Stephen Saad

In April 2025, Aspen announced a major contractual dispute with a customer over an agreement covering the manufacture and technology of mRNA products. The company warned that the impact could reduce normalised manufacturing EBITDA by approximately R2 billion; its shares fell by more than 30% after the announcement. The dispute contributed to an annual after-tax loss of R1.1 billion and substantial impairments. In October 2025, Aspen announced a final settlement of €25 million.

State of the evidence

Settlement

Attribution

Command responsibility

During the global shortage of COVID-19 vaccines, Aspen's Gqeberha plant filled and packaged J&J doses, some of which were shipped to Europe while Africa remained undersupplied. The situation triggered major controversy over vaccine equity. Aspen subsequently negotiated a licence allowing it to manufacture and market doses under its own brand for the African market, but African demand was then lower than expected.

State of the evidence

Documented

Legal status — source text

Not applicable

Attribution

Direct responsibility

In 2017, the European Commission opened a formal investigation into the pricing of six off-patent cancer medicines marketed by Aspen. In February 2021, it made the group's commitments legally binding, including an average price reduction of approximately 73% and supply guarantees.

State of the evidence

Documented

Attribution

Command responsibility

In the United Kingdom, Aspen admitted participating in an anti-competitive agreement concerning fludrocortisone, which protected its position as a supplier by excluding or acquiring a potential competitor. The group agreed to pay £8 million to the NHS and was sanctioned in CMA proceedings.

State of the evidence

Admitted by the person

Attribution

Command responsibility

Italy's competition authority concluded that Aspen had abused its dominant position to secure price increases of 300% to 1,500% for several essential cancer medicines, following an aggressive negotiation strategy with regulator AIFA. Aspen received a fine of just over €5 million. New prices were subsequently negotiated and some reductions reached 82%; Aspen's compliance was confirmed in 2018.

State of the evidence

Documented

Attribution

Direct responsibility

In 2017, South Africa's Competition Commission opened an investigation into suspected excessive prices for cancer medicines sold by Aspen. In October 2017, it closed the case after concluding that it could not sustain an excessive pricing case against Aspen.

Attribution

Command responsibility