China Pharmaceuticals posts profits in Q2
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China Pharmaceuticals Inc, one of China's leading manufacturers and distributors of prescription and over-the-counter pharmaceuticals, announced a record $10.4 million in revenue for the second quarter this year, a 105 percent increase year-on-year, along with a $5.4 million net income, up 208 percent over the same quarter last year, according to a statement filing to the the United States Securities and Exchange Commission on August 23.
Wang Guozhu, chairman and CEO of China Pharmaceuticals, believed that the company's new products and effective restructuring of sales and marketing network contributed to the strong performance.
The company also said revenue for the first six months this year increased 79 percent, to $17.5 million, and net income increased 69 percent to $6 million.
