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Lee's Pharmaceutical Kept Up the Rapid Pace of Growth; Profit Attributable to Shareholders Surged 176% in the Nine Months of 2008
Date:11/12/2008

ly to the increase in revenue and improvement in gross margin. For the 9 months ended 30 September 2008, the gross margin for the period under review stood at 70.6%, up by 1.4 percentage points over the same period last year, despite an unfavorable exchange rate for the licensed products. The improvement in gross margin was mainly driven by the productivity enhancement and manufacturing efficiency for in-house developed products. Benefitting from increase in economy of scale in sales, the Group's selling and distribution expenses to turnover ratio reduced to 28.19% for the third quarter of 2008 from 28.84% for the second quarter.

During the period under review, the Group achieved significant results in research and development division. The Group's eye gel workshop was GMP certified by China's SFDA which led to the launch of our first ophthalmology product Eyprotor(R) in September 2008. This is the third successful product launched by the Group within the past 3 years, a further affirmation of the Group's development capability. Significant progress was also made during the quarter in the areas of clinical study. Both reports for Bemiparin study and Horus(R)S stent study had been completed. PLC and ALC clinical studies have started patient enrollment and progressed well. Clinical study for Veloderm(R), which is applied in skin graft, has been initiated to make the total of the Group's ongoing clinical studies equal to four. Meanwhile, it had three other clinical studies entered into planning and preparation phase during the third quarter.

Looking ahead, Dr, Benjamin Li, CEO of the Group said," The renovation of the Group's Hefei manufacturing facility has been completed. The increase in automation and improvement in overall production environment will not only enhance the Group's production capacity, but also strengthen the Group's quality assurance capability, allowing the Group to continue its mission in fighting disease and improving health and qual
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SOURCE Lee's Pharmaceutical Holdings Limited
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