Sino Biopharmaceutical (1177.HK)_ 3Q sales recovery on track; Acquiring an A-share platform
2024-11-03 17:15
31 October 2024 | 7:37AM HKT 2131d4eaf4cb4d50b1d51c8af07b64b4 Sino Biopharmaceutical (1177.HK): 3Q sales recovery on track; Acquiring an A-share platform 3Q sales recovery on track: Sino Biopharm reported 3Q sales of Rmb5.47bn (+14.3% y/y vs. +11.9% in 1H), a growth rate on par vs. Hengrui's 13% and Fosun Pharma's 12%, and faster vs. 1H due to the lower base in 3Q23 when there was an anti-corruption probe. We believe new products, e.g. biosimilars / long-acting G-CSF, were the key drivers. 3Q core earnings ...