Shanghai Pharmaceutical Q1 earnings report: revenue, profit double decline to increase research and development investment

Shanghai Pharma released its first-quarter 2020 report, reporting revenue of RMB40,448 million, down 12.08% YoY, and net profit attributable to shareholders of listed companies of RMB1,038 million, down 7.84% YoY, and net profit attributable to shareholders of listed companies net of non-recurring profit and loss of RMB983 million, down 5.42% YoY.

Shanghai Pharma has increased its investment in research and development in the face of declining revenues and profits. During the reporting period, Shanghai Pharmaceutical Research and Development Expenses invested 341 million yuan, up 25.93% YoY, and net profit attributable to shareholders of listed companies after reducing research and development expenses, net of non-recurring gains and losses, reached 1.324 billion yuan, up 1.06% YoY.As for the reasons affecting the performance, Shanghai Pharma said that because of the outbreak of neo-crown pneumonia, the stage changed the people of the country, including seeking medical consultation, including a number of living habits, thus to the company's business owners have indirectly brought about different degrees of impact.Clinical progress, during the reporting period, Shanghai Pharmaceuticals independently developed oral, small-molecule selective ErbB2 inhibitor SPH3261 capsules and small-molecule anti-tumor drug SPH4336 tablets of clinical trial applications were accepted by the State Drug Administration;With regard to the introduction of BD products, on 28 February, a cooperation agreement was signed with the Israeli pharmaceutical company Mapi Pharma to develop two long-acting injection projects to create a platform for long-lasting slow-release preparations with high-tech barriers. In early March, a commissioned technology development agreement was reached with Beijing Science and Technology Development Co., Ltd. for the treatment of rare diseases.
(Sina Pharmaceutical News)