Simcere Pharmaceutical Group said Tuesday its second-quarter net income rose 91 percent, helped in part by sales growth for the cancer drugs Endu and Sinofuan and a drop in sales, marketing and distribution expenses.
The Chinese company earned 73.7 million yuan ($11.4 million), or 21 cents per American Depositary Share, in the three months that ended June 30. That compares with net income of 38.6 million yuan, or 10 cents per American Depositary Share, in last year’s quarter.
Revenue inched up less than 1 percent to 546.4 million yuan ($84.4 million) from 544.6 million yuan in 2010.
Sales of Endu climbed 30 percent to 70 million yuan, and Sinofuan revenue climbed 26 percent to 53 million yuan. Meanwhile, sales, marketing and distribution expenses fell 10 percent to 288.9 million yuan.
The company also said changes to government pricing policies hurt profit margins for some branded generic drugs, including the infection treatment Zailin.
U.S.-traded shares of the company climbed 19 cents, or 2 percent, to $9.69 in Tuesday morning trading.
