BRIEF: CSPC Pharma profit dips on falling drug revenue
1093.HK
CSPC Pharmaceutical Group Ltd. (1093.HK) warned on Thursday that is net profit for the first nine months of this year fell about 16% compared with a year earlier.
It blamed the decline on falling revenue for its oncology and cardiovascular therapeutic drugs, which were down about 18% and 11%, respectively, year-on-year during the period. Those declines were partially offset by a 4% rise in revenue from its nervous system therapeutic drug sales. CSPC’s shares fell 13% to HK$5 in early Friday trade.
By A. Au
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