Jacobson Pharma profit climbs nearly 20% to $173.7m

This is despite the 8% revenue drop during the year ended March 2021.

Jacobson Pharma Corporation Limited reported its profit grew 19.4% to $173.7m in the year ended March 2021, amidst the pandemic.

The Group made a total revenue of $1.44b during the year, declining by 8% compared to the previous year.

Its generic drugs business segment recorded a revenue worth $1.04b, which was attributed to the steady growth in the public sector that was offset by a drop in sales momentum in the private sector.

Meanwhile, its branded healthcare business saw a 4.1% revenue growth to $397.1m.

“Although market situations have been challenging, the Group has remained steadfast in delivering its growth strategies and fortifying its leadership in the generic drugs market in Hong Kong,” Derek Sum, chairman and CEO of Jacobson Pharma, said.

The Group declared a final dividend of HK1.5 cents per share. In total, the Group has distributed HK17.3 cents per share divided during the year, compared to HK4.5 cents per share in the previous year.

During the year, the Group managed to successfully spin-off and separately list its branded healthcare business, JBM Healthcare. The Group now holds 53.74% interest in JBM Healthcare, following the listing in February 2021.

The Group was also the official distributor of the Fosun Pharma/BioNTech Comirnaty vaccine in Hong Kong and Macau.