Tongjitang Chinese Medicines Company (NYSE: TCM) announced financial results for the quarter ended September 30, 2009. The net revenue was $15.3M and gross margin was 57.6% in Q3 compared to 62.4% in the same period of 2008. The net loss attributable to the Company was $2.0M, which yielded net loss per ADS of $0.06 and net loss per share of &$0.02.
Tongjitang Chinese Medicines Company (TCM) is a leading specialty pharmaceutical company focusing on the development, manufacturing, marketing and selling of modernized traditional Chinese medicine in China.
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The Q3 results from Tongjitang Chinese Medicines Company (?????) continue to show a decline in sales that has been going on for two years. Revenues dropped 5% lower in the quarter to $15.3 million, and net income moved from a $1.1 million profit in the year-earlier period to a $2 million loss. The main culprit for the decline was the company’s major product, the osteoporosis treatment Xianling Gubao (XLGB). Its sales fell 23% to $9 million in the quarter. More details..
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Tongjitang Chinese Med (TCM) is a specialty pharmaceutical company in China involved in modernized trad Chinese medicine. The flagship product, Xianling Gubao, is the leading
traditional Chinese medicine for the treatment of osteoporosis in China
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