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Shinpoong Pharmaceutical (019170 KS): Widening Operating Loss; COVID Drug Loses Steam
267 Views10 Apr 2023 23:04
SUMMARY
- Shinpoong Pharmaceutical (019170 KS) recorded operating loss of KRW34 billion in 2022 from operating loss of KRW14 billion in 2021 and an operating profit of KRW8 billion in 2020.
- Shinpoong is investing heavily on R&D, which is taking a toll on its financial health. During 2022, R&D expenses accounted for 21% of total revenue, up from 16% in 2021.
- The company is revising phase 3 trial plan for anti-malarial drug Pyramax as COVID-19 treatment. Even if Pyramax succeeds to get approval, the drug is expected to have limited uptake.
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Tina Banerjee
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