It has recently been announced that Discovery Health will be included in the JSE's top 40 index. Along with Aspen, Discovery will be replacing Mondi and Sappi, two paper producing companies.
www.discovery.co.za
Aspen, Discovery added to Top-40
Mar 12 2009 09:06
Johannesburg - Africa's biggest generic drug maker Aspen Pharmacare and health insurer Discovery will be added to the JSE Top-40 index of blue chips, the JSE said on Wednesday.
They will replace paper producers Mondi and Sappi, which will be dropped from the Top-40 index on March 23.
Aspen has announced it is in undisclosed talks and industry experts have speculated it could be a takoever target for GlaxoSmithKline.
The South African-based firm has already teamed up with Glaxo in a deal whereby the companies sell each other's drugs, giving them both access to more markets and distribution networks.
Aspen is the leading supplier of HIV/AIDS drugs in South Africa, which has the world's highest incidence of people infected with HIV.
Discovery, which owns South Africa's largest health insurer, reported last month that its diluted headline earnings per share rose 18% in the six months to end-December.
Discovery was unbundled from South African financial services firm FirstRand in 2007.
- Reuters
Courtesy of: http://www.fin24.com/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-24_2484120
