Dragon Pharmaceuticals Inc. (NASDAQ OTC: DRUG) today announced the receipt of EPO sales orders from international markets outside of China totaling $937,500 in the first quarter of 2002, representing a 113% increase over total year international sales of $440,125 in 2001. To date, the Company has completed EPO shipments for $847,500 of first quarter orders, and expects to deliver the remaining orders valued at $90,000 next month. All dollar amounts are stated in US dollars.
“In just a few short months, we are seeing clear growth in international sales, which we define as sales from countries other than China,” said Dr. Longbin Liu, President and CEO of Dragon Pharmaceuticals. “To expand our sales base beyond China, where we hold a 30% market share position, we focused in 2001 on establishing distribution partnerships and regulatory product approvals throughout the developing world markets. We have thus far received product approvals in Egypt, India and Peru and expect to see a substantial increase in international sales as additional key approvals come on stream throughout 2002.
Dragon and its distributors are currently seeking additional regulatory approvals throughout Central and Eastern Europe, Southeast Asia, Latin America and the Middle East.