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
- 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
|SOURCE Dragon Pharmaceutical Inc.|
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