Aspen said on Monday that it's in "advanced discussions" for a licensing agreement to allow it to produce and sell a Covid-19 vaccine in Africa.
The company, which is the biggest medicine producer on the continent, previous said it was in talks with Johnson & Johnson about a licence that would mean that it could make its own-branded Covid-19 vaccine.
Currently, Aspen has an agreement with Johnson & Johnson to package and fill vials of its vaccine at a plant in Gqeberha.
A licence would enable Aspen to decide on the recipient of the doses it produces, Aspen CEO Stephen Saad told Bloomberg recently.
"The successful conclusion of this licensing agreement may have a material effect on the price of Aspen's securities and, accordingly, shareholders are advised to exercise caution when dealing in the company's securities," the company said in a statement.