surf1944
11 years ago
11:54AM 3SBIO enters into amendment to merger agreement for going private transaction; increased to $16.70 per ADS from $15.40 per ADS; expected to close during Q2 (SSRX) 16.53 +0.21 : Pursuant to the Amendment, the merger consideration payable to holders of ordinary shares, par value $0.0001 per share, of the Company (the "Shares"), and holders of ADSs, under the Merger Agreement is increased from $2.20 per Share, or $15.40 per ADS, to $2.3857 per Share, or $16.70 per ADS. The increase in the merger consideration represents an approximately 8.4% premium to the original merger consideration under the Merger Agreement, 9.9% premium to the closing price of the ADSs on April 19, 2013, the last trading day prior to the Company's announcement on April 22, 2013 that it had received the revised "going private" proposal from the Buyer Consortium , and 44.1% premium to the closing price of the ADSs on September 11, 2012, the last trading day prior to the Company's announcement on September 12, 2012 that it had received the original "going private" proposal from the Buyer Consortium. Parent intends to finance the increase in the merger consideration through a combination of additional convertible note financing from CITIC PE and additional cash in the Company.
surf1944
11 years ago
5:32AM 3SBIO enters into merger agreement for 'going private' transaction (SSRX) 13.79 : Co announced that it has entered into an agreement and plan of merger with Decade Sunshine, an exempted co with limited liability incorporated under the laws of the Cayman Islands, and Decade Sunshine Merger Sub, an exempted co with limited liability incorporated under the laws of the Cayman Islands and a direct wholly owned subsidiary of Parent. Each of the co's ordinary shares, including Shares represented by ADSs, each representing seven Shares, issued and outstanding immediately prior to the effective time of the merger will be cancelled in exchange for the right to receive $2.20 in cash per Share, or $15.40 per ADS, without interest, except for (i) the Shares beneficially owned by Parent, Merger Sub or certain Shares beneficially owned by certain directors, officers or employees of the Company, and certain restricted shares and restricted share units issued by the Company to the Rollover Shareholders, (ii) the Shares beneficially owned by the Company or any direct or indirect wholly owned Subsidiary of the Company and (iii) the Shares owned by holders who have validly exercised and not effectively withdrawn or lost their appraisal rights pursuant to Section 238 of the Cayman Islands Companies Law, as amended. The per Share consideration of $2.20 or per ADS consideration of $15.40 represents a premium of ~ 32.9% over the closing price on September 11, 2012 and a 33.4% premium over the 30-trading day volume-weighted average closing price on September 11, 2012, the last trading day prior to the Company's announcement on September 12, 2012 that it had received a "going private" proposal from Dr. Jing Lou, chairman and chief executive officer of 3SBio, and CPEChina Fund, L.P., a China-focused private equity fund associated with CITIC Private Equity Funds Management Co. Ltd. Collectively, the Consortium Shares owned by the Buyer Group represent approximately 18.1% of the Company's total issued and outstanding share capital
surf1944
12 years ago
3SBio Inc. to Present at the UBS Greater China Conference 2012
PR NewswirePress Release: 3SBio Inc. – Mon, Jan 9, 2012 8:07 AM EST
SHENYANG, China , Jan. 9, 2012 /PRNewswire-Asia-FirstCall/ -- 3SBio Inc. (NASDAQ: SSRX - News) ("3SBio" or "the Company"), a leading China -based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced Mr. Bo Tan , 3SBio's chief financial officer will attend the UBS Greater China Conference 2012 in Shanghai on January 11, 2012 . A copy of Mr. Tan's presentation will be archived at www.3sbio.com under the investor relations section.
About 3SBio Inc.
3SBio is a leading, fully integrated, profitable biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products primarily in China . Its focus is on addressing large markets with significant unmet medical needs in nephrology, oncology, supportive cancer care, inflammation and infectious diseases. With headquarters and MP-certified manufacturing facilities in Shenyang , PRC, 3SBio employs over 800 people. Shares trade in the form of American Depositary Shares (ADSs) on the NASDAQ stock market under the ticker symbol "SSRX". Please see www.3SBio.com for more information.
Investor Contacts
Bo Tan
Chief Financial Officer
3SBio Inc.
Tel: + 86 24 2581-1820
ir@3SBio.com
Tom Folinsbee
Director of Investor Relations
3SBio Inc.
