News blog
Taihua
- BY: Andrew Hore |
- POSTED: 30/07/2008 |
Taihua’s planned launch of new pharmaceutical ingredients has been delayed.
China-based Taihua supplies natural pharmaceutical ingredients made from Chinese trees and plants. All licences awarded to traditional Chinese medicines suppliers since 2005 are under review. Taihua has suspended production of its new pharma ingredients while the review continues.
The news knocked 2.25p off the shares taking them to 9.5p. Taihua is valued at £7.76m.
Sales volumes of both paclitaxel and homoharringtonine, the two main pharma ingredients supplied by the company, are higher than last year but revenues have been hit by exchange rate movements. Taihua is still waiting for feedback on its application for approval to sell paclitaxel in the EU. That should happen before the end of 2008.
Taihua intends to pay a dividend of 0.25p a share but that is subject to Chinese government approval. The process has been started but the dividend payment still seems some way off.
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