NANJING, China, March 12 /PRNewswire-Asia/ -- Simcere Pharmaceutical Group ("Simcere" or the "Company') (NYSE: SCR), a leading manufacturer and supplier of branded generic pharmaceuticals and manufacturer of the patented anti-cancer biotech product Endu in China, today reported unaudited financial results for the quarter and fiscal year ended December 31, 2008.
Highlights -- Total revenue increased to RMB 466.9 million (US$68.4 million) for the fourth quarter of 2008, representing 17.1% year-over-year growth; for the full year of 2008, total revenue was RMB 1,741.1 million (US$255.2 million), an increase of 27.2% from RMB 1,368.7 million for the full year of 2007; -- Income from operations was RMB 72.7 million (US$10.6 million) for the fourth quarter of 2008, compared to RMB 73.2 million for the corresponding period in 2007. For the full year of 2008, operating income was RMB 357.0 million (US$52.3 million), an increase of 35.3% from RMB 263.9 million for the full year of 2007; -- Net income was RMB 51.7 million (US$7.6 million) for the fourth quarter of 2008, representing 33.8% year-over-year decrease; for the full year of 2008, net income was RMB 350.2 million (US$ 51.3 million), an increase of 16.2% from RMB 301.3 million for the full year of 2007; -- Gross margin for the fourth quarter of 2008 increased to 83.1%, compared to 82.2% for the corresponding period in 2007. For the full year of 2008, gross margin was 81.6%, compared to 82.4% in 2007.
Mr. Jinsheng Ren, Chairman and Chief Executive Officer of Simcere
Pharmaceutical Group, commented: "We are pleased that Simcere achieved overall
steady growth in 2008. While the sales growth of Endu has remained below our
expectations, both Bicun and Y
|SOURCE Simcere Pharmaceutical Group|
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