Aspen Pharmacare share price declines by 8%

Aspen Pharmacare share price shed more than 8 percent on the JSE this morning after the South African drugmaker said it has made commitments with the UK Competition and Markets Authority (CMA) whereby the group will make ex-gratia payment of £8m related to the supply of Fludrocortisone and Dexamethasone. Supplied
DURBAN – 
Aspen Pharmacare share price shed more than 8 percent on the JSE this morning after the South African drugmaker said it has made commitments with the UK Competition and Markets Authority (CMA) whereby the group will make ex-gratia payment of £8m related to the supply of Fludrocortisone and Dexamethasone.
The group said it has offered commitments to the CMA for the purposes of addressing the competition concerns arising from certain aspects of the CMA’s investigation. 
“The CMA has given notice that it proposes to accept the commitments,” the group said, adding that the giving of the commitments does not constitute an admission of any wrongdoing by Aspen with respect to the alleged anti-competitive conduct under Article 102 of the Treaty on the Functioning of the European Union (TFEU). 
“In addition, the commitments remain subject to the CMA’s final approval,” the group added.
The share price declined to R68.09 a share in the morning, down from Tuesday’s closing price of R74.51. However, it recovered some of the losses in the afternoon to trade around R70.04. 
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Source: iol.co.za