CSPC Pharmaceutical Group ( (HK:1093) ) has issued an update.
CSPC Pharmaceutical Group has issued a profit warning, anticipating a 26% decrease in profit for the year ending December 2024 compared to the previous year. This decline is primarily due to a 7% drop in revenue from its finished drugs business, impacted by significant price cuts in its oncology products and exclusion from a national procurement program affecting its cardiovascular drugs. The company is still finalizing its financial statements, with audited results expected in March 2025.
More about CSPC Pharmaceutical Group
CSPC Pharmaceutical Group is a Hong Kong-based company operating in the pharmaceutical industry, focusing on the development, production, and sale of pharmaceutical products. The company is known for its finished drugs business, with a significant market presence in oncology and cardiovascular therapeutic areas.
YTD Price Performance: 7.07%
Average Trading Volume: 3,997
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $7.5B
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