Navigation Links
China Medicine Reports Third Quarter 2010 Financial Results
Date:11/10/2010

GUANGZHOU, China, Nov. 10, 2010 /PRNewswire-Asia-FirstCall/ -- China Medicine Corporation (OTC Bulletin Board: CHME) ("China Medicine" or "the Company"), a leading manufacturer, developer and distributor of Western pharmaceuticals, traditional Chinese medicines ("TCM"), and other health products, today announced financial results for the third quarter ended September 30, 2010.

Third Quarter 2010 Financial Performance

  • Revenue decreased 8.4% to $17.6 million from $19.2 million in the prior year period.
  • Gross margin was 33.1%, compared to 30.5% in the prior year period.
  • Operating income was $2.5 million, compared to $4.5 million in the prior year period, which was mainly due to the R&D expenditure on a diabetes drug.
  • Net income available to common shareholders decreased to $2.2 million, or $0.06 per diluted share, from $3.2 million, or $0.21 per diluted share, in the prior year period.

  • Mr. Senshan Yang, Chairman and CEO of China Medicine Corporation, stated, "We had a very challenging quarter, impacted by a combination of margin pressure on distributing prescription drugs due to the government's influence on the drug distribution bidding system, and rising prices of certain raw materials used in our proprietary products.
    We responded to these challenges by continually executing our 'high-margin focus' strategy.  In addition, we expedited the pace of completing the required clinical trials for Zhimu Huangtong, a patented TCM drug used to treat diabetes, and expect to launch this breakthrough diabetic product in 2012.  We are very confident that we will survive this challenging time and achieve long-term success, because we are well positioned and well prepared amid the rapidly changing industry.  We will continue to strive to work responsibly and aggressively on behalf of our shareholders."

    In the third quarter of 2010, revenue decreased 8.4% year over year to $17.6 million
    '/>"/>

    SOURCE China Medicine Corporation
    Copyright©2010 PR Newswire.
    All rights reserved

    Page: 1 2 3 4 5 6 7 8 9

    Related medicine technology :

