Tonghua Dongbao Medicines to Get Insulin GMP

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SHANGHAI, Sep 25, 2008 (SinoCast via COMTEX) -- MDCO | Quote | Chart | News | PowerRating -- Tonghua Dongbao Medicines Co., Ltd. (SHSE: 600867) yesterday announced that it was expected to get the GMP (Good Manufacturing Practice) certification of recombinant human insulin from the State Food and Drug Administration (SFDA) on September 28, 2008.

The hi-tech TCM (traditional Chinese medicine) and biopharmaceuticals producer recently completed the second phase of its insulin project. With a total investment of CNY 697.48 million, the Phase II is designed to turn out more than 200 kilograms of insulin monthly from the fourth quarter of this year.

As early as 2005, the Shanghai-listed company aimed at the insulin business, and about three years later, the total sales value of its insulin ingredients and preparation added up to CNY 134 million from CNY 70.35 million. Meanwhile, the gross profit margin of this operation rose 8.0 percentage points to 79.53%.

Tonghua Dongbao Medicines reaped operating revenues of CNY 254 million in the first half ended June 30, 2008, with a 30.94% jump year on year, but its net profits reduced 21.16% to nearly CNY 37.29 million, owing to the increasing cost pressure.

From www.shihua.com.cn, Page 1, Wednesday, September 24, 2008 info@SinoCast.Com