Rise in Chinese Medicine Maker's Share Price Eases After Cough Syrup Buying Spree in New York
Liao Shumin
DATE:  Feb 27 2018
/ SOURCE:  Yicai
Rise in Chinese Medicine Maker's Share Price Eases After Cough Syrup Buying Spree in New York Rise in Chinese Medicine Maker's Share Price Eases After Cough Syrup Buying Spree in New York

(Yicai Global) Feb. 27 -- Chinese traditional medicine maker Kingworld Medicines Group Ltd. [HKG:1110] saw its share price ease today after surging 25 percent in trading yesterday on high demand for its cough syrup in New York.

The Shenzhen-based firm closed at HKD1.55 in this morning's session, up 6.1 percent, after gains reached as high as 55 percent in trading yesterday before closing up 27 percent.

A Wall Street Journal report praising the product's effectiveness went viral last week, leading to bottles of Kingworld's Nin Jiom Pei Pa Koa syrup flying off the shelves in New York as demand skyrocketed.

A 300-milliliter bottle of the syrup, which dates back to China's Qing Dynasty, sells for around USD13 on Amazon's e-commerce site, which is more than double prices found in traditional pharmacies located in Manhattan's Chinatown. Third-party online sellers are said to charge up to USD70 for each bottle.

Kingworld derived 42.6 percent of total sales in the first half of last year from Nin Jiom Pei Pa Koa. 

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Keywords:   Kingworld Medicines Group,Nin Jiom Pei Pa Koa