August 30 -- Zhejiang Hisun Pharmaceutical (600267.SH) posted a 52.55 percent rise in net profit from the first half of 2011 to 227 million yuan, with earnings per share of 0.451 yuan, reports yicai.com, citing a company filing. Revenue increased 16.42 percent year-on-year to 2.487 billion yuan during the reporting period. Hisun Pharmaceutical’s gross margin fell 1.71 percent to 52.23 percent in the first six months. Percentage changes cited in this report are year-on-year.

The company, which is based in Taizhou city, ramped up construction of its export base. Its tablets and injection production facilities in Hangzhou will be operational by the end of 2012. It has signed a contract with Pfizer to set up a joint venture (JV) in the first six months of next year. An employee in Hisun Pharmaceutical said the company will build an export sales channel for its preparations through the JV. The company may build a new drug brand by collaborating with Pfizer in order to gain a foothold in the overseas market.

Hisun Pharmaceutical’s peers, such as Zhejiang Huahai Pharmaceutical (600521), Zhejiang Hisoar Pharmaceutical (002099) have also begun exporting their active pharmaceutical ingredient (API) recently.

Hisun Pharmaceutical has invested 656 million yuan in the construction of a medical preparation export base. The anti-tuberculosis drug production line is complete, while the production facilities for anti-tumor drugs are still under construction.

Source:capitalvue