Yiling Pharmaceutical Releases Financial Report for Q1 2020, Covid-19 TCM Lianhua Qingwen Research and Achievements Drive Growth
SHIJIAZHUANG, China, May 6, 2020 /PRNewswire/ -- Yiling Pharmaceutical (002603.SZ) has released its financial report for the first quarter of 2020. In the March quarter, Yiling Pharmaceutical achieved a total operating revenue of CNY 2.334 billion (USD $329 million) with 50.56% growth year-on-year, with net profits attributable to shareholders increasing 51.88% year-on-year to CNY 438 million (USD $61 million).
Yiling Pharmaceutical also made significant strides in R&D in Q1. On January 10, Yiling Pharmaceutical received first prize in the State Council's National Science and Technology Progress Award, China's only award recognizing contributions to scientific and technological achievements under Medicine & Health category in the year. To date, the company has obtained over 586 patents, including 363 inventions, 10 utility models, and 213 designs -- setting the framework for long-term business growth. Yiling Pharmaceutical's patent success has been achieved due to its unique 5-in-1 operating model for active R&D, internal coordination and integration of company resources, and mutual promotion across key clusters. The model includes theory, clinical trials, scientific research, industry and teaching across Traditional Chinese Medicine (TCM), chemical drugs, and biological medicines.
"Our March quarter results demonstrate the power of Yiling Pharmaceutical's R&D model to deliver business outcomes. We look forward to harnessing our innovative, high-quality products to benefit more people worldwide, while also ensuring ongoing benefits for shareholders who have supported us," said Xiangjun Wu, GM at Yiling Pharmaceutical.
Yiling Pharmaceutical's Lianhua Qingwen Capsule (Granule) ("Lianhua Qingwen") -- a TCM mainly used for treating colds and influenza -- has made significant contributions to the company's growth in the first quarter of 2020. Following the pandemic outbreak, Yiling Pharmaceutical contacted key experts to conduct research into the efficacy of Lianhua Qingwen in the treatment of COVID-19. Experts at the State Key Laboratory of Respiratory Disease at Guangzhou Medical University found Lianhua Qingwen significantly inhibited the replication of the novel coronavirus in cells and the rise of inflammation caused by cells infected with COVID-19, as well as reduced intracellular expression level of viral particles. Through limiting inflammation, Lianhua Qingwen assists in controlling the development of the disease.
Lianhua Qingwen has seen remarkable success in overseas markets, due to its efficacy and Yiling Pharmaceutical's ongoing expansion plans. Lianhua Qingwen is the first Chinese-patented medicine to enter FDA clinical trials for the treatment of influenza, and is currently undergoing Phase II trials to evaluate efficacy and safety. Lianhua Qingwen has also been granted marketing authorization in 8 countries including Brazil, Indonesia, Canada, Mozambique, Ecuador, Laos, and Romania and Singapore.
Yiling Pharmaceutical also promotes the industrialization of TCM with innovative treatments, such as Western medicine, biological medicine, and other health products. The company has developed 10 national patent TCM treatments, with an additional 13 pending clinical approval, 20 in pre-clinical approval, and hundreds in progress for the treatment of cardiovascular and cerebrovascular diseases, cold and respiratory diseases, tumors, and diabetes. Yiling Pharmaceutical also ensures high levels of production quality: its TCM production line has been certified by the national GMP, and its chemical production workshop has been certified by the European Union GMP.
For more information, please visit: http://en.yiling.cn/
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