Tel: + 852 8191-6991
ir@3SBio.com
surf1944
12 years ago
3SBio Inc. Schedules Unaudited Third Quarter 2011 Results
Press Release Source: 3SBio Inc. On Thursday October 20, 2011, 2:59 am EDT
SHENYANG, China, Oct. 20, 2011 /PRNewswire-Asia-FirstCall/ -- 3SBio Inc. (NASDAQ:SSRX - News) ("3SBio" or "the Company"), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced that it will release its unaudited third quarter 2011 results after the NASDAQ stock market closes on Thursday, November 10, 2011 at 8:00pm (US Eastern).
Following the earnings announcement, 3SBio's senior management will host a conference call on Friday, November 11, 2011 at 5:00am (US Pacific) / 8:00am (US Eastern) / 9:00pm (Beijing) to discuss its unaudited third quarter 2011 results and recent business activity. The conference call may be accessed using the dial-in numbers below:
Conference ID: 20435297
Local dial-in:
China landline: 800-819-0121
China mobile: 400-620-8038
Hong Kong : 852-2475-0994
United States: 718-354-1231
International toll-free dial-in:
Hong Kong: 800930346
United States: 1-866-519-4004
United Kingdom: 080-8234-6646
International toll dial-in: 65 6723 9381
Replay- Conference ID: 20435297
A telephone replay will be available two hours after the call until November 19, 2011 at:
International: 61-2-8235-5000
United States: 1-866-214-5335
Webcast
A live webcast of the conference will be available on the investor relations section of 3SBio's website at www.3sbio.com and at http://www.media-server.com/m/p/6f58cija.
A replay of the webcast will be available within one hour after the conclusion of the call.
surf1944
14 years ago
3SBio and Ascentage Pharma Form Strategic Alliance to Research, Develop and Commercialize Cancer Therapeutics
Press Release Source: 3SBio Inc. On Thursday February 11, 2010, 8:00 pm EST
SHENYANG, China, Feb. 11 /PRNewswire-Asia-FirstCall/ -- 3SBio Inc. (Nasdaq:SSRX - News) ("3SBio" or "the Company"), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, and Ascentage Pharma Group Corporation, Ltd. ("Ascentage Pharma") announced today that they have formed a strategic alliance to research, develop and commercialize best-in-class targeted cancer therapeutics focusing on programmed cell death, or apoptosis. The alliance will leverage Ascentage Pharma's expertise in structure-based small molecule design, lead optimization and preclinical development with 3SBio's proven drug development and commercialization capabilities in China.
Under the terms of the agreement, 3SBio will make a US$3 million equity investment in Ascentage Pharma. The investment will be used to fund Ascentage Pharma's R&D programs. 3SBio will have the exclusive right to develop and commercialize cancer therapeutics in China that are discovered through Ascentage Pharma programs, while Ascentage Pharma will retain the rights to the rest of the world and receive future milestone and royalty payments from any sales by 3SBio in China.
"The collaboration with Ascentage Pharma represents a key strategic initiative for 3SBio to develop our pipeline in the area of cancer therapeutics," said Dr. Jing Lou, CEO of 3SBio. "This investment allows 3SBio to gain access to the best external science and small molecule drug discovery platform in China."
"Apoptosis targeted small molecule has the potential to play a key role in the next generation of highly effective targeted cancer drugs," said Dr. Dajun Yang, CEO of Ascentage Pharma. "We believe that this 'win-win' collaboration will generate innovative medicines that benefits patients worldwide."
surf1944
14 years ago
3SBio Gains China Rights to Another Dialysis Drug
3SBio Inc. (NSDQ: SSRX) in-licensed the China rights to a phosphate binder, Nephoxil, from Panacor Bioscience Ltd. of Taiwan. Phosphate binders are routinely prescribed for end stage renal disease, the same population served by 3SBio’s major products, the recombinant anemia drugs EPIAO and TPIAO.
3SBio paid $1 million to Panacor for the rights to Nephoxil and will be responsible for all costs of gaining approval of the drug in China. It will also pay royalties on any sales of Nephoxil, once it is approved. Further details of the transaction were not disclosed.
Panacor says Nephoxil has completed Phase II trials successfully, though not in China. It has now begun Phase III trials in the US, Japan and Taiwan.
Last month, 3SBio announced it had applied to the SFDA for permission to conduct a registrational trial for another in-licensed drug for patients with kidney disease: Feraheme (ferumoxytol) Injection, an IV treatment for iron deficiency anemia. 3SBio licensed the China rights for the drug from AMAG Pharmaceuticals (NSDQ: AMAG) in May 2009.
