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Dragon Pharma announces 2007 full year financial results
Date:3/31/2008

VANCOUVER, March 31 /PRNewswire-FirstCall/ - Dragon Pharmaceutical Inc. ("Dragon" or the "Company" TSX: DDD; OTCBB: DRUG; BBSE: DRP), a leading international pharmaceutical company, today announced its financial results for the fiscal year ended December 31, 2007.

2007 Full Year Financial Highlights:

- Sales increased 63.7% to $85.8 million from $52.4 million in 2006

- Chemical Division's sales increased 50.4 % to $68.9 million from

$45.8 million in 2006.

- Pharma Division's sales increased 156% to $16.9 million from

$6.6 million in 2006.

- Gross profit increased 115% to $17.8 million from $8.25 million in

2006

- Gross margin increased to 21% from 16% in 2006.

- Chemical Division's gross margin rose to 28% from 20% in 2006.

- Pharma Division's gross margin was -9%, improved from -13% in

2006.

- Net income from continuing operations was $4.9 million or $0.08 per

share, increased from a loss of $0.9 million or ($0.01) per share in

2006.

- Net loss from discontinued operations was $2.4 million or ($0.04) per

share, compared to an income of $5.4 million or $0.08 per share in

2006.

2007 Full Year Operational Highlights:

- Dragon sold its EPO business to fully focus on its core antibiotic

business that has showed significant growth in the past few years.

- Under the favorable market conditions, the Company further increased

its production level and achieved a utilization rate of 95% for 7-ACA

production and 62% for Clavulanic Acid production.

- An enzymatic technology has been successfully adopted for the

production of 7-ACA, which will lower the production costs by

approximately 10% and additionally reduce the amount of capital

investment pertaining to environment issues.

- Dragon
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SOURCE Dragon Pharmaceutical Inc.
Copyright©2008 PR Newswire.
All rights reserved

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