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Shanghai Allist Pharmaceuticals Projects H1 Profit, Revenue Growth; Shares Drop 6%

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Shanghai Allist Pharmaceuticals (SHA:688578) forecasted first-half attributable net profit of 1.54 billion yuan, an increase of 46% from 1.05 billion yuan the previous year.

Operating revenue is expected to rise 39% year over year to 3.31 billion yuan from 2.37 billion yuan, according to a Friday filing with the Shanghai bourse.

The growth is driven by increased revenue from its core oncology products as they benefited from national medical insurance coverage and differentiated clinical advantages.

Shares of the company were down 6% in recent trade.

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