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Jiangbo Pharmaceuticals Reports Results for the Second Quarter of its Fiscal Year 2010
Date:2/22/2010

ass="xn-money">$14.8 million from $32.9 million for the three months ended December 31, 2008. The 44.8% decline was due to decreases in unit sales prices and sales volume. Unit sales prices for Clarithromycin Sustained-released tablets, Itopride Hydrochloride granules and Baobaole chewable tables decreased by an average of 26% following the restructuring of the Company's distribution and sales system in January 2009. Sales volumes declined due to renewal of the Company's GMP certificate, which resulted in a six-week production stoppage at the Company's main facility. Jiangbo received its GMP renewal certificate in December 2009, which is valid for a period of five years. Additionally, the Company's major products faced increasing competition from similar products included in China's newly announced National Basic Medical Insurance.

For the three months ended December 31, 2009, Clarithromycin Sustained-released tablets and Itopride Hydrochloride granules accounted for approximately 40.2% and 30.9% of total revenue, respectively. Baobaole chewable tables accounted for 16.9% of total revenue and were down 51.5% compared to the first quarter of fiscal 2010. Baobaole faced increased competition from Jianweixiaoshi tablet and zinc additives. Radix Isatidis dispersible tablets accounted for 11.9% of total revenue.

Gross profit in the second quarter of th
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SOURCE Jiangbo Pharmaceuticals, Inc.
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