According to 3SBio, Nephoxil (ferric citrate) is a differentiated, iron-based phosphate binder for the treatment of hyperphosphatemia (elevated phosphate levels) in patients with end stage renal disease (ESRD). Nephoxil is free of aluminum, lanthanum and calcium, and is not polymer-based. Due to the deterioration of kidney function, ESRD patients are unable to excrete phosphorus effectively even through frequent dialysis. Almost all patients require daily phosphate binder intake to control body phosphate levels.
China has about 12 million Stage 3 and 4 chronic kidney disease (CKD) patients, and over 91,000 dialysis patients.
surf1944
14 years ago
3SBio Inc. Applies for SFDA Registrational Trial for Feraheme(TM)
Press Release Source: 3SBio Inc. On Friday January 8, 2010, 4:12 am EST
SHENYANG, China, Jan. 8 /PRNewswire-Asia-FirstCall/ -- 3SBio Inc. (Nasdaq: SSRX), a leading biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products primarily in China, today announced that it has submitted its application for a registrational clinical trial to the Chinese State Food and Drug Administration ("SFDA") for Feraheme (ferumoxytol) Injection for intravenous use. Feraheme is an intravenous iron therapy that 3SBio licensed from AMAG Pharmaceuticals, Inc. (Nasdaq: AMAG) for development in China for the treatment of iron deficiency anemia in adult patients with chronic kidney disease ("CKD").
Feraheme was approved on June 30, 2009 by the U.S. Food and Drug Administration for the same indication for which 3SBio is seeking approval in China and launched commercially in the U.S. by AMAG in July 2009. As previously announced, 3SBio has exclusive rights to develop and commercialize Feraheme in China. Once approved by the SFDA, 3SBio will commence a multi-center randomized efficacy and safety study in China with approximately 200 CKD patients, measuring the mean change in hemoglobin from baseline at Day 35 after first dose.
Dr. Jing Lou, Chief Executive Officer of 3SBio comments: "We are pleased with the timely submission of the Feraheme clinical trial application to the SFDA in China, representing a major milestone and our commitment to bringing this innovative therapy to Chinese CKD patients in need. We look forward to working with the SFDA to ensure an efficient review process."
Brian J.G. Pereira, MD, President and Chief Executive Officer of AMAG Pharmaceuticals comments: "3SBio is the ideal partner to bring Feraheme to iron deficiency anemia patients with chronic kidney disease in China. This step represents an important milestone in our efforts to broaden the global reach of Feraheme."
Important Safety Information about Feraheme
Feraheme is contraindicated in patients with evidence of iron overload, known hypersensitivity to Feraheme or any of its components, and patients with anemia not caused by iron deficiency.
In clinical studies, hypotension was reported in 1.9% (33/1,726) of subjects receiving Feraheme, including three patients with serious hypotensive reactions. Serious hypersensitivity reactions were reported in 0.2% (3/1726) of patients. Patients should be observed for signs and symptoms of hypersensitivity for at least 30 minutes following Feraheme injection and the drug should only be administered when treatment of hypersensitivity reactions is readily available. Excessive therapy with parenteral iron can lead to excess storage of iron with the possibility of iatrogenic hemosiderosis. Patients should be regularly monitored for hematologic response during parenteral iron therapy. As a superparamagnetic iron oxide, Feraheme may transiently affect magnetic resonance diagnostic imaging but will not affect X-ray, CT, PET, SPECT, ultrasound, or nuclear imaging.
In clinical trials, the most commonly occurring adverse reactions in Feraheme treated patients versus oral iron treated patients were diarrhea, nausea, dizziness, hypotension, constipation and peripheral edema.
surf1944
14 years ago
3SBio Inc. Announces Unaudited Third Quarter 2009 Results
Third quarter revenue grew 35.8% year-over-year to RMB92.6 million (US$13.6 million); Operating income grew 37.8% year-over-year to RMB28.5 million (US$4.2 million); Company reiterates FY2009 revenue guidance
Press Release
Source: 3SBio Inc.
On 5:58 pm EST, Thursday November 12, 2009
Companies:3sbio Inc.
