Market Wrap - Stock Pick — Aspen Pharmacare

Steven Schultz from Momentum chose Aspen Pharmacare as his stock pick of the day.

"Its Aspen, it's a counter that's effectively halved in value over the past twelve months. There's been a number of reasons why, most notably debt buildup and shareholders are obviously uncomfortable with that. We've seen not a lot of assistance come through in the form of a slight decline in earnings and revenue. The company has of course disposed of assets and paid down some debt. It was previously at about fifty three billion rands worth of debt, today sits at about thirty nine billion so, definitely making headway in paying off their debt. It is also transforming the company, its European operations are currently under strategic review and it is transforming across from a generics business into a sterile injectables business. There are many that have criticized its organic grow