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    600196   CNE000000X38

SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.

(600196)
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Shanghai Fosun Pharmaceutical's H-Shares Head for Biggest Fall Since Listing

05/05/2021 | 10:55pm EDT

By Ronnie Harui

Shares of Shanghai Fosun Pharmaceutical (Group) Co. and other Asia-based pharmaceutical companies tumbled Thursday after the U.S. said it would support a temporary waiver of intellectual property rights of Covid-19 vaccine makers, a move that could allow other companies to produce versions of the vaccines.

The Hong Kong-listed shares of Fosun Pharma, which distributes the vaccines developed by BioNTech SE in the Greater China region, fell as much as 26% in morning trade. Shares were last down 18% at 46.10 Hong Kong dollars, on pace for their biggest one-day drop since the company's initial public offering in 2012.

Shares of other Hong Kong-listed Covid-19 vaccine makers also slumped, with CanSino Biologics Inc. falling 21% to HK$289.00 and Sinopharm Group Co. dropping 10% to HK$23.15. In China, Fosun Pharma's A-shares were down 10% at 54.22 yuan.

The plunges tracked declines in the Chinese companies' American counterparts after the U.S. said it would support a proposal working its way through the World Trade Organization. Such a policy would waive the IP rights of vaccine makers to potentially enable companies in developing countries and others to manufacture their own versions of Covid-19 vaccines. The U.S. cited an urgent need to stem the pandemic.

Fosun Pharma's decline also follows a 20% jump in the share price Monday after the company posted a 47% rise in first-quarter net profit, largely because of higher drug sales and a low base of comparison due to the onset of the Covid-19 pandemic a year ago. Shares touched a record intraday high of HK$62.50 Tuesday and are up 24% this year and 62% over the past 12 months.

Write to Ronnie Harui at ronnie.harui@wsj.com

(END) Dow Jones Newswires

05-06-21 0055ET

Stocks mentioned in the article
ChangeLast1st jan.
BIONTECH SE -0.75% 227.79 Delayed Quote.179.43%
CANSINO BIOLOGICS INC. 1.54% 421 End-of-day quote.138.53%
DJ INDUSTRIAL 0.95% 34196.82 Delayed Quote.10.68%
SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD. -0.29% 68.21 End-of-day quote.26.34%
SINOPHARM GROUP CO., LTD. -1.92% 23 End-of-day quote.21.95%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.05% 6.4649 Delayed Quote.-0.42%
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Financials
Sales 2021 40 603 M 6 281 M 6 281 M
Net income 2021 4 327 M 669 M 669 M
Net Debt 2021 16 835 M 2 604 M 2 604 M
P/E ratio 2021 40,6x
Yield 2021 0,73%
Capitalization 164 B 25 309 M 25 337 M
EV / Sales 2021 4,45x
EV / Sales 2022 4,08x
Nbr of Employees 32 258
Free-Float 58,8%
Chart SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.
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Technical analysis trends SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.
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TrendsNeutralBullishBullish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 68,21 CNY
Average target price 52,62 CNY
Spread / Average Target -22,9%
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Managers and Directors
NameTitle
Xiao Hui Guan Executive President & Chief Financial Officer
Yu Qing Chen Co-President
Ke Xin Wang Co-President
Dong Ming Li Co-President
Yi Fang Wu Chairman
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