Consumer China

Sinopharm - a new contender

  • Published 20 Aug 2009

China's largest pharmaceutical distributor and importer awaits the green light to list in Hong Kong.

Sinopharm Holdings' intended listing on the Hong Kong stock market is eagerly awaited. The company is China's largest pharmaceutical distributor and importer of medical devices, and recorded net profits of Rmb 610m ($89.2m, €63.5m, £54.8m) in 2008 on sales revenues of Rmb 38.1bn. It is majority owned by state-run China National Pharmaceutical Group, the country's largest pharmaceutical conglomerate. China National incorporates research and production and is responsible for the national centralised pharmaceutical reserves, and for allocating and supplying emergency and relief medicines. Sinopharm's remaining 43% stake is owned by Shanghai Fosun Pharmaceutical (600196:SHA), a unit of Hong Kong-listed conglomerate Fosun International (0656:HKG).

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