    1. China Cord Blood Corporation Commences Warrant Exchange Offer
    2. China BCT Reschedules Conference Call to Discuss Third Quarter 2010 Results
    3. China BCT Announces Conference Call to Discuss Third Quarter 2010 Results
    4. ThermoGenesis Signs Major Bone Marrow Product Distribution Agreement in China
    5. ThermoGenesis Reports 35 Percent Increase in First Quarter 2011 Revenues, Adds Strategic Advisor and Inks China Distribution Deal With Nanshan Memorial Medical Institute
    6. Cypin Production Announces Launch of U.S./China BioPharma Conference:
    7. Local Chinese Government Authorities Approve Pricing and Reimbursement for NeoStems Licensed Adult Stem Cell Treatments for Orthopedic Applications in China
    8. Eli Lilly and Company to Open a Diabetes-Focused Research Center in China
    9. China Nepstar Chain Drugstore to Report Third Quarter 2010 Financial Results on November 17, 2010
    10. Nycomed to Accelerate Expansion in China Through Acquisition of Majority Stake in Guangdong Techpool Bio-Pharma
    11. Sanofi-aventis to Acquire BMP Sunstone Creating a Strong Consumer Healthcare Platform in China
    Post Your Comments:
    *Name:
    *Comment:
    *Email:
    (Date:12/24/2014)... 2014  Novastem, a leader in regenerative medicine, ... its study for ischemic stroke at Clinica Santa ... strokes account for 87 percent of all stroke ... the study, entitled "Internal Research Protocol in Combination ... Cells and Intrathecal Administration of Neural Stem Cells ...
    (Date:12/24/2014)... Pa. , Dec. 24, 2014  Commonwealth Cornerstone Group ... Markets Tax Credits transaction on Tuesday to help fund the ... Network (PHN) in Sharon . ... in Pennsylvania . It is the largest ... with more than 150 people on staff. Currently, ...
    (Date:12/24/2014)... N.Y. , Dec. 24, 2014 Kinex ... dosed with KX2-361 at Roswell Park Cancer Institute. ... small molecule drug that has shown potent inhibitory activity ... including those that are resistant to Temozolomide (T98G), the ... glioma. In a well-established brain tumor mouse model, KX2-361 ...
    Breaking Medicine Technology:Novastem Treats First Patient Using Stemedica's Mesenchymal and Neural Stem Cell Combination Therapy for Ischemic Stroke 2Novastem Treats First Patient Using Stemedica's Mesenchymal and Neural Stem Cell Combination Therapy for Ischemic Stroke 3Novastem Treats First Patient Using Stemedica's Mesenchymal and Neural Stem Cell Combination Therapy for Ischemic Stroke 4Commonwealth Cornerstone Group Announces $8 Million in Tax Credits to Expand and Consolidate Healthcare Services in Sharon 2Commonwealth Cornerstone Group Announces $8 Million in Tax Credits to Expand and Consolidate Healthcare Services in Sharon 3Kinex Pharmaceuticals Announces First Patient Dosed with KX2-361 in a Phase 1 Clinical Study 2Kinex Pharmaceuticals Announces First Patient Dosed with KX2-361 in a Phase 1 Clinical Study 3
    ... OMER ) today announced that its exclusive license to ... been amended to include addiction and compulsive disorders in the ... Company,s discovery of a previously unknown link between PDE7 and ... it also is the first to link PDE7 to any ...
    ... BRUNSWICK, N.J. and LEIDEN, Netherlands, Feb. 22, 2011 Johnson ... (NYSE Euronext, Nasdaq: CRXL ; Swiss Exchange: CRX) ... offer for Crucell N.V. (Crucell) and has declared the offer ... center for vaccines within the Johnson & Johnson pharmaceuticals group. ...
    Cached Medicine Technology:Omeros Announces Expansion of Exclusive License to PDE7 Inhibitors from Daiichi Sankyo 2Omeros Announces Expansion of Exclusive License to PDE7 Inhibitors from Daiichi Sankyo 3Omeros Announces Expansion of Exclusive License to PDE7 Inhibitors from Daiichi Sankyo 4Johnson & Johnson Completes Tender Offer for Crucell and Declares Offer Unconditional 2Johnson & Johnson Completes Tender Offer for Crucell and Declares Offer Unconditional 3Johnson & Johnson Completes Tender Offer for Crucell and Declares Offer Unconditional 4Johnson & Johnson Completes Tender Offer for Crucell and Declares Offer Unconditional 5Johnson & Johnson Completes Tender Offer for Crucell and Declares Offer Unconditional 6Johnson & Johnson Completes Tender Offer for Crucell and Declares Offer Unconditional 7Johnson & Johnson Completes Tender Offer for Crucell and Declares Offer Unconditional 8
    (Date:12/24/2014)... 2014 Over 700 toys, that’s what ... communities. That is 700 smiling little faces this holiday ... over $6000 in monetary donations was given to the ... the expenses they incur through the year. Some of ... A Child's Haven , Shrine's Children's Hospitals, Toys for ...
    (Date:12/24/2014)... TX (PRWEB) December 24, 2014 Connie ... specialist and functional medicine advocate with 30 years of ... trial to evaluate the health benefits of dietary detoxification. ... with new participants following excellent results from test patients ... When asked to explain her interest in conducting the ...
