Aspen shares rise, clarifies call comments

A pharmacist counts pills in a pharmacy. File image: Reuters

A pharmacist counts pills in a pharmacy. File image: Reuters

Published Jun 30, 2014

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Johannesburg - Shares of South African generic drug maker Aspen Pharmacare rise after the company issues statement saying comments made during a pre-closed period conference call with investors were “misconstrued” in the media.

At 09:30 SA time, its shares traded 1.82 percent higher at 293.25 rand, making it the best performer on the benchmark Top-40 index, which is 0.09 percent higher.

Aspen said that during the call, “no price sensitive information was communicated”.

It said media reports that management had “guided for a softer second half in South Africa” were taken out of context and that the comments made on the call were consistent with previous management statements.

The company's shares fell around 9 percent last week from an intra-week peak of 318.36 rand scaled on Tuesday. - Reuters

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