Kelun Pharma net profit up 58 pct in Q1
Shanghai. April 26. INTERFAX-CHINA - Sichuan Kelun Pharmaceutical Co. Ltd. (Kelun Pharma) generated net profit of RMB 127.01 million ($19.48 million) in the first quarter (Q1) of 2011, up 58.22 percent year-on-year, the company announced April 26.
Kelun Pharma attributed the rise to a surge in sales revenue and to increased marketing of new products, such as plastic bottle infusions, according to the announcement.
The company's plastic bottle infusion projects in the provinces of Jiangxi and Hubei went on line at the end of last year, the announcement said. Plastic bottles infusions account for approximately 90 percent of all infusion products used in developed countries. In China they account for around 30 percent.
Excluding its subsidiaries, the company achieved sales revenue of RMB 671.07 million ($102.92 million) in Q1 of this year, an increase of 32.26 percent.
Kelun Pharma expects net profit in the first half (H1) of the year to grow by more than 50 percent year-on-year.
On April 22, the company kicked off construction on a 10,000-ton antibiotics factory in the Xinjiang Uyghur Autonomous Region's Yili Prefecture. The project requires a total investment of RMB 3.99 billion ($611.96 million).
- KZ