Hutchison China MediTech Limited
Hutchison China MediTech Limited (Chi-Med) is the holding company of a pharmaceutical and healthcare group, which is engaged in the research, development, manufacture and sale of pharmaceuticals, health supplements and other consumer health and personal care products derived from traditional Chinese medicine (TCM) and botanical ingredients. The Company operates in three main areas: China healthcare, which comprises the development, manufacture, distribution and sale of TCM pharmaceuticals and health supplements; consumer products business, which relates to TCM-based consumer products sold through retail stores, and drug research and development, which relates mainly to pharmaceutical research and development. The Company is developing Sen as a TCM consumer brand in TCM medicines and treatments, food and beverage, and skin and body care products through its own network of retail stores.
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Fourteen new Hutchison drugs added to Ministry of Health "essential" list
Hutchison China MediTech announced today that fourteen of its drugs have been added to a new list of 307 essential drugs compiled by the Ministry of Health in China.
The 307 drugs include 102 traditional Chinese medicine drugs, and it is expected that approximately 30% of all state owned grass-roots heath institutions in China will be equipped with the drugs by the Ministry.
"These health institutions would be directed to give priority to the listed drugs when treating patients. By 2020, all state-owned health institutions in urban and rural China would be required to give priority to the listed drugs," Hutchinson China MediTech stated.
The fourteen drugs manufactured by Hutchinson China MediTech and added to the list generated sales of US$53.1 million and net profit after tax and minority interests of US$6.6 million in the first six months of 2009. One of the drugs, She Xiang Bao Xin Pill, for cardiovascular disease, is only manufactured by the Company's joint venture Shanghai Hutchison Pharmaceuticals Limited. The other 13 drugs are manufactured by several companies in China.
Christian Hogg, Chief Executive Officer of Chi-Med, said, "Overall, we believe this is good news for Chi-Med. Since our 2006 flotation, our China Healthcare Division has recorded compound annual organic growth of 28% as well as improving operating profit margins from 0% in 2005 to 18% in the first half of 2009. Inclusion of our main drugs on the Essential Medicines List positions us well to continue this growth."
Chi-Med is focused on researching, developing, manufacturing, and selling pharmaceuticals, health supplements and other consumer health and personal care products derived from Traditional Chinese Medicine and botanical ingredients.
