Tuesday, 6 November 2007

Sihuan

* Strong demand and improved margins lift Sihuan’s 3Q07 net profit by 122% to RMB43.5M.

*3Q07 sales growth of 83% driven mainly by cardiocerebral vascular (CV) drugs Kelinao and Chuanqing

* New CV product Anjieli continues to gain market share

* Expects pipeline of new drugs to come onstream in next 12 months to drive medium term growth

Singapore, 6 November 2007 – Mainboard-listed Sihuan Pharmaceutical Holdings Group Ltd (四环医药控股集团有限公司or “Sihuan”), a leading manufacturer of cardiocerebral vascular (CV) drugs in the PRC, reported a sterling set of results for the quarter ended 30 September 2007 (3Q07) due to improved profitability and wider acceptance of its products, especially Kelinao, Chuanqing and Anjieli, a new drug introduced only in 2Q07.

These three CV drugs largely lifted Group 3Q07 net profit attributable (PATMI) by 122% year-on-year (yoy) to RMB43.5 million on 83% higher sales of RMB71.7 million. With 570 more distributors covering 3,520 hospitals, sales of Kelinao and Chuanqing doubled to RMB55.1 million in 3Q07. In 3Q06, 980 distributors helped Sihuan reach 2,800 hospitals in 30 provinces, autonomous regions and municipalities in China. Sales of Anjieli rose 69% to RMB6.1 million in 3Q07 from 2Q07’s RMB3.6 million. “Although Kelinao remains a strong contributor to our bottomline, we are very encouraged by the strong take-up of Anjieli which was introduced only a few months ago,” said Dr Che Fengsheng (车冯升), Sihuan’s Executive Chairman and CEO.

No comments: