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

continued to be the third largest producer and largest

exporter of 7-ACA and the dominating market leader of Clavulanic Acid

in China, with total sales volume of 568 tons for 7-ACA and 39 tons

for Clavulanic Acid.

- With a more focused antibiotic product portfolio and effective

marketing strategies, the Company has substantially expanded its

market share and realized an increase in sales quantity and sales

revenue of 128% and 156% respectively for its formulation drugs in

the Chinese market.

- Subsequent to the year end of 2007 and as previously announced, the

Company increased its annual production capacity for 7-ACA and

Clavulanic Acid by 30% and 56% respectively in order to meet rising

customer demand.

- Two new antibiotic products, Ceftazidime and Cefalexin, have been

successfully launched into the Chinese market.

Results for the Year Ended December 31, 2007

During 2007, the Company made a strategic decision to sell its EPO Division and fully focus on its chemical and formulation businesses that have shown significant growth since establishment in 2004. Dragon's efforts have successfully increased its sales, productions and profits for both the Chemical Division and Pharma Division. In the full year 2007, the total sale revenues reached $85.8 million, representing an increase of 63.7% from $52.4 million recorded for the full year 2006.

The Chemical Division continued to be the main growth driver and contributed 80% of the revenues for the Company in 2007. 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. As the strong demand pushed up the market price for 7-ACA, the Company realized 568 tons of sales, an increase of 27% compared with 448 tons of sales for the same period of
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SOURCE Dragon Pharmaceutical Inc.
Copyright©2008 PR Newswire.
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