Taihua 5-Month Sales Rise To CNY11.6M, Mulls Buy Opportunities

30th Jun 2010 07:49

LONDON (Dow Jones)--Taihua PLC (TAIH.LN), a Chinese biochemical company, said Wednesday that sales in the period January to May were CNY11.6 million, an increase of CNY5.23 million compared with the same period last year. MAIN FACTS: -Company sold 6.02kg of Paclitaxel in the period January to May, an increase of 2.32kg compared with the same period last year; Sales revenue is CNY4.63 million, an increase of CNY1.78 million compared with the same period last year. -Company sold 3.04kg of Hommoharringtonine in the period January to May, an increase of 1.79 kg compared with the same period last year; Sales revenue is CNY5.19 million, an increase of CNY3.05 million compared with the same period last year. -Sales revenue of Traditional Chinese Medicines in the period January to May is CNY1.78 million, an increase of CNY400,000 compared with the same period last year with an growth rate of 29%. -Company continues to consider a number of acquisition opportunities. -Company is also continuing discussions with potential European distribution partners and can provide no further update at this time. -Company plans to actively market two of its TCMs (Biantong Tablet and Hugan Tablet) in the second half of this year. -Shares closed Tuesday at 9.38 pence valuing the company at GBP7.65 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [email protected] (END) Dow Jones Newswires June 30, 2010 02:49 ET (06:49 GMT)