2007 Total Revenue Increased 46.1%, Net Income Rose 75%
NANJING, China, March 4 /Xinhua-PRNewswire/ -- Simcere Pharmaceutical
Group (NYSE: SCR), a leading manufacturer and supplier of branded generic
pharmaceuticals and manufacturer and supplier of the patented anti-cancer
product Endu in China, today reported unaudited financial results for the
quarter ended December 31, 2007 and fiscal year ended December 31, 2007.
-- Total revenue increased to RMB398.6 million (US$54.7 million) for the
fourth quarter; achieving full year total revenue of RMB1,389.3 million
(US$190.5 million), representing a 46.1% year-over-year growth;
-- Net income increased to RMB78.1 million (US$10.7 million) for the
fourth quarter; achieving full year net income of RMB301.3 million
(US$41.3 million), representing a 75% year-over-year growth;
-- Gross margin remained stable at 82.1% for the fourth quarter; achieving
full year gross margin of 82.3% compared to 79.9% for the full year of
Mr. Jinsheng Ren, Chairman and CEO of Simcere Pharmaceutical Group, commented: "I am delighted to say Simcere achieved strong growth in 2007. Endu, our innovative anti-cancer drug continues to be rapidly recognized and accepted by an increasing number of specialist physicians and patients during the second year of its launch; Bicun, our first-to-market stroke management drug is being prescribed by a growing number of doctors, and gaining entry into additional hospital departments. Both Endu and Bicun sales growth exceeded our 2007 expectations.
In addition to the continued growth of Endu and Bicun, newly acquired
drugs Yidasheng and Jiebasu, the expecte
|SOURCE Simcere Pharmaceutical Group|
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