In the company’s news Friday,
China Pharma Holdings Inc. announced its third-quarter results for the period ended September 30, 2008, marking significant increases in revenues and net income.
China Pharma posted a 52 percent increase in revenues, reported at $12.61 million, up from $8.29 million for the same quarter last year. The company attributes this to its expansion of marketing and promotional activities implemented to boost sales of existing products and the introduction of new ones. Revenue for the nine months ended September 30, 2008 rose 47% year-over-year.
“We are confident that our continued strong revenue growth for the third quarter of 2008 is a reflection of our focus on the largest segments of China’s pharmaceutical market, in disease areas of high incidence and high mortality. Our rapid growth is supported by the ongoing delivery of new products, product technology, and branding,” president and CEO Zhilin Li stated in the press release.
Net income for the third quarter rose 37 percent, posted at $4.25 million, or 10 cents per basic and diluted share, as compared to $3.08 million, or .08 cents per basic and diluted share for the same quarter in 2007; net income for the nine-month period was up 42 percent.
The company noted its edge in the pharmaceutical industry, fueled by its portfolio of competitive products.
“We are competitive within China’s highly fragmented pharmaceutical market due to our high margin and low cost business model, which is supported by our scalable manufacturing infrastructure and diverse product portfolio based on market demand. Our near-term strategy is to maintain rapid growth by investing in marketing and promotional activities to increase sales and market share, expanding distribution, and developing competitive new products,” Li stated.
China Pharma highlighted that the clinical trials of its novel antibiotic combination were approved by the SFDA. The company also said it has initiated efforts for AMEX listing and is planning a two-week tour in November to introduce itself to the investment community through conferences.
“I am looking forward to meeting with our current and potential investors, during my first visit to the U.S. I am eager to discuss our recent accomplishments, particularly those we have highlighted today. The success of PuSenOK as the only generic Aleve-D in China has significantly increased the brand recognition of China Pharma Holdings, which we expect to benefit our current and future products on the market,” Li stated.
“We are also actively advancing our research and development pipeline, as demonstrated by the recent initiation of clinical trials for our novel antibiotic combination. The company’s sustained development strategy is to focus on specific markets and strengthen our competitive advantages through the further development of products technology and brand creation, and by deepening the penetration of our distribution network while taking full advantage of growth opportunities emerging from China’s recent healthcare reforms,” he continued.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
