28th Jan 2014 14:34
LONDON (Alliance News) - Taihua PLC Tuesday called on the Chinese government to move swiftly to implement new policies after warning that efforts to raise standards in China's pharmaceutical industry were hampering its efforts to expand the distribution of its products.
In a statement, the traditional Chinese medicine ingredients company said that distributors are currently uncertain about government policy. It is hoping that once new policy is implemented and clearly understood, it will be able to expand the distribution of its products.
China's pharmaceutical industry has been rocked following investigations into allegations of bribery by agents of pharmaceutical giant GlaxoSmithKline PLC.
Taihua said it had produced 1,528.6 tonnes of forsythia in 2013 after producing a maiden crop at its second plantation. However, the harvest was lower than in previous years due to adverse weather conditions.
Total sales from forsythia was RMB43.3 million, up from RMB27.2 million in the previous year.
Sales of Bian Tong Pian, used to treat constipation, dropped to CNY3.6 million, from CNY4.3 million.
Total sales of Traditional Chinese Medicines were CNY5.7 million, down from CNY6.6 million.
In terms of active pharmaceutical ingredient, sales of cancer treatment pacitaxel were CNY3.5 million.
However, sales of chronic myelogenous leukaemia treatment, homoharringtonine, were hurt by the Chinese Government failing to provide re accreditation to many injectable manufacturers, Taihua said.
Shares in Taihua were trading down 7.7% at 3.00 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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