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China Pharma Holdings, Inc. Reports Full Year 2010 Financial Results
Date:3/3/2011

HAIKOU CITY, China, March 3, 2011 /PRNewswire-Asia-FirstCall/ -- China Pharma Holdings, Inc. (NYSE Amex: CPHI) ("China Pharma" or the "Company"), a fully-integrated specialty pharmaceuticals company in China, today announced financial results for the year ended December 31, 2010.

Full Year Highlights

  • Revenue increased 21% to $74.4 million in fiscal year 2010 from $61.7 million in fiscal year 2009.
  • Net income rose 30% to $23.4 million in fiscal year 2010 from $18.0 million in fiscal year 2009, with earnings per share rising $0.11 to $0.54 in fiscal year 2010 from $0.43 in fiscal year 2009.
  • Excluding adjustments for derivative gains/losses and a one-time bad debt estimate in third quarter 2009, net income climbed 23% from $17.7 million in fiscal year 2009 to $21.8 million in fiscal year 2010*, with earnings per share rising from $0.42 in fiscal year 2009 to $0.50 in fiscal year 2010
  • Significant pipeline progress made:
  • Completion of clinical trials for Candesartan (now awaiting final production approval from the Chinese State Food and Drug Administration ("SFDA")).
  • Completion of clinical trials for Rosuvastatin (submitted application for final production approval to the SFDA).
  • Completion of Phase I clinical trials of our cephalosporin-based combination antibiotic.
  • Obtained "National High-Tech Enterprise" status which entitles us to favorable preferential tax treatment for the next three years (from 2011 to 2013).

  • "In 2010 we registered robust revenue growth, with increased sales across all product categories, while making meaningful progress in our research and development program," said Ms. Zhilin Li, China Pharma's Chairman and CEO.  "Among key pipeline milestones achieved this year, we completed clinical trials of Candesartan, our new hypertension drug, and Rosuvastatin, our gener
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    SOURCE China Pharma Holdings, Inc.
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