Updated on 26 March 2013
Sihuan Pharma net profit rises by 9.8 percent in 2012
Singapore: Sihuan Pharmaceutical, a leading pharmaceutical company with the largest cardio-cerebral vascular (CVV) drug franchise in China's prescription drug market, reported its annual results for the year ending December 31, 2012.
In 2012, leveraging its leading position in the CCV prescription drug market, Sihuan Pharmaceutical achieved satisfactory results amidst regulatory pressure affecting the pharmaceutical industry. Revenue surged by 35.7 percent while gross profit rose 33.5 percent. Profit attributable to owners of the company grew by 9.8 percent.
Dr Che Fengsheng, chairman and CEO, Sihuan, said that, "The year 2012 was a challenging year for the Company, yet it was also a turning point in our business development. We have completed integration of our distribution network that significantly enhanced our operational efficiency. We have completely ended its reliance on individual products and built a more balanced revenue stream, as the sales contribution from its nine major products now exceeds half of its total sales revenue."
"In addition, we have accomplished an important milestone forging a collaborations with international players. Our continuous R&D efforts have started to bear fruit as several projects achieved breakthroughs during the year. We have has further strengthened our leading position in the CCV prescription drug market and become the eighth largest pharmaceutical company in the Chinese prescription drug market in 2012," said Dr Fengsheng.