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

ic version of Crestor.  We expect to launch these two products during 2011 and believe that they can generate higher than average gross margin compared to our current portfolio.  In 2010 we also entered Phase II clinical trials of our novel cephalosporin-based combination antibiotic. Commercializing exciting new drugs like this, along with first-to-market generic medicines, is an important part of our strategy to enhance China Pharma's growth and profitability."  

Full Year ResultsRevenues for the year ended December 31, 2010 were $74.4 million, up 21% from revenues of $61.7 million for the year ended December 31, 2009, reflecting higher sales across all of the Company's product categories.  

The "Digestive Diseases" product group was the Company's fastest growing revenue category in 2010, with sales increasing 96% to $9.3 million from $4.8 million in 2009.  The strong performance of the Digestive Diseases product group primarily reflects robust incremental revenue from Omeprazole, the Company's generic gastroesophageal reflux disease drug, and Tiopronin, a drug prescribed for treatment of acute Hepatitis B and drug-induced liver damage.  Sales from the Company's second fastest revenue category in 2010, "Other Products", grew 31% to $14.1 million from $10.7 million in 2009.  The year-over-year increase of Other Products revenue mainly reflects reinvigorated sales of Vitamin B6 after its placement on the Chinese government's Essential Drug List ("EDL") in 2009.  The "CNS Cerebral and Cardio Vascular" product group ("CNS") generated sales of $23.9 million in 2010, representing an increase of 11% compared to sales of $21.5 million in 2009. We expect the upcoming new CNS products (namely Candesartan and Rosuvastatin) will strongly support the profitability and boost sales in this category once launched. Sales of "Anti-Viro/Infection & Respiratory" products, the Company's largest revenue category during 2010, g
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SOURCE China Pharma Holdings, Inc.
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