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Shanghai Pharmaceutical posts 13.8% profit increase
By Ding Yining |
August 22, 2012, Wednesday
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Online Edition
Online Edition
SHANGHAI Pharmaceutical Holding Co said its first-half net profit rose 13.8 percent to 1.15 billion yuan (US$182 million), driven by robust sales of some key products.
Total revenue added 30 percent to 33.6 billion yuan, the company said in a filing to the Shanghai Stock Exchange yesterday.
Its shares climbed 2.9 percent to close at 11.89 yuan in the morning trading.
The company estimated that 23 of its chemical compound medicines will generate more than 100 million yuan in annual sales this year, compared with 17 in 2011.
Shanghai Pharmaceutical said it will continue to feel the pressure of domestic economic slowdown in the short term and uncertainty surrounding China's healthcare policies.
The company said it will further integrate resources and capitalize on its extensive distribution network.
The Shanghai-based drug manufacturer acquired two small companies earlier this year to expand its domestic market share after it completed initial public offering in Hong Kong a year ago.
Total revenue added 30 percent to 33.6 billion yuan, the company said in a filing to the Shanghai Stock Exchange yesterday.
Its shares climbed 2.9 percent to close at 11.89 yuan in the morning trading.
The company estimated that 23 of its chemical compound medicines will generate more than 100 million yuan in annual sales this year, compared with 17 in 2011.
Shanghai Pharmaceutical said it will continue to feel the pressure of domestic economic slowdown in the short term and uncertainty surrounding China's healthcare policies.
The company said it will further integrate resources and capitalize on its extensive distribution network.
The Shanghai-based drug manufacturer acquired two small companies earlier this year to expand its domestic market share after it completed initial public offering in Hong Kong a year ago.
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