`Over-Excited' Market Sends Aspen to Biggest Plunge in 20 Years
- Traders expected higher price for infant-formula unit sale
- South African drugmaker’s shares tumble as much as 26%
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Aspen Pharmacare Holdings Ltd. shares crashed as much as 26 percent in the biggest slump since June 1998 after the South African drugmaker sold its infant-formula business for $860 million, less than some traders expected. The company also reported full-year earnings that missed estimates.
Read more about the Aspen-Lactalis deal here