Hong Kong, April 3, 2009 AEST (ABN Newswire) - Lee's Pharmaceutical (HKG:8221) specialises in R&D, manufacturing, sales and marketing of prescription drugs in China and HK. They focus on cardiovascular, gynaecological, dermatological and ophthalmology diseases treatments, with over 5,000 hospitals currently using their products nationwide.
Started in 1994, through many years of hard works, the company is now at a time of strong growth with many of their R&D come into their production stage. They have experienced fast growth in revenue and EPS in FY 2008, rising by 63.5% and 118% respectively.
Lee's Pharmaceutical's CEO Dr Benjamin Li said his company success is base on their extensive R&D, well established sales network and strategic partnership built up over the past years.
As China entering into the WTO in 2002, health care became a pressing issue for the Chinese government. Many new reforms were made in China to improve the overall health care delivering structure. Lee's Pharmaceutical is benefitted from these reforms as health care become more and more important and people are moving away from traditional Chinese medicine to more westernised hospital treatments.
Lee's Pharmaceutical specialises in manufacturing and importing prescription drugs used in hospitals. In 2008, the company revenue accounted for RMB 125.4 million, in which about 60% are self-manufactured and 40% are imported from their strategic partners in Europe, USA and Japan.
The major driving force of their growth in 2008 are the Slounase(r) and Carnitene(r) product lines, the sales revenue rose by 156% and 38% respectively. The company growth strategy is through deeper market penetration to established clients base with new products.
The company has 20 more new products currently under R&D, with at least 1 to 3 new products expected to be introduced to the market by the end of 2009.
The company has got a sound financial statement with a current ratio (Current Asset / Current Liability) of 2.73x and a strong cash flow with most of the transactions being done on COD terms.
Dr Li claims that the company has just entered its growth stage of the business cycle and he is certain that the growth trend will continue for many years to come.
About Dr Benjamin X.Y. Li
Dr Benjamin Li holds a bachelor degree in Medicine from the University of Traditional Chinese Medicine, China in 1984 and earned his PHD Degree in Pharmacology from the University of Illinois, USA in 1991. He co-found the Zhaoke Pharmacuetical (Hefei) Co., Ltd in 1994 and was appointed the CEO of Lee's Pharmaceutical Holdings Ltd since 2003. He is an active contributor to medical education and serves as a professor and lecturer at the University of Science & Technology of China. He has also published a number of medical related publications during his career. With his lead, the company has achieved an impressive average annual revenue growth of 46% per year over the last 5 years.
Contact
Investor Relations Contact
Ms. Susanne Luen
Tel: +852-2314-1282
Email: Susanne@leespharm.com
Website: http://www.leespharm.com
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