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Simcere Pharmaceutical Group Reports Preliminary Unaudited Second Quarter 2011 Results
Date:8/9/2011

NANJING, China, Aug. 9, 2011 /PRNewswire-Asia/ -- Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: SCR), a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals in China, today reported preliminary unaudited financial results for the quarter ended June 30, 2011.

Highlights

  • Total revenue was RMB546.4million (US$84.4million) for the second quarter of 2011, compared to RMB544.6 million for the same period in 2010, representing a year-over-year growth of 0.3%. For the first six months of 2011, total revenue was RMB1,028.6 million (US$158.9 million), representing an increase of 2.5% from RMB1,003.2 million for the same period in 2010.

  • Gross margin for the second quarter of 2011 was 84.9%, compared to 86.8% for the same period in 2010. For the first six months of 2011, gross margin was 84.4%, compared to 83.5% for the same period in 2010.

  • Income from operations was RMB79.9 million (US$12.4 million) for the second quarter of 2011, an increase of 27.5% from RMB62.7 million for the same period in 2010. For the first six months of 2011, income from operations was RMB109.6 million (US$16.9 million), which represented an increase of 17.1% from RMB93.6 million for the same period in 2010.

  • Net incomeattributable to Simcere was RMB73.7 million (US$11.4 million) for the second quarter of 2011, an increase of 91.1% from RMB38.6 million for the same period in 2010. For the first six months of 2011, net income was RMB101.6 million (US$15.7million), which represented an increase of 72.1% from RMB59.0 million for the same period in 2010.

    • "In the second quarter, both Simcere's revenue and gross margin remained steady, while anti-cancer drugs,
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    SOURCE Simcere Pharmaceutical Group
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