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Simcere Pharmaceutical Group Reports Unaudited Second Quarter 2009 Results and Announces Share Repurchase
Date:8/17/2009

which was 43.3% of the Company's product revenue for the second quarter of 2009, and represented an increase of 24.0% from RMB147.6 million for the same period in 2008. For the first six months of 2009, revenue from Bicun and Yidasheng totaled RMB342.6 million (US$50.2 million), which represented an increase of 14.3% from RMB299.7 million for the same period in 2008.

Revenue from other first-to-market products including Jiebaishu, a nedaplatin product, Sinofuan, a 5-FU sustained release implant for the treatment of cancer, and Anxin, a biapenem injection for the treatment of serious infections launched in the fourth quarter of 2008, amounted to RMB45.9 million (US$6.7 million) for the second quarter of 2009, which was 10.8% of the Company's product revenue for the second quarter of 2009. For the first six months of 2009, revenue from other first-to-market products totaled RMB78.6 million (US$11.5 million). Revenue from Sinofuan reached RMB34.6 million (US$5.1 million) for the second quarter, representing a 615.2% year-over-year growth.

Revenue from other branded generic products amounted to RMB161.9 million (US$23.7 million) or 38.3% of the Company's product revenue for the second quarter of 2009, a decrease of 24.7% from RMB215.0 million for the same period in 2008. For the first six months of 2009, revenue from other branded generic products totaled RMB369.7 million (US$54.1 million), which was a decrease of 4.9% from RMB388.8 million for the same period in 2008.

Gross margin for the second quarter of 2009 was 82.3%, compared to 81.7% for the same period in 2008. For the first six months of 2009, gross margin was 82.4%, the same as in the first six months of 2008.

Research and development expenses for the second quarter of 2009 totaled RMB25.0 million (US$3.7 million), an increase of 89.1% from RMB13.2 million for the same period in 2008. This increase was primarily due to increased re
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SOURCE Simcere Pharmaceutical Group
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