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

stor, in December 2010 and has submitted an application for SFDA production approval.  
  • The Company completed Phase I clinical trials of its novel cephalosporin-based combination antibiotic in September 2010.  Phase I of the clinical trials focused on the study of clinical pharmacology as well as the evaluation of safety on the human body, while observing tolerance and pharmacokinetics to provide support for dosage and drug delivery design.  The Company has entered Phase II clinical trials for this drug.

  • Conference CallThe Company will hold a conference call at 8:30 am EST on March 3, 2011 to discuss full year 2010 results.  Listeners may access the call by dialing 1-800-265-0241, or 1-617-847-8704 for international callers; access code: 49845306. A webcast will also be available through the Company's website at http://www.chinapharmaholdings.com.  A replay of the call will be accessible through March 10, 2011 by dialing 1-888-286-8010, or 1-617-801-6888 for international callers; access code: 57630593.

    Use of Non-GAAP Financial MeasuresGAAP results for the year ended December 31, 2010 and 2009 include non-recurring benefit from change of bad debt estimates and gains and losses from changes in derivative warrant liability.  To supplement its consolidated financial statements presented on a GAAP basis, the Company has provided non-GAAP adjusted financial information, including adjusted net income and adjusted diluted earnings per share, that excludes the impact of the change in its bad debt estimates and the changes in derivative warrant liability. The Company's management believes that this adjusted measure provides investors with a better understanding of how the results relate to the Company's historical performance. A reconciliation of adjustment to GAAP results appears in the tables accompanying this press release. This additional adjusted information
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    SOURCE China Pharma Holdings, Inc.
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