Orient Europharma announces Q3 2009 financial results
EPS of NT$2.68
Taipei, Taiwan, Oct. 30, 2009 – Orient Europharma Co. Ltd. (OE, Taiwan OTC: 4120) today announced third quarter results. OE reported consolidated net sales of NT$2.82 billion, consolidated operating earnings of NT$310 million, and earnings Net sales in Taiwan amounted to NT$2.321 billion. Gross profit grew 3 percent, while operating profit totaled NT$287 million. After-tax net profits saw a slight increase of 2 percent to NT$183 million.
Oncology drugs are among the main drivers in today’s global pharmaceutical industry. OE’s oncology division reported Q3 sales of more than 20 percent compared with the same period last year. The company is currently developing pancreatic cancer drug Nanoplatin®, head and neck cancer drug Multikine®, as well as Loramyc®, an immunocompromised patients such as those with HIV and cancer.
Sales of hypertension drug Zanidip, Androgel testosterone gel, and diabetes combination therapy GlucoMet grew nearly 17 percent in Q3. As the first combination therapy in Taiwan for the treatment of diabetes mellitus developed by OE, GlucoMet contains micronized glyburide, which can lower blood glucose by stimulating the release of insulin, and metformin, which can control blood glucose by delaying its uptake and increasing its utilization. GlucoMet’s high efficacy, lower dosage requirement, and increased convenience have contributed to its continued sales OE’s consumer healthcare division focuses on preventative medicine and health maintenance, offering a diverse range of products in these areas. Division sales in the third quarter increased by 60 percent over the same period last year. OE also introduced Buccotherm dental spray as well as Buccotherm toothpaste, unique products based on France’s Castéra-Verduzan Thermal springwater that are suitable for all age groups. The potential of OE’s KariMed Pycnogenol series has been elevated as consumers became more health conscious due to the recent outbreak of The spread of seasonal allergies has heightened consumers’ interest in skin care products such as OE’s A-Derma series. Developed with the patented extract Rhealba the Oats, A-Derma skin care products are suitable for sensitive, irritated, and damaged skins. OE further expects to see an increase in sales of injectable hyaluronic acid products in the winter, which coincides with the peak season for dermo-cosmetics.
OE’s subsidiary Orient Pharma Co. Ltd. has been recognized as a “biotech and new pharmaceutical company” in accordance with Taiwan’s Biotech and New Pharmaceutical Development Act. The recognition proves that its personnel, technology and capital are up to standards. Orient Pharma is committed to the R&D, clinical studies, and manufacturing of pharmaceuticals. The construction of the new plant in Central Taiwan Science Park is due to complete, and OE-developed products will enter production phase next year.
Experience has shown that the fourth quarter is traditionally OE’s peak sales season and the company is optimistic about reaching annual goals. With Taiwan’s continued support for the biopharmaceutical industry, OE will keep expanding and enter the global market in order to create maximum business value.

Source: http://www.oep.com.tw/eng/investor/news_release/newsen091030.pdf

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