Hengrui Medicine Posts Net Profit Growth     

Jiangsu Hengrui Medicine Co., Ltd. (SH: 600276) reported on February 8th that it recorded sales revenue of RMB3.029 billion and net profit of RMB665.7 million in 2009, increasing 26.6% and 57.4% over one year earlier, respectively.
   Jiangsu Hengrui Medicine Co., Ltd., is China's largest manufacturer of antineoplastics formulation, with a domestic market share of 12%. It is certificated to produce stupefacient, angiomyocardiac and antibiotics in formulations. Its APIs production capacity is 80 t/a, including Etoposide, Ifosfamide and Oxlaliplatin.
   In the net profit, 84.29% was contributed by the pharmaceuticals manufacturing business. The company attributed the high growth of net profit to cost reduction.