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Taihua
- BY: Andrew Hore |
- POSTED: 28/09/2009 |
Shares in Chinese natural medicine ingredients supplier Taihua rose by 75% when it gained a European certificate of suitability for palliate.
Paclitaxel is an anti-cancer ingredient made from yew trees. Paclitaxel is used in treatments for ovarian, breast, lung and skin cancer. The company can get a better price for Paclitaxel in Europe than in China. Taihua has its own yew trees from which it extracts the basic materials for Paclitaxel but it also has outside suppliers. Taihua may consider the US market now it has European approval.
The shares rose 6.625p to 15.5p each, which values Taihua at £12.7m. That is double the share price after Taihua announced its 2008 results in July 2009. The share price has not been this high since 2007.
Taihua raised £780,000 at 10p a share when it joined Aim on 14 December 2006.
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