Sinopharm Beats Estimates for First Half of 2011

Sinopharm reported 2011 first-half revenues climbed 48%, benefiting from the company’s massive acquisition program that helped to fuel the growth. There was considerable worry that PRC-mandated drug price cuts would put a severe crimp on Sinopharm’s bottom line, but the company surprised with a 23% increase in net income. The company’s shares reacted positively to the earnings report, rising 16% to end the session at HK$19.40. More details.... Stock Symbol: (HK: 1099)     Share this with colleagues: