China’s Shanghai Pharmaceuticals (SPH; HKG: 2607; SHA: 601607) has announced its financial results for the third quarter of 2024, reporting a total revenue increase of 6.14% year-on-year (YOY) to RMB 209.629 billion (USD 29.42 billion). The pharmaceutical industry and pharmaceutical business segments achieved sales of RMB 18.284 billion (USD 2.56 billion) and RMB 191.345 billion (USD 26.81 billion), respectively, with the latter seeing an 8.28% YOY growth. Revenues for the third quarter alone surged 8.16% YOY to RMB 70.216 billion (USD 9.84 billion).
In the first three quarters of 2024, SPH successfully launched 13 imported general agent varieties, and the drug CSO contract promotion business saw revenues of RMB 6.1 billion (USD 854.8 million), marking a 176.3% YOY increase. The non-pharmaceutical business also showed strong performance, with device sales reaching RMB 32.6 billion (USD 4.57 billion), up 11.9% YOY.
SPH is actively progressing in its new drug pipelines, with 60 drugs under trial review or in late clinical stages, including 46 innovative drugs, indicating a robust development strategy for the company.- Flcube.com
