South African executive Gus Attridge loses $10m

South African executive Gus Attridge has seen a noticeable dip in his wealth following renewed selling pressure on Aspen Pharmacare shares on the Johannesburg Stock Exchange. The slide erased $10.7 million from his holdings, underscoring the pressure facing the continent’s largest drug manufacturer as global markets remain unsettled.

Attridge, one of Africa’s pharma executives, owns 4.3 percent of Aspen—equal to 19,188,850 shares. At the time of drafting this report, his stake is worth R1.8 billion ($104.17 million), down from R1.98 billion ($114.86 million) on Oct. 28. The R184.4 million ($10.7 million) decline reflects a broader cooling toward healthcare stocks in emerging markets.

A short rally followed by renewed downward pressure 

The setback comes shortly after Aspen enjoyed a brief lift in October. Between Sept. 25 and Oct. 13, the value of Attridge’s stake climbed from R1.83 billion ($105.58 million) to R1.94 billion ($112.16 million), giving investors hope that the stock might be turning a corner. Those gains have since disappeared, as renewed market uncertainty has weighed on companies exposed to fluctuating global demand, supply chain costs, and shifting regulatory environments.

Founded 25 years ago by Attridge and Stephen Saad, Aspen Pharmacare has grown into a multinational manufacturer with operations in South Africa, Germany, France, and the Netherlands. The group built its reputation through strategic acquisitions and a steady expansion of its generics and specialty drug portfolio. Even so, it now faces difficult headwinds, including weaker earnings expectations and heightened competition at home and abroad.

Year-to-date decline deepens concerns 

Aspen’s share price has fallen from R103.26 ($5.9858) on Oct. 28 to R93.65 ($5.4287), dragging its market cap below $2.4 billion and raising fresh questions about its near-term financial outlook. The decline extends a slide that has persisted throughout 2025.

Since January, Aspen’s stock has dropped 43.19 percent; a $100,000 investment in Aspen at the start of 2025 would now be worth $56,810—representing a paper loss of approximately $43,190. For Attridge and other long-term shareholders, the downturn marks another reminder of the challenges facing pharmaceutical companies operating in tightening global markets.