News blog
Taihua
- BY: Andrew Hore |
- POSTED: 02/05/2012 |
Chinese natural medicine ingredients supplier Taihua says that sales of traditional Chinese medicines nearly trebled in 2011 thanks to the maiden sales of Bian Tong Pian.
The Chinese medicines revenues increased from RMB4.2m to RMB12.5m. All of the growth came from Bian Tong Pian sales but they were still slightly lower than target. There were also revenues from the sale of the first Forsythia crop and additional land is being leased that could double production.
In contrast, sales of active pharmaceutical ingredients were lower, although they still account for RMB20.3m, down from RMB23.8m.
Taihua still has cash in the bank.
Taihua says that its Yew tree plantation is ready for harvest and this should help to reduce costs and provide additional sources of income.
There is no new information about the loss of European regulatory approval for its manufacturing facility. The European Directorate of Quality Medicine (EDQM) was unhappy about the compliance of certain parts of the Paclitaxel manufacturing process. Taihua had not been selling Paclitaxel in Europe.
At 9.75p a share, Taihua is valued at £7.97m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2012_31.pdf
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