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news.Jiangbo Pharmaceuticals has reported revenues of $27.67m for the first quarter ended 30 September 2010, an increase of 13.5%, compared to $24.38m for the comparable period in 2009.
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Jiangbo Pharma has posted a net income of $10.57m for the first quarter 2010, or $0.29 per diluted share, compared to net income of $1.97m, or $1.68 loss per diluted share, for the comparable period in 2009.
Income from operations for the first quarter 2010 was $14.56m, compared to $12.68m for the comparable period in 2009.
Jiangbo Pharma CEO Linxian Jin said that they were pleased with this quarter’s year-over-year revenue growth, which was driven by increased sales of their top three products, Clarithromycin, Itopride Hydrochloride, and Radix Isatidis dispersible tablets.
"We also are excited about the early performance of our Felodipine sustained release tablets, which we officially launched during the first quarter," Jin said.
"We believe that this new drug, along with the anticipated production of several traditional Chinese medicines at our Hongrui facility, will begin to contribute meaningfully to revenue as we head into 2011."
Jiangbo Pharma is engaged in the production, research, development, marketing and sales of pharmaceutical products in China.