(Yicai Global) Feb. 3 -- Chinese residents' soaring demand for cold and cough medicines after the easing of Covid-19 restrictions in December is starting to show in drug suppliers' earnings.

The 10 Chinese producers of flu medicines that have released their 2022 earnings outlooks have all improved their profitability, Yicai Global learned. Nine out of the 10 firms are anticipated to surpass their 2019 profit levels, a time before the pandemic.

In the list of 10, Jiaying Pharmaceutical is getting better fastest as its net profit could surge as much as 34 times from 2021. Fangsheng Pharmaceutical estimates as big as a fourfold boost in net profit while Goldstone Asia Pharmaceutical may have logged a threefold increase.

Major drug developer Yiling Pharmaceutical expects its net profit to have reached a maximum of CNY2.4 billion (USD360 million) last year, an increase of 80 percent from 2021. Bailing Group Pharmaceutical also predicted an over 60 percent uptick. Four of the remaining five companies are expecting up to 20 percent growth. The last one anticipated a change of status to turn profitable.

The performance boost is caused by rising demand for cold and cough medicines after the pandemic prevention and control policy was adjusted in December. The move was a boon for some firms such as Teyi Pharmaceutical Group had even recorded net profit declines in the first three quarters of last year.

Guizhou-based Bailing staged the most impressive reversal. From January to September, its net profit fell by 17 percent from a year ago but its annual figure could rise as much as 61 percent. After the policy change in December, sales of Bailing's eight categories of drugs to treat symptoms of cold, cough, fever, and throat disorders all greatly increased compared to the same period of 2021, the seller of capsules and syrups said. 

Chengdu-based Goldstone revealed that demand for the company's main product, Kuaike Compound Aminolandamine Capsules jumped in December, prompting the firm to significantly boost its output of the cough medicine.

Editors: Tang Shihua, Emmi Laine, Xiao Yi