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3SBio Inc. Announces Unaudited Fourth Quarter and Full Year 2009 Results
Date:2/11/2010

or our core products, we anticipate achieving a 2010 total net revenue target of between US$56 million to US$58 million, representing approximately a 20-25% increase over 2009."

Full Year Ended December 31, 2009 Unaudited Financial Results

Net revenues. Net revenues for 2009 increased by 30.3% to RMB316.9 million (US$46.4 million), from RMB243.2 million (US$35.7 million) in 2008. The increase was primarily attributable to increased sales from our EPIAO and TPIAO products, underpinned by continued strong demand in the oncology and nephrology markets.

Net revenues from EPIAO in 2009 increased by 26.9% to RMB196.1 million (US$28.7 million) from RMB154.6 million (US$22.7 million) in 2008. Net revenues from TPIAO in 2009 increased by 32.7% to RMB89.7 million (US$13.1 million) from RMB67.6 million (US$9.9 million) in 2008. In addition, revenue from our export business was RMB13.2 million (US$1.9 million), representing an increase of 59.4% over 2008, while revenue from IV Iron Sucrose was RMB10.7 million (US$1.6 million), representing an increase of 53.4% over 2008.

Gross profit. Gross profit for 2009 increased by 31.7% to RMB291.7 million (US$42.7 million) compared to RMB221.5 million (US$32.5 million) in 2008. Gross margin for 2009 increased to 92.0% c
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SOURCE 3SBio Inc.
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