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CSPC Pharmaceutical Announces 2017 Interim Results

2017-08-22 14:22
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-Profit attributable to shareholders increased 27.1% to HK$1,313 million
-Innovative Drug Business Maintained Strong Growth Momentum
-Common Generic Drug Business Continued to Deliver Stable Growth
-Bulk Drug Business Maintained Leading Position in the Industry

HONG KONG, Aug. 22, 2017 /PRNewswire/ -- CSPC Pharmaceutical Group Limited (HKEx: 1093) ("CSPC Pharmaceutical" or the "Group"), a leading pharmaceutical company in China, is pleased to announce its interim results for the six months ended 30 June 2017 (the "Period"). During the Period, the Group recorded sales of approximately HK$7,202 million, representing an increase of 17.2% (or increase of 23.2% on a constant currency basis) over the same period of last year. Profit attributable to shareholders was approximately HK$1,313 million, up 27.1% (or up 33.6% on a constant currency basis) from the same period of last year.

With continuous efforts in academic-based promotion, the Group's innovative drug business continued its robust growth, with further expansion of its market share and a stronger presence and coverage in the high-end market. Major innovative drugs of the Group, including "NBP", "Jinyouli" and "Duomeisu", were able to achieve strong growth during the Period. Sales of all the innovative drug products in aggregate reached approximately HK$2,949 million during the Period, representing a 30.0% growth (or a 36.6% growth on a constant currency basis) year-on-year.

In respect of common generic drug business, the Group strengthened its strategic cooperation with its core distributors and initiated interactive marketing activities to improve the reputation of its common generic drugs. Chinese medicine soft capsule product series, high-end antibiotics, health supplement products and products for chronic diseases of the Group have achieved sound growth during the Period. Overall, the common generic drug products maintained stable growth during the Period, generating sales of approximately HK$2,325 million, representing an increase of 10.1% (or increase of 15.7% on a constant currency basis) year-on-year.

As to bulk drug business, product price of vitamin C products rebounded and stayed at a reasonable level during the Period. As a result, the contribution from vitamin C business continued to improve during the Period. For caffeine business, the market demand for caffeine remained stable while product prices recorded a slight increase. The Group further improved its overall business performance by promoting new products and lowering production costs. The caffeine business continued to contribute stable profit to the Group. Market demand for antibiotic products remained sluggish during the Period.

Currently, the Group has over 170 products under research and development. Among these products, 18 are Class 1 new drugs and 49 are Class 3 new drugs. During the Period, the Group has submitted clinical trial application for 4 drugs and production application for 5 drugs to the China Food and Drug Administration ("CFDA"), and has obtained 3 clinical trial approvals from the CFDA.

At present, the Group has 32 products (including "paclitaxel for injection (albumin-bound)") pending for production approval by the CFDA and 17 products undergoing bioequivalence study or clinical trial (including 9 Class I new drugs).

With regard to the Abbreviated New Drug Application ("ANDA") in the U.S., the Group has submitted application for 3 drugs and obtained approval for 6 drugs so far this year. Currently, the Group has a total of 4 drugs with ANDA application submitted and a total of 14 drugs in the research stage.

Meanwhile, phase II clinical trial of "butylphthalide soft capsules" in the U.S. is in the stage of selecting clinical centres to conduct the clinical research. It is expected that 20 subjects will be enrolled by end of this year. Further, "mitoxantrone hydrochloride liposome injection" has also been approved by the U.S. FDA to commence clinical trials. At present, the protocol for clinical trial has passed the ethical evaluation of 4 centres and has started subject screening.

About CSPC Pharmaceutical Group Limited

CSPC Pharmaceutical Group Limited is a leading pharmaceutical group in China. The Company has been listed on the Main Board of the Hong Kong Stock Exchange since 1994. CSPC Pharmaceutical is a leading player of innovative and generic drugs in China. Blockbuster innovative products include "NBP" series, "Oulaining" series, "Xuanning" series, "Duomeisu" and "Jinyouli". CSPC Pharmaceutical is also a major manufacturer of bulk drugs, with principal products that include vitamin C, antibiotics and caffeine. The production facilities of CSPC Pharmaceutical are mainly located in Shijiazhuang City, Hebei Province, China. For more information, please visit its website at http://www.cspc.com.hk.

Source: CSPC Pharmaceutical Group Limited

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