Welcome, visitor! [ Login

Dragon Posts 106% Increase in First Quarter Revenues

News

D For greater detail, please refer to the Company’s 10-QSB, which has been filed with the U.S. Securities and Exchange Commission. The full financial statements will also be available on Dragon’s website at www.dragon-pharma.org. All dollar amounts are expressed in U.S. currency.

Recent Highlights:

  • Generated revenues of $1.37 million, up 106% from Q1 2001
  • Submitted SDA application for marketing approval of EPO in surgical patients
  • Acquired remaining 25% of GMP-certified manufacturing facility in Nanjing, China
  • Obtained a TSX listing under the symbol ‘DDD’ subsequent to quarter-end

Operational Review

“This quarter marks the first time that EPO sales outside of China have surpassed Chinese sales,” said Dr. Longbin Liu, President and CEO. “While maintaining our 30% market share position in China’s EPO market, we have successfully diversified our customer base and expanded our international presence by marketing our lead product in other developing countries. Our current distribution licenses cover over 90 countries and we expect key approvals to come on line throughout the year, leading to continued growth in international sales.”

Dragon’s EPO is currently approved and marketed for use in the treatment of anemia related to chronic renal failure in China, India, Egypt and Peru. During the quarter, the Company submitted its application to the Chinese State Drug Administration (SDA) for the use of EPO in surgical patients and expects to receive a New Drug License in China for this indication shortly.

“Use of EPO for surgical indications is a key step in the development and marketing of our lead product,” said Dr. Liu. “We expect the surgical indication to really expand our potential market in many countries. Additionally, we are working on a chemotherapy-related indication for EPO, for which we expect to complete Phase III clinical trials late in 2002.”

During the quarter, Dragon acquired the remaining 25% equity interest in its GMP-certified production facility located in Nanjing, China. The acquisition will allow Dragon to meet the growing demand for its commercially available therapeutic protein, EPO, and expedite the development of other pipeline products.

Subsequent to quarter-end, Dragon began trading on the Toronto Stock Exchange on May 9, 2002 under the symbol DDD. Listing on a senior stock exchange should help the Company gain an institutional following and raise its profile in the Canadian investment community.

Financial Review

Revenues for the first quarter totalled $1.37 million, an increase of over 106% from $664,000 in the first quarter 2001. Gross profit margin rose to 86% from 78% of the same period last year. The significant increase in gross profit margin is mainly due to the economies of scale the company achieved over the year.

Operating expenses for the first quarter 2002 were $2.15 million, up from $1.54 million from the same period last year, largely due to increased investment in Research and Development efforts.

Net loss for the period was $938,000, or $0.05 per share, compared to $856,000, or $0.05 per share, for the first three months of fiscal 2001.

“With the anticipated growth of our top line revenues, we expect to see significant improvement to our bottom line,” said Dr. Liu. “In addition to obtaining additional international marketing approvals as well as regulatory approvals for new applications of our EPO, our upcoming development efforts will focus on commercializing the additional protein therapeutics in our product pipeline.”

Best Dragon Pharma Steroids Online

Dragon Pharma operates four separate pharmacy businesses from its location in Europe. They offer in-store and mail order steroids: Trenbolone 200.

No Tags

17 total views, 1 today

  

  • Dragon Pharma Sells Polymun Development

    Dragon Pharmaceutical Inc. (OTC BB: DRUG; TSX: DDD) (“the Company”) announced today that the Company has sold its Development and Manufacturing Agreement with Polymun Scientific Immunbiologische Forschung GmBh (“Polymun”) to AS Biotech AG, a Swiss company, for US$1 million. Prior to the acquisition of Oriental Wave Holding Limited in early 2005, Dragon entered into a […]

  • Dragon Announces Growth in International EPO Sales

    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, […]

  • Dragon Ships EPO Internationally

    Dragon Pharmaceuticals Inc. (NASDAQ OTC: DRUG) today announced that it has filled orders for recombinant erythropoietin (EPO) from Egypt, India and Peru where, in addition to China, the Company’s EPO is approved for use in the treatment of anemia related to chronic renal failure. All dollar amounts are stated in US dollars. “Penetrating new markets […]

  • Dragon Pharmaceutical Inc. Announces 2002 Fourth Quarter and Full Year Results

    Dragon Pharmaceutical Inc. (TSX: DDD; OTC BB: DRUG) today announced results for the three-month and twelve-month periods ending December 31, 2002. 2002 Highlights Generated revenues of $7.36 million, representing significant growth from $3.07 million in 2001. Enhancement of gross margin in 2002 to 86.7% from 81% in 2001. Reported a first ever operating profit of […]

  • Dragon Announces Participation at Biopartnering Europe 2001

    Dragon Pharmaceuticals Inc. (OTC BB – DRUG.OB) is pleased to announce that it has been invited to present at the BioPartnering Europe 2001 conference to be held at the Queen Elizabeth II Conference Centre in London, England from October 14th to 16th, 2001. BioPartnering Europe is the premier European venue for showcasing innovative biopharmaceutical and […]

Dragon Pharma Suppliers

dragon pharma source
american steroids online
real dragon pharma supplier
dragon pharma for sale
dragon pharma legit supplier
buy dragon pharma
dragon pharma store
buy steroids
dragon pharma legit dragon pharma anabolics