amortisation adjusted for specific non-trading items as defined in the Group’s accounting policy. 4 Normalised headline earnings per share (“NHEPS”) represents headlines earnings per share (“HEPS”) adjusted for specific non-trading items as defined in the Group’s accounting policy. 5 Dividend declared on 29 August 2023, and paid 26 September 2023 (2022: Declared on 31 August 2022 and paid 26 September 2022). GROUP PERFORMANCE The Group achieved the guided recovery from H1 with H2 2023, delivering record revenue and normalised EBITDA. Factors which negatively impacted the first half performance relative to the prior comparative period included the Russia-Ukraine war, inflationary pressures, COVID lockdowns and volume-based procurement (“VBP”) impacts in China, the loss of COVID vaccine revenue as well as investing in non-revenue generating technical transfer activities relating to the onboarding of new sterile manufacturing opportunities. Group revenue for the financial year ended 30 June 2023 grew 5% (-3% CER) to R40 709 million, with Commercial Pharmaceuticals revenue growing 6% (-1% CER) and Manufacturing revenue increasing by 3%

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Transactions

Aspen and Lilly enter into agreement in South Africa and the rest of Sub-Saharan Africa

Subject to approval from relevant Competition Authorities, Lilly will enter a strategic agreement with Aspen to continue serving patients and bring innovative therapies to South Africa and the rest of Sub-Saharan Africa. Johannesburg – In an effort to improve the reach and expand the access of its innovative portfolio of medicines to the patients who need them in South Africa and the rest of Sub-Saharan Africa (SASSA), Eli Lilly Export S.A. (NYSE: LLY) (“Lilly”) will enter into a distribution and promotion agreement with Aspen Pharmacare and Beta Healthcare, both subsidiaries of Aspen Pharmacare Holdings Limited (JSE: APN) (“Aspen”), subject to approval by the relevant Competition Authorities. Through this agreement, Aspen will hold the rights to sell, promote and distribute Lilly’s pharmaceutical portfolio in SASSA. Stephen Saad, Aspen Group Chief Executive, said, “Aspen has enjoyed a long-standing relationship with Lilly over two decades, and we are delighted to enter into this agreement with them. We are honored that, not only have our commercial and regulatory capabilities been recognized, but also our dedication to ensuring broad access to African patients in need of cutting-edge medication. Lilly has an impressive portfolio coupled with a very strong pipeline, both of which strongly support this objective. We have confidence in our team’s ability to deliver to all stakeholders on the opportunity presented.” Cesar Buendia, General Manager for Lilly SASSA said, “Lilly has proudly served patients and healthcare professionals through innovative, high-quality medicines in diverse therapeutic areas in South Africa and the rest of Sub-Saharan Africa. The agreement with Aspen offers remarkable potential to reach more patients and expand access to Lilly’s medicines. Lilly remains committed to delivering our breakthrough innovations to patients in South Africa and Sub-Saharan Africa, and we will continue to pursue initiatives as part of Lilly’s 30×30 program, which aims to improve access to quality healthcare for 30 million people living in limited-resource settings, annually, by 2030.” Until approval is received from the competition authorities, Lilly will continue to operate as per its existing business model for all its products.

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SED Initiatives

Aspen hosts Mandela Day for 13th consecutive year, having reached 865 000 beneficiaries

Durban – JSE Limited listed Aspen Pharmacare Holdings Limited (“Aspen”), a global specialty and branded pharmaceutical company, is participating in Mandela Day for the 13th consecutive year with more than 60 activities in 23 countries.   Stephen Saad, Aspen Group Chief Executive said, “Now, more than ever, communities globally are in desperate need of various forms of aid. They are deeply reliant on non-governmental organisations, the corporate sector, private non-profit organisations and local communities. Global poverty, social, political and environmental challenges coupled with limited healthcare resources are only a few of the hardships that desperate citizens are facing on unprecedented levels. Our employees have embraced Aspen’s Mandela Day campaign since we first launched our initiative in 2011 and we have remained committed to demonstrating an unwavering humanitarian spirit of generosity, humility and care for those who are less fortunate. During 2023 we will reach 865 000 beneficiaries since first engaging in Mandela Day, with activities focused on addressing poverty, confronting climate change and contributing to alleviating inequality. Our Mandela Day campaign has become our Group flagship socio-economic development initiative, and our employees are the heroes behind this effort. I am again encouraged to note the heartfelt commitment of Aspen’s teams from 23 countries who deliver on our purpose to improve health and quality of life of patients (and marginalised citizens) through this campaign.”   Through Mandela Day, we live our ethos of Healthcare. We Care as we partner with a range of beneficiaries across 6 continents. These causes provide relief for abandoned, neglected, orphaned or abused babies, children and women; the elderly, hungry and homeless; individuals battling mental wellness challenges; students who yearn to be educated; those who are disabled; victims of political conflict; residents at social rehabilitation institutions; healthcare facility patients who are in dire need of support and equipment; environmental and climate challenges; and inequality, among others.   Read more about Aspen’s Mandela Day activities at www.aspenmandeladay.com, follow us on Facebook, Twitter or LinkedIn.

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Transactions

Aspen, Saudi Chemical Company Holding and its subsidiary AJA Pharma enter into a memorandum of understanding.

Dubai, United Arab Emirates – Aspen Healthcare FZ LLC (“Aspen Healthcare”), a subsidiary of Aspen Pharmacare Holdings Limited (“Aspen”), a global specialty and branded multinational pharmaceutical company, has entered into a memorandum of understanding (“MOU”) with Saudi Chemical Company Holding (“SCCH”), a well-known company in the local market of the Kingdom of Saudi Arabia, and its subsidiary AJA Pharmaceutical Industries Ltd (“AJA Pharma”), a recognized manufacturer of pharmaceutical products. In terms of this MOU, Aspen, SCCH and AJA Pharma will further expand their existing partnership to strategically collaborate on an extended portfolio of products, the manufacturing of products in the Kingdom of Saudi Arabia, and the export of products to existing Aspen markets.  Daniel Vella Friggieri, Aspen Healthcare Regional CEO for Middle East, North Africa & Turkey, said, “We are excited to announce our strategic collaboration with Saudi Chemical Company Holding and its subsidiary AJA Pharma. This agreement endorses Aspen’s continuous commitment to align with the Kingdom’s 2030 vision and our drive to provide high quality healthcare products to patients in the Kingdom, the Middle East region and beyond”. Thamer Almuhid, Saudi Chemical Company Holding Group CEO commented, “Nowadays technology and globalization play a more important role than ever; having a strategic partnership between Aspen and AJA Pharma will ensure that both the aspects of technologies and global market access are fulfilled towards achieving the KSA 2030 vision. We are pleased to partner with a trusted partner like Aspen and look forward to a prosperous strategic partnership”.

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Media Enquiries

Shauneen Beukes
Group Communications Consultant
+27 31 580 8600
+27 82 389 8900
sbeukes@aspenpharma.com

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Closed Period

Aspen is in a closed period from 1st January 2026 until the publication of the interim results on the JSE SENS platform on the 3rd March 2026.

The live presentation will take place in Cape Town at 08h30 on 2 March 2023.

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