SHENYANG, China, Nov. 12 /PRNewswire-Asia-FirstCall/ -- 3SBio Inc. (Nasdaq: SSRX - News; "3SBio" or "the Company"), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced its unaudited financial results for the third quarter ended September 30, 2009.
Third Quarter 2009 Financial Highlights:
-- Total net revenues increased by 35.8% over the third quarter of 2008 to
RMB92.6 million (US$13.6 million).
-- Operating income increased by 37.8% over the third quarter of 2008 to
RMB28.5 million (US$4.2 million) on a GAAP basis, and increased by
34.7% over the third quarter of 2008 to RMB29.8 million (US$4.4
million) on a non-GAAP basis.
-- Net income increased by 1343.5% over the third quarter of 2008 to
RMB26.9 million (US$3.9 million) on a GAAP basis, and increased by
25.6% over the third quarter of 2008 to RMB28.2 million (US$4.1
million) on a non-GAAP basis.
-- Net income per American Depositary Share ("ADS") for the third quarter
of 2009 was RMB1.25 (US$0.18) compared with RMB0.09 (US$0.01) for the
third quarter of 2008 on a GAAP basis, and RMB1.31 (US$0.19) for the
third quarter of 2009 compared with RMB1.03 (US$0.15) for the third
quarter of 2008 on a non-GAAP basis.
First Nine Months 2009 Financial Highlights:
-- Total net revenues in the first nine months of 2009 increased by 32.5%
to RMB242.6 million (US$35.5 million) compared to RMB183.2 million
(US$27.0 million) in the first nine months of 2008.
-- Operating income increased by 48.6% over the first nine months of 2008
to RMB74.5 million (US$10.9 million) on a GAAP basis, and increased by
44.3% to RMB77.5 million (US$11.4 million) on a non-GAAP basis.
-- Net income increased by 70.2% over the first nine months of 2008 to
RMB69.8 million (US$10.2 million) on a GAAP basis, and increased by
19.0% over the first nine months of 2008 to RMB75.8 million (US$11.1
million) on a non-GAAP basis.
-- Net income per ADS on a fully-diluted basis for the first nine months
of 2009 was RMB3.24 (US$0.47) compared with RMB1.89 (US$0.28) for the
first nine months of 2008 on a GAAP basis, and RMB3.52 (US$0.52)
compared with RMB2.93 (US$0.43) for the first nine months of 2008 on a
non-GAAP basis.
Third Quarter 2009 Business Highlights
-- EPIAO, the Company's flagship injectable recombinant human
erythropoietin ("EPO") product, demonstrated strong growth with net
revenue from EPIAO in the third quarter of 2009 rising 32.6% to RMB56.6
million (US$8.3 million) compared to RMB42.7 million (US$6.3 million)
in the third quarter of 2008.
-- Net revenues for TPIAO, the Company's novel recombinant human
thrombopoietin ("TPO") product, increased by 41.3% to RMB27.9 million
(US$4.1 million) in the third quarter of 2009, compared to RMB19.7
million (US$2.9 million) in the third quarter of 2008.
-- Construction of the new EPIAO and TPIAO manufacturing plant in Shenyang
remains on schedule for completion this year in preparation for
validation and certification next year.
-- Dr. Jing Lou, chief executive officer of 3SBio, commented:
"Overall, the business is performing as expected with a strong set of
results this quarter and we reiterate our full-year guidance of
US$43-45 million. Construction of our new plant remains on schedule and
we look forward to moving to validation and certification next year. We
continued to develop our product pipeline and will update the market
when we have reached significant milestones in the approval process."
Three months ended September 30, 2009 Unaudited Financial Results
Net revenues. Net revenues increased by 35.8% to RMB92.6 million (US$13.6 million) for the third quarter of 2009 from RMB68.2 million (US$10.0 million) for the same period in 2008. This increase was largely due to continued strength from EPIAO and TPIAO products, which increased by 32.6% and 41.3%, respectively, over the same period in 2008. TPIAO remained 3SBio's second largest revenue contributor in the quarter, accounting for 30.1% of total net revenues. Export sales declined by 6.4% to RMB2.3 million (US$0.3 million), and revenues from our in-licensed IV Iron Sucrose supplement rose 113.7% to RMB3.7 million (US$0.5 million).
Gross profit. As a result of continued sales growth from key products, GAAP gross profit for the third quarter of 2009 increased by 38.3% to RMB86.1 million (US$12.6 million) from RMB62.2 million (US$9.2 million) for the same period in 2008. GAAP gross margin increased by 1.7% to 93.0% for the third quarter of 2009 from 91.3% for the same period in 2008.
Operating expenses. GAAP operating expenses were RMB57.6 million (US$8.4 million) for the third quarter of 2009, an increase of 38.6% from GAAP operating expenses of RMB41.5 million (US$6.1 million) for the same period in 2008. Non-GAAP operating expenses were RMB56.4 million (US$8.3 million) for the third quarter of 2009, an increase of 40.3% from non-GAAP operating expenses of RMB40.2 million (US$5.9 million) for the same period in 2008. The increase in operating expenses was largely driven by higher R&D expenses, particularly at the early stage of the pipeline.
-- Research and development ("R&D") costs. GAAP R&D costs for the third
quarter of 2009 were RMB7.6 million (US$1.1 million), or 8.2% of net
revenue, compared to RMB4.2 million (US$0.6 million), or 6.2% of net
revenue for the same period in 2008.
-- Sales, marketing and distribution expense. GAAP sales, marketing and
distribution expenses for the third quarter of 2009 were RMB41.6
million (US$6.1 million), or 44.9% of net revenue, compared to RMB29.3
million (US$4.3 million), or 42.9% of net revenue, for the same period
in 2008. The increase was primarily attributable to higher sales
activities in general and continued investment in building the TPIAO
and EPIAO brands.
-- General and administrative expenses. GAAP general and administrative
expenses for the third quarter of 2009 were RMB8.4 million (US$1.2
million), representing an increase of 4.6% from general and
administrative expenses of RMB8.0 million (US$1.2 million) for the same
period in 2008. This marked a decline to 9.1% of net revenue for the
third quarter of 2009, compared to 11.8% of net revenue for the third
quarter of 2008.
Operating income. GAAP operating income was RMB28.5 million (US$4.2 million) for the third quarter of 2009, an increase of 37.8% from operating income of RMB20.7 million (US$3.1 million) for the same period in 2008. Non-GAAP operating income for the third quarter of 2009 grew by 34.7% to RMB29.8 million (US$4.4 million), compared to RMB22.1 million (US$3.3 million) in the third quarter of 2008.
GAAP operating margin for the third quarter of 2009 was 30.8% as compared to 30.4% for the same period in 2008. Non-GAAP operating margin was 32.2% for the third quarter of 2009, as compared to 32.4% in the same period in 2008.
Interest income. The Company recorded net interest income of RMB2.6 million (US$0.4 million) for the third quarter of 2009, compared to RMB5.5 million (US$0.8 million) for the same period in 2008.
Net income. GAAP net income was RMB26.9 million (US$3.9 million) for the third quarter of 2009, 1343.5% higher than net income of RMB1.9 million (US$0.3 million) for the same period in 2008. GAAP net income per ADS on a fully-diluted basis for the third quarter of 2009 increased to RMB1.25 (US$0.18) from RMB0.09 (US$0.01) for the same period in 2008. GAAP net margin for the third quarter of 2009 was 29.1% as compared to 2.7% for the same period in 2008.
Non-GAAP net income for the third quarter of 2009 was RMB28.2 million (US$4.1 million), 25.6% higher than non-GAAP net income of RMB22.4 million (US$3.3 million) for the same period in 2008. Non-GAAP net income per ADS on a fully diluted basis for the third quarter of 2009 increased to RMB1.31 (US$0.19) from RMB1.03 (US$0.15) for the same period in 2008. Non-GAAP net margin for the third quarter of 2009 was 30.4% as compared to 32.9% for the same period in 2008.
Nine months ended September 30, 2009 Unaudited Financial Results
Net revenues. Net revenues for the first nine months of 2009 increased by 32.5% to RMB242.6 million (US$35.5 million), from RMB183.2 million (US$27.0 million) for the same period in 2008. The increase was primarily attributable to increased sales from our EPIAO and TPIAO products, underpinned by continued strong demand in the oncology and nephrology markets.
Net revenues from EPIAO for the first nine months of 2009 increased by 30.6% to RMB150.5 million (US$22.1 million) from RMB115.2 million (US$17.0 million) for same period in 2008. Net revenues from TPIAO in the first nine months of 2009 increased by 34.4% to RMB68.8 million (US$10.1 million) from RMB51.2 million (US$7.5 million) for the same period in 2008. In addition, revenue from our export business was RMB9.1 million (US$1.3 million), representing an increase of 27.9% over the first nine months of 2008, while revenue from our in-licensed IV Iron Sucrose supplement was RMB8.7 million (US$1.3 million), representing an increase of 67.7% over the first nine months of 2008.
Gross profit. GAAP gross profit for the first nine months of 2009 increased by 33.9% to RMB223.7 million (US$32.8 million) from RMB167.1 million (US$24.6 million) for the same period in 2008. GAAP gross margin increased by 1.0% to 92.2% for the first nine month months of 2009 from 91.2% for the same period in 2008.
Operating income. For the first nine months ended September 30, 2009, GAAP operating income increased by 48.6% to RMB74.5 million (US$10.9 million), compared to RMB50.1 million (US$7.4 million) for the same period in 2008. Non- GAAP operating income increased by 44.3% to RMB77.5 million (US$11.4 million), compared to RMB53.7 million (US$7.9 million) for the same period in 2008.
GAAP operating margin for the first nine months ended September 30, 2009 was 30.7% as compared to 27.3% for the nine months ended September 30, 2008. Non-GAAP operating margin was 31.9% for the nine months ended September 30, 2009, as compared to 29.3% in the same period in 2008.
Net income. GAAP net income for the first nine months of 2009 increased by 70.2% to RMB69.8 million (US$10.2 million) compared with RMB41.0 million (US$6.0 million) for the same period in 2008. GAAP net margin for the first nine months ended September 30, 2009 was 28.8% as compared to 22.4% for the same period in 2008. GAAP net income per ADS on a fully diluted basis for the first nine months of 2009 increased to RMB3.24 (US$0.47) from RMB1.89 (US$0.28) for the same period in 2008.
Non-GAAP net income for the first nine months of 2009 increased by 19.0% to RMB75.8 million (US$11.1 million) compared with RMB63.7 million (US$9.4 million) for the same period in 2008. Non-GAAP net margin for the first nine months ended September 30, 2009 was 31.2% as compared to 34.8% for the same period in 2008. Non-GAAP net income per ADS for the first nine months of 2009 increased to RMB3.52 (US$0.52) from RMB2.93 (US$0.43) for the same period in 2008.
Cash and cash equivalents / Time deposits. 3SBio had positive operating cash flows of RMB61.6 million (US$9.0 million) for the first nine months of 2009, and as of September 30, 2009 retained a strong balance sheet with cash, cash equivalents and time deposits of RMB731.5 million (US$107.2 million), a 0.2% decrease from RMB733.0 million (US$107.4 million) as of December 31, 2008.
2009 Full Year Guidance
Based on current market conditions and visibility provided during the third quarter, the Company reiterates its total net revenue target for the full year of 2009 of between US$43 million to US$45 million, resulting in a year-over-year increase of approximately 21% to 26%.
Conference Call
3SBio's senior management will host a conference call at 5:00 am (Pacific) / 8:00 am (Eastern) / 9:00 pm (Beijing/Hong Kong) on November 13, 2009 to discuss its 2009 third quarter financial results and recent business activity. The conference call may be accessed using the dial-in numbers below:
Conference ID: 38479039
Local dial-in:
China - landline 800-819-0121
China - mobile 400-620-8038
International toll-free dial-in:
Hong Kong 800930346
United Kingdom 080-8234-6646
United States 1-866-519-4004
International toll dial-in: 65-6735-7955
Replay- Conference ID: 38479039
A telephone replay will be available two hours after the call until
November 20, 2009, at:
International dial-in: +61-2-8235-5000
United States dial-in: 1-866-214-5335
Webcast
A live webcast of the conference will be available on the investor relations page of 3SBio's website at http://bbs.3sbio.com/en/News/xinvestors.aspx and at http://tinyurl.com/yf93ntk . A replay of the webcast will be available within one hour after the conclusion of the call.
surf1944
15 years ago
3SBio Inc. Announces Unaudited Second Quarter 2009 Results
Second quarter revenue grew 36.8% year-over-year to RMB81.5 million (US$11.9million) Operating income grew 69.9% year-over-year to RMB25.8 million (US$3.8 million) Company reiterates FY2009 revenue guidance
Press Release
Source: 3SBio Inc.
On Tuesday August 11, 2009, 5:00 pm EDT
Companies:3SBio Inc.
