COVID-19 has mixed effect on Aspen Pharmacare's bottom line

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Drugmaker Aspen Pharmacare has maintained its profit forecast for its year to end-June, as the COVID-19 pandemic has a mixed effect on the group and continues to generate uncertainty, reports Business Day. Elevated demand for anaesthetics in parts of Europe towards the latter part of the 10-month period to end-April, has offset the expected decline in the Chinese business brought about by the postponement of elective surgeries and less frequent haemodialysis treatment of patients, the group said.

“Stockpiling of everyday healthcare products and advanced filling of prescriptions by consumers in response to the COVID-19 pandemic has had a positive impact on the Regional Brands business,” the group said.

“This has led to overstocking in supply channels and in households, which we anticipate will result in decreased demand over the next few months as stock levels equalise.”

Full Business Day report

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