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Haisco Pharma's H1 Profit to Skyrocket to Up to 575%; Shares Up 3%

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Haisco Pharmaceutical (SHE:002653) expects its net profit attributable to shareholders in the first half to skyrocket by between 513% and 575% to a range of 790 million yuan to 870 million yuan, according to a Shenzhen bourse filing on Thursday.

The attributable profit a year earlier was 128.8 million yuan.

Earnings per share are expected to be between 0.71 yuan and 0.78 yuan, higher than the previous year's EPS of 0.12 yuan.

The forecast was attributed to the growth of drug sales and an increase in licensing revenue after entering into multiple out-licensing agreements.

The pharmaceutical company's shares rose 3% during the midday trade.

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