    (Date:12/24/2014)... York, New York (PRWEB) December 24, 2014 ... to mount in a mass tort litigation currently underway ... LLP reports. As of December 24, 2014, court ... the proceeding on behalf of individuals who developed gynecomastia ... its use. Data from the Court indicates that this ...
    (Date:12/24/2014)... TX (PRWEB) December 24, 2014 Dr. ... announced the expansion of his practice and med-spa with ... the practice’s growing list of cosmetic treatments and services. ... solution into the skin,” says Dr. Ho. “As a ... changes such as wrinkles, sun spots, discolorations or blemishes.” ...
    (Date:12/24/2014)... Today, UWDress.com, the famous women’s dress supplier, has ... launched a site-wide wedding gown promotion. , For ... a more unexpected way, the collection should be a great ... global market, and they are available with custom service. , ... discounted prices, up to 75% off; most of them come ...
    Breaking Medicine News(10 mins):Health News:AlignLife Donates Over 700 Toys This Year 2Health News:Connie Casad, MD, Now Accepting Test Participants for January Dietary Detoxification Study 2Health News:Connie Casad, MD, Now Accepting Test Participants for January Dietary Detoxification Study 3Health News:Risperdal Lawsuits Continue to Climb, as Claims in Pennsylvania Litigation Exceed 1,180 Filings, Bernstein Liebhard LLP Reports 2Health News:Risperdal Lawsuits Continue to Climb, as Claims in Pennsylvania Litigation Exceed 1,180 Filings, Bernstein Liebhard LLP Reports 3Health News:Risperdal Lawsuits Continue to Climb, as Claims in Pennsylvania Litigation Exceed 1,180 Filings, Bernstein Liebhard LLP Reports 4Health News:Dr. Vu Ho Expands Facial Plastic Surgery Practice to Include New Skin Care Treatment 2Health News:Buy Cheap Long Sleeve Wedding Gowns At UWDress.com 2
    ... WAUSAU, Wis., July 8 Like an estimated 5 million ... condition that greatly increases the risk of stroke and causes ... , , Aspirus cardiovascular surgeon John Johnkoski, M.D., ... Simonis to correct the condition that plagued the Rosholt resident ...
    ... with service, study finds , WEDNESDAY, July 8 (HealthDay ... new study says soldiers who need electrical spinal cord ... to return to active duty. , In electrical spinal ... help disrupt nerve signals for pain. The procedure, an ...
    ... SOUTH SAN FRANCISCO, Calif., July 8 ... a teleconference at 11:00 a.m. Eastern Time tomorrow, Thursday, ... deal in the past six months, this time for ... currently in Phase II clinical development for the prevention ...
    ... work conditions may be to blame for the decline in ... study published in the latest issue of the Annals ... are associated with stress, burnout and intent to leave for ... assistant professor in the department of medicine, Loyola University Chicago ...
    ... Foundation of America, Inc. (LFA) is accepting letters of intent ... transplantation research in humans as a treatment for lupus, and ... affect the health-related quality of life of children, adolescents and ... will award one $100,000 grant for adult stem cell research. ...
    ... LoJack Corporation (Nasdaq: LOJN ) and ... LoJack SafetyNet System and Project Lifesaver Program has helped to rescue ... Alzheimer,s or dementia who had wandered over the past month. ... with cognitive conditions at risk of wandering, and is a particularly ...
    Cached Medicine News:Health News:Advanced Heart Procedure Treats Growing Problem 2Health News:Advanced Heart Procedure Treats Growing Problem 3Health News:Portola Pharmaceuticals to Host Conference Call at 11:00 a.m. Eastern Time Tomorrow to Discuss Betrixaban Partnership and Provide Corporate Update 2Health News:Health clinic conditions may be to blame for decrease in primary care physicians 2Health News:Lupus Foundation of America Accepting Letters of Intent for Research Grants on Adult Stem Cell Research and Health-Related Quality of Life in Pediatric Lupus 2Health News:LoJack SafetyNet and Project Lifesaver Help Rescue Clients Afflicted With Alzheimer's/Dementia Who Wandered 2Health News:LoJack SafetyNet and Project Lifesaver Help Rescue Clients Afflicted With Alzheimer's/Dementia Who Wandered 3Health News:LoJack SafetyNet and Project Lifesaver Help Rescue Clients Afflicted With Alzheimer's/Dementia Who Wandered 4Health News:LoJack SafetyNet and Project Lifesaver Help Rescue Clients Afflicted With Alzheimer's/Dementia Who Wandered 5
    ... The CKX microscopes utilize ... improved visibility and operability in ... a cost-effective inverted microscope suited ... range of fields--from tissue culture ...
    The simplest, neatest, most efficient anti-theft system for frames and sunwear. Available in 3 colors Black, Matte aluminum, and Bronze. Fits with any style or color of furniture. Safe, simple, easy...
    69" 5 shelves electric rotating display with gunmetal grey frame. Lead time 6-8 weeks....
    1 Frame clear base post with transparent Eyevee 2.0 Clip....
    Medicine Products: