CSPC Pharmaceutical Group (HK:1093) has released an update.
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CSPC Pharmaceutical Group reported a 4.9% decline in total revenue for the first nine months of 2024, driven by decreases in its finished drug and bulk product sectors. The company’s underlying profit attributable to shareholders fell by 15.2%, attributed to reduced sales in key therapeutic areas like oncology, despite growth in newer products. This financial dip reflects the challenges faced amid tightened hospital controls and significant price cuts from volume-based procurement initiatives.
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