{"id":10149,"date":"2012-04-21T04:21:57","date_gmt":"2012-04-21T02:21:57","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/s-africa-stocks-higher-led-by-aspen-drug-deal\/"},"modified":"2012-04-21T04:21:57","modified_gmt":"2012-04-21T02:21:57","slug":"s-africa-stocks-higher-led-by-aspen-drug-deal","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-stocks-higher-led-by-aspen-drug-deal\/","title":{"rendered":"S.Africa stocks higher, led by Aspen drug deal"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Aspen hits all-time high on $263 mln OTC deal<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Traders see choppy trade in coming weeks<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, April 20<\/span> (Reuters) &#8211; South African stocks rose<br \/>\nfor a fourth day on Friday as generic drug maker Aspen<br \/>\nPharmacare hit an all-time high after announcing a $263<br \/>\nmillion deal with Britain&#8217;s GlaxoSmithKline.<\/p>\n<p><span><\/span><\/p>\n<p>More widely, local stocks tracked foreign markets higher<br \/>\nthough choppy trade was seen in the week ahead with juries still<br \/>\nout on Europe&#8217;s seemingly never-ending debt problems.<\/p>\n<p><span><\/span><\/p>\n<p>Aspen said it would pay $263 million for a clutch of<br \/>\ninternational over-the-counter brands from GlaxoSmithKline. The<br \/>\nbrands being sold generated sales of around 60 million pounds<br \/>\n($96.37 million) in 2011.<\/p>\n<p><span><\/span><\/p>\n<p>Shares in the company shot up to an all-time high of 124.01<br \/>\nrand, according to Reuters data, before closing 5.93 percent<br \/>\nhigher at 122.89 rand.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Aspen seems to be beefing up its category presence in<br \/>\nanalgesic (painkillers), which is a top selling category, hence<br \/>\nit&#8217;s important to have strong portfolio of products in this<br \/>\narea,&#8221; said Nino Frodema, a fund manager at Momentum Asset<br \/>\nManagement.<\/p>\n<p><span><\/span><\/p>\n<p>The benchmark blue-chip Top-40 index ended up 0.25<br \/>\npercent to 30,185.77, while the broader All-Share index<br \/>\nclosed 0.32 percent higher at 34,216.55.<\/p>\n<p><span><\/span><\/p>\n<p>Other gainers included South African bank FirstRand<br \/>\n, up 3.35 percent to 24.70 rand and RMB Holdings<br \/>\n, up 3.07 percent to 32.90 rand.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Aspen hits all-time high on $263 mln OTC deal * Traders see choppy trade in coming weeks JOHANNESBURG, April 20 (Reuters) &#8211; South African stocks rose for a fourth day on Friday as generic drug maker Aspen Pharmacare hit an all-time high after announcing a $263 million deal with Britain&#8217;s GlaxoSmithKline. More widely, local [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10149","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10149"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10149\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}