Shanghai Fosun Pharmaceutical (Group) Co., Ltd (SHA: 600196, HKG: 2196) has released its financial report for the third quarter of 2024, highlighting overall revenues of RMB 30.912 billion (USD 4.33 billion) for the first three quarters, marking a 5.74% year-on-year (YOY) increase excluding COVID-19 related products. The company’s revenues for the third quarter reached RMB 10.119 billion (USD 1.42 billion), up 12.3% YOY.
In the first three quarters, Fosun Pharmaceutical allocated RMB 3.915 billion (USD 548.61 million) to research and development (R&D), with R&D expenses amounting to RMB 2.648 billion (USD 371.07 million). The third quarter witnessed significant advancements in multiple in-house developed products. Foritinib, a therapy for ALK-positive non-small cell lung cancer (NSCLC), showed promising overall efficacy in a Phase III study, significantly improving progression-free survival (PFS) compared to crizotinib, reducing the risk of CNS progression, and maintaining controllable safety with no new safety signals observed post-treatment. A real-world multi-center study for serplulimab combined with chemotherapy in first-line extensive-stage small cell lung cancer (ES-SCLC) confirmed clinical study results. The anti-programmed death-1 (PD-1) inhibitor also received a positive recommendation from the Committee for Medicinal Products for Human Use (CHMP) of the EMA for approval in combination with carboplatin and etoposide for the first-line treatment of adult patients with ES-SCLC.
During the first three quarters, the dual-listed Fosun Pharmaceutical spent RMB 127 million (USD 17.8 million) and HKD 66.9 million (USD 9.37 million) to repurchase 5.6777 million A-shares and 5.4715 million H-shares, respectively. The H-share repurchase plan remains in effect. Additionally, controlling shareholder Fosun High Technology invested RMB 101 million (USD 14.15 million) to boost its holdings of 4.295 million A-shares in Fosun Pharma under the latest increase plan.- Flcube.com
