News blog
Taihua
- BY: Andrew Hore |
- POSTED: 30/08/2011 |
Chinese natural medicine ingredients supplier Taihua says that the European regulatory approval for its manufacturing facility has been suspended.
Approval had been granted by the European Directorate of Quality Medicine (EDQM) on 28 September 2009. The EDQM is unhappy about the compliance of certain parts of the Paclitaxel manufacturing process. Taihua can apply for the EDQM to revisit the facility when it has rectified the problems. That could take six months.
Paclitaxel is not being sold in Europe yet so this will not hit existing sales. Talks with potential European distributors are continuing.
In the first five months of 2011, Taihua’s revenues were RMB1.6m higher at RMB13.2m. Sales of the core products were down but sales of Bian Tong Pian, a new Chinese medicine ingredient, were higher.
At 9.25p a share, Taihua is valued at £7.56m.
Download the August 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFAugust2011_23.pdf
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