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China Pharma Holdings, Inc. Reports First Quarter 2012 Financial Results
Date:5/15/2012

ance rose to $73.5 million at the end of the first quarter of 2012 from $69.7 million at the end of 2011. The Company's management team continues to be sharply focused on improving accounts receivable collection and expects to make progress in the quarters to come.

For the three months ended March 31, 2012, cash flow from operating activities was $0.12 million, as compared to $1.39 million in the period a year ago.

Pipeline UpdateAs of March 31, 2012, China Pharma had various pipeline drugs in different stages of active development.  Some of these are highlighted below:

  • The Company originally submitted application for production approval of Candesartan, a front-line drug therapy developed for the treatment of hypertension, in 2010. The Company received request for additional procedures in the fourth quarter of 2011 and has since completed all newly requested procedures. We now expect SFDA to give us the final production approval by mid-year 2012.
  • The Company completed clinical trials of Rosuvastatin, a generic form of Crestor, and is in the process of production approval process.
  • The Company completed Phase I clinical trials of its novel cephalosporin-based combination antibiotic in September 2010.  We are currently conducting Phase II clinical trials for this drug.
  • The Company is developing a medicine for the treatment of coronary heart disease. This product comes with a patented TCM formula and we are currently conducting Phase III clinical trials for this drug. We anticipate the completion of the clinical work for this product by year end 2012.
  • Conference CallThe Company will hold a conference call at 8:30 am ET on May 15, 2012 to discuss first quarter 2012 results.  Listeners may access the call by dialing 1-866-519-4004 or 65-672-393-81 for international callers, Conference ID # 78450563. A webcast will also be available through CPHI's website at

    SOURCE China Pharma Holdings, Inc.
    Copyright©2010 PR Newswire.
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