Third quarter revenues for China Pharma Holdings, Inc. (OTCBB: CPHI) are projected to be between 40 and 45 percent, the company announced Thursday.
The Chinese company markets and manufactures generic and brand bio-pharmaceutical products. CHPI bases its adjusted forecast on recent healthy sales figures. Helpson Bio-pharmaceutical Co. Ltd. is a wholly-owned subsidiary of CPHI.
“We are very pleased that the sales this quarter have exceeded our prediction,” said Ms. Zhilin Li, China Pharma president and CEO. “This reflects the expansion of our sales force and our continued efforts to increase penetration of our distribution network. “We believe (our) revenue and earnings will maintain continued long-term growth and that this is the best reward for investors.”
Li said the company’s growth is in spite of tough global capital markets and ahead of what she said was a Chinese economy “tending toward a decline.”
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