By Ben Otto
Shanghai Fosun Pharmaceutical (Group) Co.’s net profit rose 23% in 2019 on higher sales and gains from the disposal of equity interest.
The Shanghai-based company’s net profit for the year was 3.32 billion yuan ($467.6 million), it said in a stock-exchange filing late Monday.
Revenue in 2019 rose 15% to CNY28.39 billion, the company said.
Shanghai Fosun Pharmaceutical said it ramped up research investment, with total research and development expenditures up 38% at CNY3.46 billion. It said it would increase R&D spending in 2020.
Write to Ben Otto at [email protected]
(END) Dow Jones Newswires
March 30, 2020 21:49 ET (01:49 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
