3SBio Inc. Announces Unaudited Fourth Quarter and Fiscal Year 20...(al year 2008 was mainly attributable to ...)

Date:3/11/2009

al year 2008 was mainly attributable to research and development expenses associated with the number of clinical tests conducted and the continued development of other pipeline products. -- Sales, marketing and distribution expenses (non-GAAP). Adjusted Sales, marketing and distribution expenses for the fourth quarter were RMB38.0 million (US$5.6 million) and RMB118.8 million (US$17.4 million) for the full year, excluding share-based compensation expense. This was an increase of 67.4% and 41.1% from adjusted expenses of RMB22.7 million (US$3.1 million) and RMB84.2 million (US$11.5 million) in the fourth quarter and full year of 2007 respectively. The increase was primarily attributable to higher sales activities in general, continued investment in building the TPIAO brand and EPIAO penetration of the Oncology market. -- General and administrative expenses (non-GAAP). Adjusted general and administrative expenses for the fourth quarter were RMB5.1 million (US$0.8 million) and RMB28.4 million (US$4.2 million) for the full year, excluding share-based compensation expense. This was a decrease of 28.6% and an increase of 63.1% from adjusted general and administrative expenses of RMB7.2 million (US$1.0 million) and RMB17.4 million (US$2.4 million) in the fourth quarter and full year of 2007 respectively. The increase in general and administrative expense in fiscal year 2008 was primarily attributable to compliance cost associated with being a public company and increase of management personnel.

In the fourth quarter of 2008, total GAAP operating expenses increased by 67.8% to RMB56.7 million (US$8.3 million) as compared to the same period in 2007. In 2008, total GAAP operating expenses increased by 52.1% to RMB173.7 million (US$25.5 million) from RMB114.2 million (US$15.7 million) in
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SOURCE 3SBio Inc. Copyright©2009 PR Newswire. All rights reserved

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