August 15 -- Shanghai Pharmaceuticals Holding (601607.SH,2607.HK) posted a 65.69 percent year-on-year increase in first half 2011 net profit to 1.303 billion yuan, reports Yicai.com, citing a company filing.

Sales revenue rose 36.1 percent year-on-year to 25.21 billion yuan due to the higher sales of medical products.

According to Shanghai Pharma, production cost will increase in the second half due to the difficulty in obtaining financing.

The drugmaker said it may lose more market share due to hospitals implementing a tender policy. Shanghai Pharma will reduce expenses on two projects.

Source:capitalvue.com