East China Pharmaceuticals acquired a 20% stake in Swiss boric acid enterprises plus the layout of the field of medical beauty

East China Pharmaceuticals released its third-quarter 2020 report. In the first three quarters, the Company achieved operating income of RMB25,501 million, down 7.7% YoY, net profit of RMB2.391 billion, up 8.06% YoY, and net cash flow from operating activities of RMB1,902 million, up 109.21% YoY. The company's pharmaceutical manufacturing, pharmaceutical business, medical and U.S. business in the third quarter of this year have maintained a good development trend, month-on-month in the second quarter of the stable growth.According to the announcement, the company's core subsidiary, China East China, achieved operating income of RMB8.810 billion, up 5.01% YoY, and net profit of RMB1.939 billion, up 4.68% YoY.Innovation transformation is entering a bettersaid that in early 2020, East China Pharmaceuticals put forward a comprehensive transformation to innovative pharmaceutical enterprises development strategy. The company plans to focus on the layout of anti-tumor, endocrine and autoimmune three core areas, and constantly through the "independent research and development and cooperation commissioned development and product licensing and introduction (License-in)" new drug research and development model, accelerate the layout of innovative drugs and the introduction of innovative pharmaceutical projects abroad. Under the leadership of the new management team, East China Pharmaceuticals has made rich progress in innovation transformation in the first three quarters of this year, and has achieved the depth layout of three core areas.In the field of anti-tumor, East China Pharmaceuticals and ImmunoGen signed a $305 million cooperation agreement to introduce the world's exclusive anti-ovarian cancer ADC drug, marking the company's full-scale entry into the field of innovative cancer drugs. East China Pharmaceutical officials said that in the future will increase the layout of ADC anti-tumor field, strengthen the deep product innovation chain and industrial ecological chain, and finally achieve the international layout of anti-tumor field. In September, East China Pharmaceuticals teamed up with Excientia, the world's leading AI drug developer, to accelerate research into innovative therapies for small molecule drugs in the field of oncology.In the field of diabetes, East China Pharmaceuticals and Chongqing Paijin have formally signed an agreement on the joint development and commercialization of their Somalutide products, further enriching the company's heavy product pipeline in the field of endocrinology (diabetes). The company has been located in Qiantang New Area, Hangzhou, the company Jiangdong project on the second phase of the reserved project land to start the construction of an international leading level of diabetes polymer drug production base, for the company in the field of diabetes in the field of large molecule drugs in the future domestic and international market development to lay a solid foundation.Since the beginning of this year,the internationalization strategy of the East China Medicine and Medical Ande plate has continued to advance rapidly, reaching product and equity cooperation with a number of internationally renowned enterprises.In March, Sinclair UK, the company's global operations headquarters, and Galderma, a Swiss company, reached an agreement and completed a deal for the distribution of Sculptra's (poly-L-lactic acid micro-ball) products to the Western European market, bringing Sinclair approximately 30.65 million pounds in asset disposal proceeds (after tax); High-end boric acid brand coverage; in August, the company signed a strategic cooperation agreement with Jetema, South Korea, to obtain exclusive representation in China for its Type A botulinum toxin products; in October, Sinclair bought a 20% stake in Kylane, becoming its third largest shareholder and entitled to the IP (intellectual property) and its global interests in two key research and development products in the face and body fillers, as well as the priority of Kylane's future research and development products.Recently, east China medicine and medicine U.S. plate put forward a "double cycle" development strategy. According to the person in charge of East China Medicine and Medical Beauty, the company's medical and aesthetic business adopts the "global operation layout, double-cycle operation and development" strategy, the Chinese market as a special market for the company's medical and aesthetic business, the international first-class, high-tech products have been introduced into the domestic, relying on the company's domestic medical and aesthetic marketing base and the rapid development of the medical beauty industry, to help international high-quality products to land rapidly, to provide personalized and differentiated medical beauty product portfolio, so as to form a domestic and international cycle of development. (China Securities Network)