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Monday, 26 November 2018, 09:34 HKT/SGT
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Source: Sino Biopharmaceutical Limited
Sino Biopharmaceutical Announces 2018 Third Quarterly Results
Profit Attributable to the Group Increased by Approximately 29.9% to Approximately RMB 2,247,477,000

HONG KONG, Nov 26, 2018 - (ACN Newswire) - Sino Biopharmaceutical Limited ("Sino Biopharmaceutical" or the "Group") (HKEX:1177), a leading and innovation-driven pharmaceutical conglomerate in the PRC, announced its unaudited third quarterly results for the nine months ended 30 September 2018 ("the review period"). This is Sino Biopharmaceutical's first quarterly results since its inclusion as a constituent stock of the Hang Seng Index on 10 September 2018.

Results
During the review period, the Group's revenue increased by approximately 37.4% to RMB15,730,163,000. Profit attributable to the Group before and after accounting for unrealized fair value gains and losses of equity investments and financial assets was approximately RMB2,247,477,000 and approximately RMB2,201,258,000 respectively, representing an increase of approximately 29.9% and approximately 22.0% when compared with the last corresponding period. Basic earnings per share rose to approximately RMB18.11 cents and RMB17.74 cents respectively, representing a growth of around 21.6% and around 14.2% when compared to the last corresponding period. The Group has maintained a strong financial position with cash and bank balances reaching approximately RMB6,300,784,000 (As at 30 September 2017: approximately RMB4,926,930,000).

The Board of Directors declared a third quarterly dividend payment of HK2.0 cents per share. Together with the dividend of HK2.0 cents already paid in each of the first and second quarters, the total dividends for the first three quarters of the year amounted to HK6.0 cents per share. (First three quarters of 2017: HK5.5 cents).

Business Performance
During the review period, sales of new products accounted for approximately 18.1% of the Group's total revenue. Focus V (Anlotinib), the new Category 1 small molecule tyrosine kinase inhibitor of multi-targets of growths for fighting tumours, which the Group developed itself and therefore owns its intellectual property right, was very well-received after its mass launch, gaining recognition from doctors and patients alike, and hence reported a strong performance. In the National Medical Insurance Bureau-led negotiation on cancer medicines to be included for medical insurance coverage in 2018, Focus V, a worthy representative of domestic innovative drugs, has been added to the National Drug Catalogue, which means demand in the market for the product is virtually assured

Driven by the "heavyweight" new antitumor medicines, the Group's sales grew notably and the sales of other oncology medicines such as Qingweike, Genike and Yinishu also rose. With the promotion through continuous academic education, the new digestive system products Aisuping and Deyou and oncology product Saiweijian delivered rapid growth. Products that passed the Consistency Evaluation including Tuotuo, Yilunping and Runzhong reported stable growth. The increasingly mature sales model for pain relief and chronic disease management products drove the steady growth of analgesic products, including Kaifen and Debaian, and also respiratory system medicine Tianqingsule. Academic promotion for the orthopedic medicine Gaisanchun also achieved satisfactory results.

Sales performance of the Group's major medicine types during the review period are outlined below:

Hepatitis medicines:
- Sales of hepatitis medicines amounted to approximately RMB5,001,390,000, representing around 31.8% of the Group's total revenue. The performance of major products in this category included:
Runzhong dispersible tablets recorded sales of approximately RMB2,572,860,000, a growth of about 3.4% against the same period last year;
Tianqingganmei injections reported sales of approximately RMB1,343,230,000;
Tianqingganping enteric capsules recorded sales of approximately RMB330,110,000, a year-on-year growth of about 6.2%;
Tianding tablets recorded sales of approximately RMB330,020,000, a rise of around 10.3% when compared to the last corresponding period; and
Sales of Mingzheng capsules amounted to approximately RMB180,770,000.

Oncology medicines:
- Sales of oncology medicines amounted to approximately RMB2,292,980,000, accounting for around 14.6% of the Group's total revenue. The performances of major products in this category are as follows:
Sales of Saiweijian injections amounted to approximately RMB388,490,000, an increase of approximately 50.3% as compared with the same period last year;
Sales of Genike Capsules amounted to approximately RMB180,730,000, an increase of approximately 37.1% as compared with the same period last year;
Qingweike injections recorded sales to approximately RMB170,670,000, an increase of around 37.0% as compared with the same period last year;
Sales of Shoufu tablets amounted to approximately RMB133,590,000;
Sales of Yinishu tablets amounted to approximately RMB123,060,000, a growth of around 51.4% as compared with the same period last year; and
Zhiruo injections reported sales of approximately RMB116,130,000.

Cardio-cerebral medicines:
- Sales of cardio-cerebral medicines amounted to approximately RMB2,150,850,000, accounting for around 13.7% of the Group's total revenue. The performance of major products of these lines was as follows:
Yilunping tablets recorded sales of approximately RMB607,330,000, a growth of around 26.6% against the same period last year;
Kaishi injections recorded sales of approximately RMB584,160,000;
Sales of Tuotuo calcium tablets amounted to approximately RMB495,540,000, an increase of around 14.7% when compared with the same period last year;
Sales of Beraprost Sodium tablets amounted to approximately RMB303,620,000, a growth of around 15.9% against the same period last year; and
Tianqingning injections reported sales of approximately RMB118,380,000.

