日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Shanghai Pharma eyes new purchases

Updated: 2011-08-16 07:22

By Joy LI(HK Edition)

  Print Mail Large Medium  Small

Shanghai Pharmaceuticals Holdings Co, China's second-largest drug distributor and third-largest drug maker, said on Monday that it expects to boost its portfolio of innovative drugs through a major acquisition in the next six months to a year.

The company laid out its intentions after reporting its first set of interim results since its Hong Kong initial public offering. It called for more acquisitions to build up its core strength on the back of fierce completion and a complex macro environment.

"The potential target could be a mid-sized drug company in the US or Europe owning patent drugs," said Lu Mingfang, chairman of Shanghai Pharma via a teleconference call.

"We hope to make structural improvements to our product portfolio by raising the proportion of innovative drugs, so as to better weather industry risks in the future," Lu added.

Shanghai Pharma, which made its debut on the Hong Kong stock market on May 20, reported on Monday that its net income for the six months ended June 30 surged 65.7 percent to 1.3 billion yuan. Revenue increased 36 percent to 25.21 billion yuan over a year ago.

Revenue from its drug production business reached 4.21 billion, up 11 percent year-on-year. Its distribution business, the other pillar revenue contributor, surged 46.2 percent to 21.17 billion in the first half of 2011.

Xu Guoxiong, executive director and chairman of the company, described the macro-economic and industry environment in the first half as "intricate and complicated."

Industry headwinds included the 27th drug price cut initiated by the National Development and Reform Commission, the nationwide EDL (essential drug list) tendering and the subsequent fall in EDL drug prices driven by the process, and surging prices of raw materials such as Chinese medicine and chemical drugs, according to Xu.

Surging input costs accounted for 70 percent of the decline in Shanghai Pharma's first-half gross profit margin, according to Lu. The gross profit margin of the drug making business dropped 3.3 percentage points to 45.3 percent, while that of the drug distribution business retreated 0.7 percentage point to 7.4 percent.

"The company's full-year gross profit margin of its drug making business is likely to further decline, given that their drug portfolio will not be upgraded in a short period of time and downside policy factors persist," analyst Ding Dan at Guosen Securities wrote in a research note after the company posted its results.

Chairman Lu believes that the deteriorating gross profit margin is a headache facing the entire industry. He said that policy makers will probably intervene in the market for traditional Chinese herbs in the second half of this year.

Lu reaffirmed that the company is "confident" in achieving its profit forecast pledged at its IPO through market expansion and cost reduction.

The company expects its profit attributable to shareholders this year to be no less than 2.1 billion yuan, according to its IPO prospectus.

joyli@chinadailyhk.com

China Daily

(HK Edition 08/16/2011 page2)

主站蜘蛛池模板: 男人天堂网在线观看 | 免费黄色高清视频 | 99久久久国产精品免费蜜臀 | 成人av免费在线 | 夜夜爱爱 | 日韩精品| 国产黄网站在线观看 | 日韩国产欧美一区 | 亚洲资源网 | 欧美一区二区三区爽爽爽 | 在线播放网址 | 日韩簧片在线观看 | 欧美综合一区二区 | 欧美日韩一区二区在线观看 | 亚洲欧美另类一区 | 蜜桃av一区二区三区 | av网在线观看| 欧美一区二区三区四区五区 | 成人综合站 | 四虎黄色网址 | 国产精品天天狠天天看 | 久久综合影院 | 成人在线观看国产 | 激情久久婷婷 | 在线观看成人网 | 成人午夜视频在线观看 | 午夜影视大全 | 欧美精品1区 | 欧美一级片网址 | 日本不卡久久 | av免费播放 | 久久久久国产 | 免费观看成人毛片 | 国产一区二区成人 | 欧美午夜在线 | 一级片免费在线观看 | 波多野结衣一区二区三区在线观看 | 超碰在线国产 | 亚洲aaa级 | 毛片视频免费观看 | 一起艹在线观看 |