3SBio Inc. Announces Unaudited Fourth Quarter and Fiscal Year 20...(ition. Adjusted non-GAAP operating incom...)

Date:3/11/2009

ition. Adjusted non-GAAP operating income was RMB6.3 million (US$0.9 million) for 2007. GAAP operating loss was RMB2.3 million (US$0.3 million) for the quarter. -- Adjusted non-GAAP net income was RMB11.3 million (US$1.7 million), compared to adjusted non-GAAP net income of RMB15.3 million for 2007. GAAP net loss for the quarter was RMB1.5 million (US$0.2 million). -- Adjusted non-GAAP earnings per ADS were RMB0.52 (US$0.08), compared to RMB0.70 (US$0.10) in fourth quarter of 2007. GAAP loss per ADS was RMB0.07 (US$0.01) for the fourth quarter of 2008. * Please refer to "Reconciliation Tables of GAAP to adjusted Non-GAAP Figures" at the end of this press release. Adjusted (Non-GAAP) items for the three- and twelve-month periods ended December 31, 2007 have been revised to conform to the current year's presentation basis. Fiscal Year 2008 Business Highlights: -- EPIAO, the Company's flagship injectable recombinant human erythropoietin ("EPO") products, continued to outpace EPO market growth in China. Net revenue from EPIAO increased 32.0% year-over-year in the fourth quarter of 2008 to RMB39.3 million (US$5.8 million), and increased 27.5% to RMB154.6 million (US$22.7 million) for the full year 2008, as 3SBio further enhanced its market leadership position, with 41.1% of EPO market share according to fourth quarter 2008 IMS data. -- The high quality of EPIAO, a key factor contributing to EPIAO's success and leading market position in China, was further validated by a study sponsored by Amgen. The study shows that among 12 EPO products manufactured in Asia, 3SBio's EPIAO has the biophysical and biochemical properties that most resemble Epogen. The article was published in the Journal of Pharmaceutical Sciences in July, 2008. -- TPIAO, the Company's protein-based therapeuti
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SOURCE 3SBio Inc. Copyright©2009 PR Newswire. All rights reserved

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