QualityStocks would like to highlight China Pharma Holdings Inc. (AMEX: CPHI). China Pharma Holdings is a rapidly growing specialty pharmaceutical company that develops, manufactures and markets a diversified portfolio of products focused on conditions with a high incidence and high mortality rates in China, including cardiovascular, CNS, infectious, and digestive diseases.
In the company’s news Friday,
China Pharma Holdings Inc. announced its financial results for the quarter ended September 30, 2011.
The company reported a 12 percent increase in third quarter 2011 revenue to $21.0 million compared to $18.7 million in the comparable quarter of 2010.
Net income for the third quarter of 2011 was $3.3 million, or $0.08 per basic and diluted share, compared to $5.9 million, or $0.14 per basic and diluted share, in the third quarter of 2010.
China Pharma reported operating income of $3.9 million in the third quarter of 2011, down 37 percent from $6.2 million in the third quarter of 2010.
“In the third quarter of 2011 we achieved solid sales growth primarily due to strong performances by our Anti-Viro Infection & Respiratory and our Digestive product categories. We continue to face pricing pressures across many of our products during the quarter, but we expect gross margin and revenue to benefit from new product launches in the months and quarters ahead,” Zhilin Li, China Pharma’s chairman and CEO stated in the press release. “In addition to the expected launch of new products such as Candesartan and Rosuvastatin, we continue to advance our novel cephalosporin-based combination antibiotic through phase II clinical trials. Commercializing exciting new drugs like this, along with first-to-market generic medicines, is an important part of our strategy to enhance China Pharma’s growth and profitability.”
In terms of gross margins by major categories, the company reported CNS Cerebral & Cardio Vascular category margin at 43.4 percent, a decrease compared to the third quarter 2010 gross margin of 44.5 percent. Gross margin for the company’s Anti-Viro/Infection & Respiratory category decreased to 23.7 percent compared to 28.3 percent in the period one year ago. Gross margin for the Digestive Diseases category decreased to 44.7 percent compared to the prior year third quarter’s 52.5 percent.
As of September 30, 2011, the company had cash and cash equivalents of $4.9 million compared to $3.7 million as of December 31, 2010.
As of September 30, 2011, China Pharma had nine pipeline drugs in different stages of active development.
About QualityStocks
QualityStocks, based in Scottsdale, Arizona, is a free service that collects data from hundreds of Small-Cap and Micro-Cap online Investment Newsletters into one Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their investor communication efforts and connecting subscribers with companies that have huge potential to succeed in the short and long-term future.
To sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net
Please see disclaimer on QualityStocks website: http://Disclaimer.QualityStocks.net
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.
