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China Pharma Holdings, Inc. Reports Third Quarter 2009 Financial Results and Corporate Updates

HAIKOU CITY, China, Nov. 11 /PRNewswire-Asia-FirstCall/ -- China Pharma Holdings, Inc. ("China Pharma") (NYSE/AMEX: CPHI), which manufactures, and markets specialty pharmaceutical products in China, today announced financial results for the third quarter ended September 30, 2009.

    Third Quarter 2009 Financial Highlights

    -- Revenue increased 23.1% to $15.5 million from $12.6 million in the
       third quarter of 2008;

    -- Net Income, including adjustment in Bad Debt Estimates, was $7.2
       million, compared to $4.3 million in the third quarter of 2008;

    -- Year-to-Date Net Cash from Operations increased by 59% to $6.4 million
       compared to $4.0 million for the same period of 2008; and

    -- EPS was $0.17, compared to $0.10 in the third quarter of 2008.

For the three months ended September 30, 2009, we saw an increase of 23% in revenue to $15.5 million compared to the same period of last year. This is an increase of $2.9 million from the $12.6 million we generated in the corresponding period of 2008. Notably, third quarter sales in the Anti-Viro/Infection & Respiratory product category rose by 36% over the same period a year ago to approximately $6.1 million. Our CNS and Cerebral & Cardio Vascular drugs performed steadily by generating $5.6 million revenue during the third quarter, compared to $5.9 million in the same period of 2008. Our Other Products category (including our tumor drug Granisetron and various other products) saw an increase of 36% over last year to $2.3 million. Our Digestive product sales rose by 184% to $1.5 million, mainly due to the sales contribution from our new product Tiopronin. During this quarter we saw Tiopronin generating close to $800,000 in sales. This is progressing better than expected.

Gross Profit for the three months ended Septem

SOURCE China Pharma Holdings, Inc.
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