ASPEN PHARMACARE RAISES ATTRIBUTABLE NET PROFIT 78%

Short Code: APN
ISIN Code: ZAE000023586
Press Release

Aspen Pharmacare, Southern Africa's largest generics manufacturer and the
largest JSE-listed pharmaceutical company, has announced an outstanding
performance for the financial year ended June 2001.

* Turnover from continuing operations increased by 18 percent to R1.118
billion (R0.95  billion).

* Headline earnings per share (HEPS) rose 43 percent to 48.4 cents (33.8
cents). After excluding discontinued operations the increase in HEPS
amounted to 81 percent.

* Operating profit from continuing operations before amortisation rose 41
percent from R212.4M to R298.5M.

* Net profit attributable to ordinary shareholders increased 70% to R178,9M
(R100.7M).

Stephen Saad, Group Chief Executive Officer said that management was pleased
with the Group's performance, particularly in the period after the

resolution of Kinesis, and was positive about Aspen Pharmacare's

positioning. "We've undergone a process of realignment and have made a few
strategic appointments to prepare us to optimize the Group for further
growth.  We are in an ideal position to benefit from changes in legislation
in South Africa which will lead to generic substitution."
South African Operations

Saad attributed the outstanding performance primarily to the impressive
results of the South African operation. "Management's focused efforts on
operations combined with several successful product launches contributed
significantly to the growth in the local sector.  The most notable product
launched was Mybulen, the non-narcotic analgesic, which is expected to
become one of Aspen Pharmacare's leading brands and which has already
delivered sales far exceeding management's expectations," said Saad.

"The Pharmaceutical Division's results were pleasing and Aspen Pharmacare
retained its dominant position in the private generic market. Improved
manufacturing cost efficiencies resulted in competitive pricing and enhanced
global competitiveness as well as an increased number of State tenders being
awarded to Aspen Pharmacare. Access to ethical products received a healthy
injection, with strategic deals being signed with multinationals such as
Astra Zeneca, Schering and Almirall Prodesfarma."

"The Consumer Division recorded positive results, with the over the counter
(OTC) sector increasing its market share. Aspen Pharmacare's acquisition of
the Formule Naturelle range promises to enhance the company's strength in
natural products. The FMCG division delivered reasonable margins in spite of
difficult market conditions."

Kinesis was disposed of to Tibbett & Britten (SA) (Pty) Limited (T&B) in May
2001 and Aspen Pharmacare entered into an agreement with T&B for the

provision of its distribution requirements. The resolution of the

difficulties surrounding Aspen Pharmacare's distribution channels has
resulted in a return to strong operating cash flows. Net cash inflows from
operating activities amounted to R223,9 million during 2001 of which R191,0
million was generated in the second half.

"With our strong cash flows and borrowings at targeted levels, we are now in
a position to declare a dividend" said Saad.  The dividend declared of 8
cents per share is covered six times by HEPS.
International Operations

"A presence has been established in the United Kingdom and Australia, with
both of these businesses achieving their performance targets for their
periods of operation," said Saad.

In December 2000 Aspen Pharmacare acquired a 51% interest in Co-pharma
Limited, a UK generic and OTC marketing and distribution company. Aspen
Pharmacare Australia (Pty) Limited acquired a range of pharmaceutical and
consumer products from Aventis Australia in May 2001 for R34,3 million.
 "Aspen Pharmacare is acutely aware of the HIV/AIDS dilemmas facing

government and the Group is suitably positioned to play a meaningful role in
tackling the pandemic in Southern Africa. Agreements have already been
concluded with international companies giving Aspen Pharmacare access to the
active pharmaceutical ingredient (API) required for most anti-retroviral
(ARV) cocktails. Bristol Meyers Squibb also recently authorised Aspen
Pharmacare to produce Stavudine and Didanosine - their patented ARV

molecules. The Group has already begun development of the necessary

pharmaceutical dossiers and remains committed to contributing towards the
fight against HIV/AIDS in a socially responsible manner."

Saad said prospects for the year ahead remain promising. "We are targeting
an increase in headline earnings per share in excess of 25%.  Growth is
anticipated from increased market penetration by recently launched products,
from further new product launches and from the international business."
ends

Issued by:     Shauneen Beukes, Shauneen Beukes Communications
               Tel & Fax: (012) 661-8467
               Cell: 082 389 8900

On Behalf Of:  Stephen Saad, Aspen Pharmacare Group Chief Executive
               Tel: (031) 268 9506
               Fax: (031) 208-0170
               Cell:  083 303 4833

               Gus Attridge, Aspen Pharmacare Group Chief Financial Officer
               Tel: (031) 268 9505
               Fax: (031) 208 0170
               Cell: 083 628 8813