Drugs distributor and pharmacy services firm Sigma Pharmaceuticals will expand its Chinese online business to Hong Kong and is considering further growth in Asia.
Sales through the Chinese Amcal pharmacy website have been "many millions of dollars" above expectations, chief executive Mark Hooper said.
"While that's been mainly focused on mainland China, we will push that into Hong Kong," he said.
"We are starting to think about whether this might be a model we can roll out elsewhere."
Sigma launched the website in mid-2016, partnering with Chinese marketing and e-commerce company Azoya to aggregate orders and deliver its products.
Sigma made a net profit of $53.2 million in the year to January 31, up five per cent on the prior year.
Revenue rose 26 per cent, partly due to sales of hepatitis C drugs after they were listed on the Pharmaceutical Benefits Scheme (PBS) in March 2016.
Hepatitis C drug sales accounted for about 15 per cent of Sigma's total sales, and Mr Hooper said revenue from those drugs is likely to ease over the next 12 months.
"The overseas experience with Hep C drugs is that it peaks about 12 to 18 months in, and then it tails off," he said.
Sigma said its supply of pharmaceuticals to hospitals continues to build, with a 20 per cent market share in Victoria, more than 30 hospitals now trading with Sigma in NSW, and the company set to push into Western Australia.
Sigma confirmed that it expects at least five per cent growth in underlying earnings in 2016/17, after achieving 12 per cent growth in 2015/16.
The company will also extend a share buyback scheme to include a further 10 per cent of shares on issue.
Sigma shares gained three cents to $1.23.
HEP C DRUGS HELP BOOST SIGMA'S PROFIT
* Full-year net profit up 5.3pct to $53.2m
* Revenue up 26.2pct to $4.4bn
* Final dividend steady at 3 cents, fully franked
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