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SFOSF - Fosun Pharma Hopes Covid Vaccine Can Cure Its Ailing Margins
Shanghai Fosun Pharmaceutical Co. Ltd.
Company licensed to sell BioNTech’s mRNA vaccine in China reported its revenue rose 28.8% last year, with the Comirnaty vaccine bringing in over $157 million.
Fosun Pharma’s revenue and profit both rose around 30% last year as Covid-19 vaccines and stake sales in its subsidiaries contributed to its top and bottom lines.
The company’s gross margin fell sharply as some of its drugs were added to government procurement programs that promise higher sales but at heavy discounts.