Revenue Guidance with Q3 2008 Forecasts Growth of More Than 40%
NEW YORK and HAIKOU CITY, Hainan, China, Sept. 18 /Xinhua-PRNewswire- FirstCall/ -- China Pharma Holdings, Inc. ("China Pharma") (OTC Bulletin Board: CPHI) which develops, manufactures, and markets generic and brand bio-pharmaceutical products in China, announced today that it projects the 3rd Quarter 2008 revenue growth to exceed 40%.
According to recent sales figures, China Pharma is adjusting its projected Q3 revenue growth upwards to between 40% and 45%.
Ms. Zhilin Li, President and CEO of China Pharma, commented, "We are very pleased that the sales this quarter have exceeded our prediction. This reflects the expansion of our sales force and our continued efforts to increase penetration of our distribution network."
Ms Li continued, "The global capital markets are experiencing a downturn, and the Chinese economy is also tending towards a decline. Our share price has suffered, however we are able to take advantage of the company's very stable platform for growth and continue our good performance. We believe revenue and earnings will maintain continued long-term growth and that this is the best reward for investors. We consider this a good opportunity to communicate and share our confidence on the company outlook with our fellow shareholders."
About China Pharma Holdings, Inc.
China Pharma Holdings, Inc. develops, manufactures, and markets off-patent brand bio-pharmaceutical products in China that treat a wide range of conditions, including, cardiovascular and CNS diseases, infections, liver disease and other prevalent diseases. Helpson Bio-pharmaceutical Co., Ltd. (Helpson), a specialty pharmaceutical company headquartered in Haikou City, Hainan province in China, is a wholly owned subsidiary of China Pharma Holdings. For more information about China Pharma Holdings, Inc., please visit http://www.chinapharmaholdings.com .
Safe Harbor Statement:
Certain statements in this press release and oral statements made by
China Pharma on its conference call in relation to this release, constitute
forward- looking statements for purposes of the safe harbor provisions
under The Private Securities Litigation Reform Act of 1995. Any statements
set forth above that are not historical facts are forward-looking
statements that involve risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking statements,
which may include, but are not limited to, such factors as unanticipated
changes in product demand, increased competition, failure to obtain or
maintain intellectual property protection, downturns in the Chinese
economy, uncompetitive levels of research and development, failure to
obtain regulatory approvals, and other information detailed from time to
time in the Company's filings and future filings with the United States
Securities and Exchange Commission. The forward-looking statements made
herein speak only as of the date of this press release and the Company
undertakes no duty to update any forward-looking statement to conform the
statement to actual results or changes in the company's expectations.
For more information, please contact:
China Pharma Holdings, Inc.
|SOURCE China Pharma Holdings, Inc.|
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