Drug Makers Post Strong Growth in 2008     

Net income in Zhejiang Hisun Pharmaceutical Co., Ltd. (SH: 600267), Hubei Qianjiang Pharmaceutical Co., Ltd. (SH: 600568) and Jiangzhong Pharmaceutical Co., Ltd. (SH: 600750) gained 30% plus for 2008, according to their results released March 3rd.
   Zhejiang Hisun reported sales of RMB3.18 billion in 2008, up 12.09% from a year earlier. Net income jumped 39.84% to RMB195 million, or RMB0.435 per share, as the company's overall gross margin rose to 27.45% last year, against 25.91% in 2007.
   The manufacturing costs of some key products fell more than 20% as the company took certain measures in the face of the fast rising prices of raw material and energy, Zhejiang Hisun said. Meanwhile, the company made an effort to reduce energy consumption, undertake clean production, and making comprehensive uses of resources, which contributed RMB176 million to the profit gain.
   The 2008 sales for medicine formulations surged 51.14% year-on-year, according to its annual report. Exports increased annually 27% to US$52.77 million in 2008.
   Hubei Qianjiang posted sales of RMB2.48 billion in 2008, an increase of 33.36% year-on-year, as the company strengthened innovative management and sales effort. Net profit surged 122.25% to RMB99.38 million, or RMB0.33 per share.
   In 2008, the company doubled the production capacity for lyophilization injection, and gained approval for two varieties of cephalosporins powder for injection family. Meanwhile, the company started producing tramadol hydrochloride injection, a class-2 psychotropic drug in China which must be manufactured at designated plant. Hubei Qianjiang's packaging products for 7 milliliter freeze-dried injection has also won approval from the drug regulators.
   Jiangzhong Pharmaceutical's sales revenue climbed 24.74% to RMB1.46 billion in 2008. Net income gained 33.70% to RMB130.6 million, or RMB0.44 per share.
   The company has set a target of RMB1.65 billion in sales for 2009.