Investing.com – China-based biotech giant Sino Biopharmaceutical Ltd has reported a 24% growth in its year-on-year net profit for the first half of 2018, while its income also climbed 30% to $1.42 billion, according to a company statement.
The company said on Friday that it expects to manufacture 30 to 45 new products, and that its new biological is likely to get approval in the first half of 2019 the earliest.
Sino Biopharm is set to become HSI constituent on Sept. 10. The company’s R&D expenditure in 1H18 amounts to $1.3 billion. There are over 482 candidates in its pipeline, according to the statement.
The company owns four drugs that had sales over $1 billion in 2017, while it expects to have 6 to 7 drugs with over $1 billion of sales this year, and grew to 14 in 2020.