StockNews - Star Pharmaceuticals announce record profits

Group revenue for Star Pharmaceutical increased 26.3% to RMB116.5m in FY05
that was due to strong contributions from its new products. At the same time, net profit increased by 21.2% to a record of RMB48.3m in FY05.

With the rapidly expanding pharmaceutical market in the PRC, the group is confident of achieving targets for the year 2006. This is because the company has up to 13 new products under development. On top of that, the ageing population, improvement in standard of living, as well as government promotion of the healthcare industry in the PRC are likely to drive higher demand and spending on pharmaceutical drugs in the PRC. The company's new launches in the 2nd half of FY05 would also be expected to contribute to higher revenues and profits in the coming year.