![]() The company also fell into the red with a 140 million yuan net loss, reversing a 120 million yuan profit a year earlier.įosun Pharma attributed its big profit growth to an increase in revenue from its self-developed drugs. That performance was far stronger than that for CanSino, whose first quarter revenue of about 100 million yuan was down about 80% from 499 million yuan in the same period a year earlier. Its adjusted net profit increased by a milder 14.8% to 919 million yuan. Its revenue increased by 4.7% year-on-year to 10.87 billion yuan in the first quarter, with its net profit soaring by 116% to 987 million yuan, according to its latest quarterly financial report. Rich drug pipelineįosun Pharma is feeling relatively little post-Covid hangover due to its diverse drug portfolio even before the pandemic. That suggests that CanSino and other vaccine companies are unlikely to experience the same type of big business that early vaccine developers saw in 2021. Some 15 Covid vaccines are now approved for China alone, including several multivalent products able to prevent the Omicron variant. That said, competition in the vaccine market has become quite fierce since the early days when Fosun Pharma and CanSino were among a handful of companies with globally approved products. ![]() Still, demand for related vaccines and drugs could rise in the short term as sporadic outbreaks continue and China and other places prepare for new waves of infection, Founder Securities wrote in a research report. With the pandemic rapidly fading since the start of this year, both inside and outside China, domestic demand for vaccines has dropped sharply worldwide. Although the vaccine ultimately never made it to the Chinese mainland, its sales in Hong Kong and Macau were enough to strongly bolster Fosun Pharma's revenue, adding more than 1 billion yuan ($145 million) in 2021 alone.ĬanSino got an even bigger boost from its own injectable and inhaled adenovirus vector Covid-19 vaccines, which turbocharged its path back to the black with a 1.91 billion yuan profit in 2021, ending five consecutive annual losses. In 2020, Fosun Pharma obtained Greater China rights for the mRNA-based comirnaty vaccine from its developer, German biopharmaceutical company BioNTech ( BNTX). ( OTCPK:CASBF, 6185.HK 688185.SH), which is feeling serious shrinking pains after once emerging as a vaccine giant during the pandemic.īoth Fosun Pharma and CanSino benefited from selling Covid vaccines. But the opposite is true for CanSino Biologics Inc. ( OTCPK:SFOSF, 2196.HK 600196.SH), the loss of the "Covid dividend" is having relatively muted side effects. For Shanghai Fosun Pharma ceutical (Group) Co. The pair of companies that got strong shots from different Covid vaccines are telling different stories in their latest quarterly results as the pandemic draws down.Īs the pandemic winds down, some drug makers that raked in big bucks from vaccine sales over the last two years are quickly losing their vigor.
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