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China Biologic Reports Financial Results for the Second Quarter and First Half of 2013
Date:8/6/2013

million, an increase of 6.2% from $50.5 million in the same quarter of 2012. Excluding foreign currency influence, the increase in sales was primarily attributable to a mix of price and volume increases in certain plasma-based products. During the three months ended June 30, 2013, the prices all of the Company's approved products either increased or remained stable. The price increase for the human albumin products was primarily attributable to the increase of the retail price ceiling announced by the NDRC in January 2013, which came into effect at the beginning of February, enabling the Company to have more flexibility in pricing and to raise ex-factory prices in certain regional markets. The average price for human immunoglobulin for intravenous injection ("IVIG") products remained stable as compared to the prior year period.

During the second quarter of 2013, human albumin products and IVIG products remained the largest two sales contributors.

  • As a percentage of total sales, human albumin product revenue was 42.5% in the second quarter of 2013 as compared to 38.7% in the same quarter of 2012. Sales volume of human albumin products increased slightly by 3.9% in the reporting quarter, primarily due to strong market demand.
  • As a percentage of total sales, IVIG revenue was 39.4% in the second quarter of 2013 as compared to 42.1% in the same quarter of 2012. Sales volume of IVIG products decreased by 1.6% in the quarter, mainly due to the Company's decision to reduce sales in order to smooth out the impact associated with the Guizhou Taibang production suspension.
  • Cost of sales was $16.1 million in the second quarter of 2013, the same with that of the second quarter of 2012. Cost of sales as a percentage of total sales was 30.1%, as compared to 32.0% in the same quarter of 2012.

    Gross profit increased by 9.1% to $37.5 million in the second quarter of 2013 from $34.3 million in the same quarter of 2012. Gross margin was 69.9%
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    SOURCE China Biologic Products, Inc.
    Copyright©2012 PR Newswire.
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