Lianyugang-based Hansoh Pharmaceutical Group Company Limited applied on Thursday to issue shares in Hong Kong, with Morgan Stanley (NYSE:MS) and Citigroup (NYSE:C) named as joint sponsors, according to a company statement at the Hong Kong Stock Exchange (HKEx).
Established in 1995 and backed by Chinese female billionaire Zhong Hui-juan, Hansoh’s income rose from RMB 5.045 billion ($740 million) in 2015 to RMB 6.186 billion ($900 million) in 2017, while its gross profit margin stood at 92.6% last year.
The company features R&D and production of anti-tumor and psychoactive drugs. Its olanzapine tablets, targeting schizophrenia and bipolar disorder, account for a 68.4% share of the olanzapine market in China and RMB1.85 billion ($270 million) sales for Hansoh in 2017.
The firm’s second biggest product, chemotherapy drug pemetrexed, also made up 42.6% of the market share in China, generating RMB 1.19 billion ($170 million) of sales for the company in 2017.
