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3SBio Inc. Announces Second Quarter 2008 Results
Date:8/12/2008

on).

-- Net income decreased 0.9% over the first half of 2007 to RMB39.1

million (US$5.7 million).

-- Net income per ADS for the first half of 2008 was RMB1.80 (US$0.26)

compared with RMB1.96 for the first half of 2007.

Dr. Jing Lou, chief executive officer of 3SBio, commented, "We are very pleased with the steady top-line growth of our key products throughout the first half of 2008. Based on positive market trends and the continued strong market demand we are experiencing for our products we remain confident in our ability to continue to execute on our business plan. Based on these factors and our performance in the first half of this year, we are raising our revenue guidance for the full year 2008 from US$30-$32 million to US$34-$35 million. In addition to the progress made towards our full year financial goal, we have also made significant progress on the business development front, notably, the initiation of a strategic partnership with AMAG Pharmaceuticals, Inc. to develop and commercialize ferumoxytol and the rapid progression of our phase III programs in our portfolio."

Second Quarter 2008 Unaudited Financial Results

Net Revenues. Our net revenues amounted to RMB59.6 million (US$8.7 million) in the second quarter 2008, compared to RMB43.1 million for the second quarter 2007, representing an increase of 38.4%. Net revenues from EPIAO increased by 23.7% from RMB30.0 million in the second quarter 2007 to RMB37.1 million (US$5.4 million) in the second quarter 2008. Net revenues from TPIAO increased 66.9% over the second quarter 2007 from RMB9.6 million to RMB16.1 million (US$2.3 million). Our TPIAO products remained our second largest revenue contributor, accounting for 27.0% of total net revenues for the second quarter 2008 as compared with 22.3% in the second quarter 2007. In addition, revenue from our export business was RMB2.8 million (US$0.4 million), representing an increase of 70.5% over the second quarter
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SOURCE 3SBio Inc.
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