Fosun Pharma Group posts stellar growth in revenue and profit

Fosun Pharma Group turned in strong double-digit growth in revenue and profit in the first half of the year as well as in its overseas income, the Chinese pharmaceutical company said today. 

The company posted a 20.4 percent jump in revenue to 8.35 billion yuan(US$1.24 billion) while profit added 12.6 percent from a year ago to 1.69 billion yuan. Income from overseas surged 58.6 percent annually to 1.47 billion yuan amid its successful internationalization strategy.

In the first six months, revenue from pharmaceutical manufacturing and research and development totaled 5.77 billion yuan, up 19.12 percent annually while that of its healthcare business gained 37 percent from a year ago to 1.01 billion yuan.

During the half-year period, the group said it spent 626 million yuan on research and development, an increase of 28 percent from the same period a year ago.

Earlier this year, Fosun Pharma set up a joint venture with Kite Pharma, a leading global provider of T cell-mediated immunity products, to create a cell-mediated immunity platform to innovate products and technologies in China.

In the second half of 2017, Fosun Pharma will continue to focus on innovation and internationalization and at the same time enhance its efforts to acquire and integrate with domestic and overseas pharmaceutical manufacturing companies.