Navigation Links
Sinobiopharma Reports Highlights From Audited Financial Results for the Fiscal Year Ended May 31, 2009
Date:9/23/2009

NANTONG CITY, China, Sept. 23 /PRNewswire-Asia-FirstCall/ -- Sinobiopharma, Inc. ("Sinobiopharma" or the "Company") is pleased to report financial highlights from the audited financial results for the fiscal year ended May 31, 2009.

    Financial highlights include:
    -- Sales revenue increased to US$3,850,278 for the 12 months ended May 31,
       2009, from US$1,810,318 in the corresponding period ended May 31, 2008,
       a year-over-year increase of 112.69 percent.

    -- Gross profit increased to US$2,538,441, representing 66 percent of
       sales revenue, for the 12 months ended May 31, 2009, from US$580,915,
       representing 32 percent of revenue, in the corresponding period ended
       May 31, 2008.

    -- Net profit of the Company's wholly owned operating subsidiary, Dong
       Ying (Jiangsu) Pharmaceutical Co., Ltd., increased to US$1,019,507
       representing 26% of sales revenue, for the 12 months ended May 31, 2009,
       from -US$199,306 in the corresponding period ended May 31, 2008, a
       year-over-year increase of more than 400 percent.  However, the
       Company's overall net loss increased to US$2,140,237 for the 12 months
       ended May 31, 2009, of which one of the main expenses affecting the
       results of operations was the stock-based compensation charge of
       US$2,917,125, reflecting the vesting of stock options granted by the
       Company and professional fee of public company administration (audit,
       legal, etc.) of US$270,518.

    -- Increase in sales volume and the improvement in gross profit percentage
       are both due to growth in sales of Cisatracurium Besylate, a pre-
       surgical skeletal muscle relaxant.  Sales of this product increased to
       US$3,595,031 in the 12 months ended May 31, 2009, from US$1,364,165 in
       the 12 months ended May 31, 2008.  At the same time, as volume has
       increased, cost of manufacturing Cisatracurium Besylate has decreased
       to 29 percent of its price for the 12 months ended May 31, 2009, from
       47 percent of its price for the 12 months ended May 31, 2008.

"The significant increases in sales revenue as well as gross and net profit -- achieved despite sustained economic turmoil and without any funds raised in the last fiscal year -- speak well to the growing success of Sinobiopharma's products in the marketplace and the Company's improved ability to produce and distribute them more cost-effectively," said Dr. Lequn Lee Huang, Sinobiopharma's President and CEO.

About Sinobiopharma

Sinobiopharma, Inc. is a fully integrated and highly innovative specialty biopharmaceutical company engaged in the research and development, manufacture and marketing of biopharmaceutical products in China, the world's fastest growing pharmaceutical market. Known as Dong Ying (Jiangsu) Pharmaceutical Co., Ltd. in China, the Company's current therapeutic focus is on anesthesia-assisted agents and cardiovascular drugs.

FORWARD LOOKING STATEMENTS

This news release may include "forward-looking statements" regarding Sinobiopharma, Inc., and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Sinobiopharma, Inc. expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Sinobiopharma, Inc. does not undertake any obligation to update any forward looking statement, except as required under applicable law.


'/>"/>
SOURCE Sinobiopharma, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Emissary Capital Group Initiates Coverage on Sinobiopharma
2. Sinobiopharma Applies For Two Chinese Patents For Cisatracurium Besylate
3. Sinobiopharma Updates on Progress; Projects Increases in Sales and Revenues In 2009
4. Sinobiopharma Announces SFDA Approval of Anti-Hypertension Drug Perindopril
5. Sinobiopharma Secures Rights to Seven Key Patents
6. Sinobiopharma Reports a 141% Increase in Revenues From Unaudited Financial Results for the 9 Month Period Ended February 28, 2009
7. Sinobiopharma Reports a 41% Increase in Revenues From Unaudited Financial Results for the 9 Month Period Ended February 28, 2009
8. Sinobiopharma, Inc. Appoints New Director of Marketing
9. Sinobiopharma Signs Export Agreement With U.S. Pharmaceutical Supplier
10. Sinobiopharma Reports Financial Highlights for Six-Month Period Ending November 30, 2008
11. Economic Strength of Hawaii Seed Crop Industry Confirmed by Recent Reports
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/19/2017)... YORK , Jan. 18, 2017 ... to reach USD 92.9 billion by 2025, according ... Inc. Pharmaceutical industry has been adaptive of the ... as early as 2002. Among the services outsourced, ... forerunners. For instance, Johnson & Johnson was the ...
(Date:1/19/2017)... , Jan. 18, 2017 Acupath Laboratories, Inc., ... the formation of an Executive Committee that will guide ... John Cucci , a 15-year veteran ... Director of Business Development to Chief Sales Officer ... Cucci served in senior sales leadership roles at several ...
(Date:1/18/2017)... ... January 18, 2017 , ... ... interconnect using USB or PCI Express, announced the ZEM5310 USB 3.0 FPGA Module, ... into a compact business-card sized form factor suitable for prototyping, testing, and production-ready ...
(Date:1/18/2017)... --  Boston Biomedical , an industry leader in the ... pathways, will feature data from two clinical studies for ... Gastrointestinal Cancers Symposium, held from January 19-21, in ... is an orally-administered investigational agent designed to inhibit cancer ... cells (CSCs) possess the property of stemness – the ...
Breaking Biology Technology:
(Date:12/20/2016)... 20, 2016 The rising popularity of ... leasing is stoking significant interest in keyless access ... Bluetooth low energy (BLE), biometrics and near-field communication ... wave of wireless technologies in the automotive industry. ... advanced access systems opens the market to specialist ...
(Date:12/16/2016)... DUBLIN , Dec 16, 2016 Research ... Access System Market - Global Forecast to 2021" report to ... ... projected to grow at a CAGR of 14.06% from 2016 to ... 2016, and is projected to reach 854.8 Million by 2021. The ...
(Date:12/15/2016)... ... and Markets has announced the addition of the "Global Military Biometrics ... forecasts the global military biometrics market to grow at a CAGR of ... prepared based on an in-depth market analysis with inputs from industry experts. ... coming years. The report also includes a discussion of the key vendors ...
Breaking Biology News(10 mins):