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Dragon Pharmaceutical Reports Growth in Sales and Profits during Second Quarter of 2007
Date:8/19/2007

e same period of last year to $2.38 million. The Company obtained three new customers in China and three in India during the quarter, which is expected to provide a good foundation for the continuous growth during the third quarter.

The revenue growth of the Pharma Division was also significant. Total sales reached $3.67 million, representing an increase of 96% sequentially from the first quarter and 134% from the same period of 2006.

Significant increase in Gross Profit

During this quarter, the Company increased its production level and achieved a utility rate of 91% for 7ACA and 90% for Clavulanic Acid, and the unit cost for 7ACA dropped by 12% as compared to prior year period. The gross profit and gross margin increased to $3.98 million and 19.36% as compared to $2.39 million and 17.24% for the same period of 2006.

"We are glad that the Company delivered very strong growth in this low summer season," said Mr. Yanlin Han, Chairman and CEO of the Company, "We believe the same growth drivers from the market and customers will be stronger for the rest of this year. With strengthened competitive advantages, management believes that we can achieve continuous growth in business and profitability."

The Company is also pleased to announce the results of the Annual Shareholders Meeting which was held on August 13, 2007 in Datong, China.

The shareholders have re-elected the following eight members as the Board of Directors of the Company: Mr. Yanlin Han, Dr. Alexander Wick, Mr. Zhanguo Weng, Dr. Yiu Kwong Sun, Ms. Xuemei Liu, Mr. Peter Mak, Dr. Heinz Frey, and Mr. Jin Li.

This press release contains forward looking statements, including but not limited to, that the Company will be able to improve its product quality and efficiency, that it will continue to experience growth in sales of Clavulanic Acid, and that it will continue to achieve continuous growth in business and profitability in the near future. These statements are subjec
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SOURCE Dragon Pharmaceutical Inc.

Copyright©2007 PR Newswire.

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