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African pharma tycoon falls from grace as Aspen plunges

Aspen CEO Stephen Saad. [Courtesy]

Aspen Pharmacare Holdings Ltd. Chief Executive Officer Stephen Saad had a bad Friday.

Shares in the drugmaker he co-founded more than two decades ago crashed by as much as 50 per cent in Johannesburg as investors balked at mounting debt and another delay to a key asset sale.

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