TOKYO -- China's hunger for infrastructure investment helped create some of the biggest gainers in the A300 rankings, while Indian pharmaceutical companies dropped significantly as they wrestled with regulatory scrutiny and price competition in the U.S.
Bumi Serpong Damai, Indonesia's largest property developer by market capitalization, reported a net profit of 4.92 trillion rupiah ($342.7 million) last year, a 173% increase from a year earlier. That catapulted the company -- which is tied to Indonesia’s powerful Widjaja family -- from 35th in the 2016 rankings to third place.
Analysts at IndoPremier, a local brokerage, attributed the jump to one-off land plot sales -- including a 1.4 trillion rupiah sale to Chinese real estate developer China Fortune Land Development, a deal that contributed to a nearly threefold rise in BSD's commercial land sales. The company's core residential business, however, was lackluster.
Chinese cement maker Anhui Conch Cementrose from 129th to 17th. The company's net profit for 2017 increased by more than 80% on the year. Analysts attribute the jump to rising cement prices sparked by Beijing's effort to curb excess supply. The company announced on July 9 that it expects a net profit rise of 80-100% for the first half of 2018.
Another standout was Celltrion, a South Korean producer of biosimilars -- a near-identical copy of an original drug manufactured by a different company once the patent for the original has expired. The company jumped to seventh place in 2017 from 56th a year ago.
The Incheon-based company posted 399.3 billion won ($356 million) in net profit last year, more than double from a year ago, while sales rose 41.5% to 949 billion won. The company attributed this to the success of Remsima, its trademark treatment for rheumatoid arthritis and other autoimmune diseases. In Europe, the market share of Remsima grew to 52% in the fourth quarter of 2017, surpassing that of Remicade, an original drug produced by Janssen of the U.S.
"Celltrion's brand value has increased significantly in Europe thanks to Remsima, which hit the market three years ago,” said Celltrion Healthcare, a marketing affiliate of the company.
On the flip side, the top drugmakers in India were among the biggest losers in the Asia300 ranking.
Courtesy of asia.nikkei.com