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news.China Pediatric Pharmaceuticals, which develops, manufactures and distributes both prescription and over-the counter, including both conventional and Traditional Chinese Medicines (TCMs), has said that during the three and nine months ended 30 September 2010 its total net sales increased by $3m or 72% and $9.1m or 80%, respectively, compared to the comparable periods in 2009.
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China Pediatric Pharma claims that a significant portion of the increase in sales is derived from an increase in sales for the ‘Cooer’ Series by $2.6m or 80% and $8.7m or 104% in the three and nine months ended 30 September 2010, respectively.
This was mainly due to the increase in sales volume as demand from customers increased as well as a result of the intensive promotion in 2010.
In the nine months ended 30 September 2010, the net income increased by $1,210,899 or 47% to $3,794,291, year-over-year, and earnings per share increased by $0.09 or 29% to $0.40, year-over-year.
The company’s gross profit increased about $1.6m or 63% and $5m or 72% in the three and nine months ended 30 September 2010, compared to the same periods of 2009.
According to China Pediatric Pharma, the increase in gross profit was due primarily to the increase in net sales of ‘Cooer’ Series that was achieved through an expansion of the customer base, as mentioned above.
China Pediatric Pharma chairman and CEO Jun Xia said that their sales and profit increased significantly, and they expect to continue increasing sales by expanding the market reach and strengthening the brand recognition.