Investing.com – Hong Kong-listed Shanghai Fosun Pharmaceutical Group Co Ltd (HK:2196) said in its earnings statement published on Monday evening that its first half year net profit was down 7.6% from the same period in 2017 to CNY1.6 billion.
Diluted earnings per share was CNY0.63 for the six months ended June 30, compared to last year’s CNY0.70, Fosun reported, adding that revenue was up by 42.2% to CNY11.8 billion from the same period last year.
The company has drastically increased its spending on R&D in the first half of 2018 by 53.7% to CNY709 million, according to the report.
As of end of June, Fosun has 240 types of drugs in pipeline and on sale, including 13 new molecule drugs, 10 innovative biologics, 17 biosimilars, 131 generics of international standard, 55 items of consistency assessments, two Chinese medicines and 12 items from external introduction.