Analgesic medicines:
- Sales of analgesic medicines amounted to approximately RMB1,639,910,000, accounting for around 10.4% of the Group's total revenue. The performances of major products are as follows:
Kaifen injections recorded sales of approximately RMB1,378,380,000, an increase of around 23.4% as compared with the same period last year; and
Sales of Debaian Cataplasms amounted to approximately RMB506,710,000, approximately 75.0% higher than that of the same period last year.

Orthopedic medicines:
- Sales of orthopedic medicines amounted to approximately RMB1,188,290,000, accounting for around 7.6% of the Group's total revenue. The performances of major products are as follows:
Gaisanchun capsules recorded sales of approximately RMB779,440,000, an increase of about 20.0% as compared with the same period last year; and
Sales of Jiuli glucose tablets amounted to approximately RMB220,940,000, a growth of around 23.7% against the same period last year.

Digestive system medicines:
- Sales of digestive system medicines amounted to approximately RMB900,240,000, accounting for around 5.7% of the Group's total revenue. The performances of major products are as follows:
Sales of Aisuping injections amounted to approximately RMB574,610,000, a growth of approximately 72.6% as compared with the same period last year; and
Getai tablets recorded sales of approximately RMB187,250,000, an increase of approximately 9.5% as compared with the same period last year.

Anti-infectious medicines:
- Sales of anti-infectious medicines amounted to approximately RMB714,990,000, accounting for around 4.5% of the Group's total revenue. The performances of major products are as follows:
Sales of Tiance Injections amounted to approximately RMB465,970,000; and
Tianjie tablets recorded sales of approximately RMB180,590,000, an increase of around 56.0% against the same period of last year.

Respiratory system medicines:
- Sales of respiratory system medicines amounted to approximately RMB629,500,000, accounting for around 4.0% of the Group's total revenue. The performances of the major products are as follows:
Tianqingsule inhalation powder recorded sales of approximately RMB383,900,000, a rise of about 23.2% over the same period last year; and
Sales of Chia Tai Suke tablets amounted to approximately RMB153,990,000, an increase of approximately 23.4% as compared with the same period last year.

Parenteral nutritious medicines:
- Sales of parental nutritious medicines amounted to approximately RMB523,830,000, accounting for around 3.3% of the Group's total revenue. The performance of the major products are as follows:
Xinhaineng injections recorded sales of approximately RMB377,150,000; and
Sales of Fenghaineng fructose injections amounted to approximately RMB136,960,000.

Diabetic medicines:
- Sales of diabetic medicines amounted to approximately RMB99,820,000, accounting for around 0.6% of the Group's total revenue. The performance of the major product is as follows:
Taibai sustained release tablets recorded sales of approximately RMB86,510,000, an increase of around 26.7% when compared to the same period last year.

R&D
The Group's ongoing investment in R&D has started to enter the harvest period. During the third quarter, the Group obtained three production approvals (three specifications of Bortezomib for Injection), and eight clinical approvals (including five Category 1.1 chemical medicines, one Category 2.1 chemical medicine, one Category 2 biopharmaceutical product and one Consistency Evaluation product). The Group has filed six new production applications (including three innovative drugs), four production applications after the completion of bioequivalency and three applications for Consistency Evaluation. It has received 16 authorized patent notices for invention patents and filed 133 new patent applications, including 128 invention patents, one utility model patent and four apparel design patents.

Prospects
Looking ahead at the full year, the implementation of healthcare reform measures will present more difficulties for operations within the pharmaceutical industry. Supply-side reform polices aim at improving the availability of new products and ensuring generic drugs remain in line with the Consistency Evaluation standards and amendments of the essential drug catalogue, which will have a short-term negative impact on the industry, but at the end they will help speed up the upgrade of product quality and structure and see healthier development of the industry. To seize this valuable opportunity, the Group will pursue fast expansion and consolidate its industry leadership by leveraging its strong R&D pipeline and the excellent quality of its products.

About Sino Biopharmaceutical Limited
Sino Biopharmaceutical Limited is a leading innovation-driven pharmaceutical conglomerate in the PRC. Its business encompasses a fully-integrated chain which spans from R&D to the manufacture and sales of pharmaceutical products. The Group's products have gained a competitive foothold across various therapeutic categories with promising potential, covering a vast array of biopharmaceutical and chemical medicines for treating liver diseases, tumors, cardio-cerebral diseases, analgesia, respiratory system diseases, digestive system and orthopedic diseases. The Group was the first enterprise that passed the Consistency Evaluation for generic drugs in the PRC.

Sino Biopharmaceutical is a constituent stock of the following indices: MSCI Global Standard Indices - MSCI China Index, Hang Seng Index, Hang Seng Index - Commerce & Industry, Hang Seng Composite Index, Hang Seng Composite Industry Index - Consumer Goods, Hang Seng Composite LargeCap Index, Hang Seng Composite LargeCap & MidCap Index, Hang Seng China (Hong Kong-listed) 100 Index and Hang Seng Stock Connect Hong Kong Index. Sino Biopharmaceutical was ranked as one of "Asia's Fab 50 Companies" by Forbes Asia for three consecutive years in 2016, 2017 and 2018.



Nov 26, 2018 09:34 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance, Daily News, BioTech
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