Simcere Pharmaceutical revenue increases to RMB 443.7m for the third quarter of 2009 compared to RMB 443.4m for the same period last year.
Revenue from Endu amounted to RMB 21.6m in the third quarter of 2009, which was 4.9% of the company’s product revenue for the third quarter of 2009 and represented a decrease of 60.2% from RMB 54.4m for the same period prior year.
Revenue from edaravone injection products totaled RMB 191.1m for the third quarter of 2009, which was 43.5% of the company’s product revenue for the third quarter of 2009, and represented an increase of 20.4% from RMB 158.8m over last year’s third quarter.
Revenue from Sinofuan amounted to RMB 36.0m for the third quarter of 2009, which was 8.2% of the company’s product revenue for the third quarter of 2009, and represented an increase of 114.6% from RMB 16.8m for the same period in 2008.
Revenue from other first-to-market products including Jiebaishu, a nedaplatin product, and Anxin, amounted to RMB 8.7m for the third quarter of 2009, which was 2.0% of the company’s product revenue for the third quarter of 2009.
Revenue from other branded generic products amounted to RMB 181.6m, which was 41.4% of the company’s product revenue for the third quarter of 2009, and represented a decrease of 12.4% from RMB 207.3m for the same period in 2008.
Net income attributable to Simcere was RMB 16.4m for the third quarter of 2009, compared to RMB 91.2m for the same period in 2008. Basic and diluted earnings per American Depository Share (ADS) for the third quarter of 2009 were RMB 0.29 and RMB 0.29 respectively.
For the first nine months of 2009, total revenue was RMB 1,310.6m, an increase of 2.9% from RMB 1,274.2m for the same period prior year.
Revenue from Endu totaled RMB 90.2m for the first nine months of 2009, which represented a decrease of 50.2% from RMB 181.3m for the same period in 2008.
Revenue from edaravone injection products totaled RMB 533.7m for the first nine months of 2009, which represented an increase of 16.4% from RMB 458.4m for the same period last year.
For the first nine months of 2009,revenue from other first-to-market products totaled RMB 27.6m. Revenue from other branded generic products totaled RMB 551.3m, which represented a decrease of 7.5% from RMB 596.2m for the prior year same period.
Net income for the first nine months 0f 2009 was RMB 101.8m, which represented a decrease of 65.9% from RMB 298.4m for the same period in 2008. Basic and diluted earnings per ADS for the first nine months of 2009 were RMB 1.75 and RMB 1.73 respectively.
As of September 30, 2009, the company had cash, cash equivalents and restricted cash of RMB 448.1m compared to RMB 813.8m as of December 31, 2008.
Jinsheng Ren, chairman and chief executive officer of Simcere Pharmaceutical, said: “Our sales and gross profit margins remained stable this quarter. However, lower sales in Endu, impacted by the restructuring of the sales team, and an increase in sales and marketing expenses for new to market drugs like Anxin and Sinofuan, caused a significant decrease in operating income.
“Looking forward, we will maximize the commercial opportunities presented by the upcoming changes in the national and local insurance catalogues, and continue our strategy of marketing existing key products within Simcere’s strong product portfolio to drive mid-to-long term growth.”