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3SBio Inc. Announces Unaudited First Quarter 2012 Results
Date:5/13/2012

i>Net revenues for Iron Sucrose Supplement increased by 40.6% to RMB6.8 million (US$1.1 million) in the first quarter of 2012, compared to RMB4.9 million (US$0.7 million) in the first quarter of 2011.  
  • Net export revenues increased by 80.3% to RMB7.6 million (US$1.2 million), compared to RMB4.2 million (US$0.6 million) in the first quarter of 2011. 
  • Regulatory

  • We continue to interact with the SFDA on pending submissions, including Feraheme registration trial, China arm of the global multi-center trial for voclosporin and phase 1 trial for NuPIAO, our second generation EPO product.  
  • Partnerships and Business Development

  • As announced on March 9, 2012, we have entered into a strategic collaboration with DaVita Inc., to operate dialysis centers in Northeastern China, as well as a nationwide supply agreement for EPIAO.
  • Dr. Jing Lou, chief executive officer of 3SBio, commented: 

    "We are on budget for the first quarter and reiterate our full year guidance of US$99-108 million. While we are concerned about government-mandated price cuts, we are confident that our economies of scale, recognized product quality and reputation for innovative research and development will enable us to continue to adapt to China's evolving health care reforms. We continue to focus on the implementation of the our business objectives for 2012, including continued focus on developing our pipeline products, new business initiatives in the dialysis service segment, seeking international partners to develop Uricase-PEG 20, and leveraging our world-class manufacturing capability to obtain approvals in countries where we can be among the first to introduce quality biosimilars at competitive prices."

    Three Months Ended March 31, 2012 Unaudited Financial Results Net revenues. Net revenues increased by 24.5% to RMB147.2 million (US$23.4 million)
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    SOURCE 3SBio Inc.
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