Chinese firm Simcere 2nd-qtr revenues and income leap

Nanjing, China-based Simcere Pharmaceutical Group, a manufacturer and supplier of branded generic pharmaceuticals in China, has reported unaudited financial results for the quarter ended June 30, 2007, showing that: revenues leapt 51.3% to 355.0 million renminbi ($46.6 million); net income rocketed 67.4% to 83.1 million renminbi and gross margin increased to 83.7% from 78.9% in the second quarter of 2006. The improvement in gross margin reflects consistent increases in sales of higher gross margin products, the firm notes.

Chief executive Jinsheng Ren commented: "during the quarter, we continued to experience strong growth in Bicun and Endu. This underscored the progress that we are making toward our strategic focus of bringing new first-to-market drugs to the Chinese marketplace. Bicun [edaravone injection] and Endu [the first recombinant human endostatin approved in China] have gained wider recognition by Chinese hospitals, clinical physicians and patients. Bicun's strong brand awareness has resulted in Bicun becoming the preferred anti-stroke medicine in major hospitals and its quarterly sales exceed 100.0 million renminbi for the first time in the second quarter of 2007."