Pharmaceutical company enjoy great results in 2020 despite COVID-19
Social distancing and strict control at hospitals, and an economic recession due to COVID-19, resulted in lower sales of both prescription and non-prescription drugs. However, many companies still witnessed outstanding performance.
One of Traphaco's nasal drops production lines (Photo: suckhoedoisong.vn)
Hanoi (VNS/VNA) - Social distancing and strict control at hospitals, andan economic recession due to COVID-19, resulted in lower sales ofboth prescription and non-prescription drugs. However, many companiesstill witnessed outstanding performance.
In the fourth quarter financial results, Central Pharmaceutical JSC No3 (DP3)reported a gain of eight percent year-on-year in net revenue, but itsprofit after tax was 11.6 times higher than that in 2019 to 38.2 billion VND.
The good result was due to a strong increase in financial activitiesincome (up 15.2 times), and a decrease in interest expenses (down 20.7 percent)and other expenses (down nearly 70 percent).
Last year, the company’s profit after tax was 114.05 billion VND, 13 timeshigher than that of 2019.
Imexpharm Corporation (IMP)’s net revenue in the last quarter of 2020 dropped5.6 percent year-on-year to 478 billion VND. But a decline in costs of goodssold (nearly 12 percent), general and administrative expenses (52.4 percent)and other expenses (70.5 percent) helped its profit after tax rise against thesame period of 2019.
Imexpharm saw an increase of 35.3 percent in profit after tax in the fourthquarter of last year to nearly 70.4 billion VND. For the whole of 2020, itsprofit after tax rose over 29 percent to 209.7 billion VND.
Another drug company seeing good performance last year was Traphaco JSC (TRA).In the fourth quarter, Traphaco posted a rise of 11.6 percent in revenue toover 602 billion VND. Its profit after tax increased by 20.1 percent to 75.3billion VND in the same period.
In 2020, the company’s profit after tax climbed nearly 27.2 percent to 216.75billion VND.
Similarly, DHG Pharmaceutical JSC (DHG)’s profit after tax increased by 2.76 percentyear-on-year to 209.5 billion in the last quarter of 2020. Its profit after taxalso rose slightly by 1.2 percent to 738.5 billion VND in 2020.
Even though seeing a decrease of 11.3 percent in the last quarter lastyear, Binh Dinh Pharmaceutical and Medical Equipment JSC(DBD)'s profit after tax still posted a gain of 14.4 percent for thewhole year./.
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One of Traphaco's nasal drops production lines (Photo: suckhoedoisong.vn) 
