Vested
C&O achieves net profit of HK$29 million in 2QFY11ï‚·
Gross profit margin improves from 62% to 63%
Application for production of Edaravone Injection approved by SFDA
SINGAPORE – [10] February 2011 – Mainboard-listed C & O Pharmaceutical Technology (Holdings) Limited (“C&O†or the “Company†and together with its subsidiary companies, the “Groupâ€) reported a
3% drop in net profit to HK$29 million on revenue of HK$154 million for the three months ended 31 December 2010 (“2QFY11â€).
Group revenue decreased 10% year-on-year to HK$154 million, largely due to a 9% decline in sales of both Exclusive products and C&O Branded products. This was attributable to the uncertainty in the government’s healthcare reform policies, which resulted in many of its
customers adopting a wait-and-see stance and
maintaining a lower inventory in anticipation of the potential price adjustment of drugs by the PRC government.
Said Mr Gao, “Leveraging on Sumitomo’s expertise in C&O corporate management, global network and experience in developing international markets, C&O is in a strong position to take on the growing China healthcare market as well as explore export markets in Southeast Asia. We have
exciting plans on the drawing board and will update investors via announcements in due course.â€
“Having approved by the SFDA for the production permit of Edaravone Injection, we are a step closer to launching this
new prescriptive drug. Edaravone Injection is a neuroprotective agent administered
to protect the brain from injury induced by stroke.â€http://info.sgx.com/webcoranncatth.nsf/ ... penelement
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