SHENYANG, China, Aug. 11 /PRNewswire-Asia-FirstCall/ -- 3SBio Inc. (Nasdaq: SSRX - News; "3SBio" or "the Company"), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced its unaudited financial results for the second quarter ended June 30, 2009.
Second Quarter 2009 Financial Highlights:
-- Total net revenues increased by 36.8% over the second quarter of 2008
to RMB81.5 million (US$11.9 million).
-- Operating income increased by 69.9% over the second quarter of 2008 to
RMB25.8 million (US$3.8million) on a GAAP basis, and increased by 60.1%
over the second quarter of 2008 to RMB27.1 million (US$4.0 million) on
a non-GAAP basis.
-- Net income increased by 39.2% over the second quarter of 2008 to
RMB27.0 million (US$4.0 million) on a GAAP basis, and increased by
26.3% over the second quarter of 2008 to RMB26.7 million
(US$3.9 million) on a non-GAAP basis.
-- Net income per American Depositary Share ("ADS") for the second quarter
of 2009 was RMB1.25 (US$0.18) compared with RMB0.89 (US$0.13) for the
second quarter of 2008 on a GAAP basis, and RMB1.24 (US$0.18) for the
second quarter of 2009 compared with RMB0.97 (US$0.14) for the second
quarter of 2008 on a non-GAAP basis.
First Half 2009 Financial Highlights:
-- Total net revenues increased by 30.5% over the first half of 2008 to
RMB150.1 million (US$22.0 million).
-- Operating income increased by 56.3% over the first half of 2008 to
RMB 45.9 million (US$6.7 million) on a GAAP basis, and increased by
51.1% to RMB 47.7 million (US$7.0 million) on a non-GAAP basis.
-- Net income increased by 9.5% over the first half of 2008 to
RMB42.9 million (US$6.3 million) on a GAAP basis, and increased 15.3%
over the first half of 2008 to RMB47.7 million (US$7.0 million) on a
non-GAAP basis.
-- Net income per ADS for the first half of 2009 was RMB1.99 (US$0.29)
compared with RMB1.80 (US$0.26) for the first half of 2008 on a GAAP
basis, and RMB2.21 (US$0.32) compared with RMB1.90 (US$0.28) for the
first half of 2008 on a non-GAAP basis.
Second Quarter 2009 Business Highlights
-- EPIAO, the Company's flagship injectable recombinant human
erythropoietin ("EPO") products, demonstrated strong growth with net
revenue from EPIAO rising 37.6% over the second quarter of 2008 to
RMB51.1 million (US$7.5million) in the second quarter of 2009.
-- TPIAO net revenue increased by 38.4% to RMB22.2million (US$3.3 million)
in the second quarter of 2009. TPIAO, the Company's protein-based
therapeutic recombinant human thrombopoietin ("TPO") product.
-- 3SBio continued to work closely with the State Food and Drug
Administration ("SFDA") to advance the regulatory approval of the three
new product programs submitted in 2008: 36,000 IU dosage formulation of
EPIAO, NuLeusin, and TPIAO label extension for the treatment of ITP.
-- Construction continued on schedule for the Company's new EPIAO plant,
which will support the future growth of EPIAO and serve as the first
step towards exploring global biosimilar opportunities. In June, Mr
Deyu Kong joined 3SBio as Director -- Manufacture and Process, and will
be based in Shenyang. Mr Kong brings a wealth of manufacturing
experience under US and EU compliant manufacturing environments.
-- While exports account for a small portion of revenue and the company
remains focused on its core business in China, 3SBio and its products
EPIAO and TPIAO continue to be recognized by more physicians and
patients in overseas markets. First half export sales grew 45.7%
year-over-year and have already exceeded overseas sales for all of 2008.
Dr. Jing Lou, chief executive officer of 3SBio, commented: "We had a good quarter with an encouraging trend in our operating performance. Sales of our leading products, EPIAO and TPIAO both grew by over 37% due to the strong growth of the dialysis market and our continued efforts to raise awareness of 3SBio in the oncology segment of the market. Our share of the Chinese EPO market now exceeds that of our five closest competitors combined and we reiterate our 2009 revenue guidance. I am pleased to have Mr. Deyu Kong join us as Director -- Manufacture and Process. He will be based in Shenyang where we are expanding our manufacturing capacity at least four-fold. Mr Kong's experience with international biotech manufacturing protocols will help us as we explore biosimilar opportunities in the EU and US."
Three months ended June 30, 2009 Unaudited Financial Results
Net revenues. Net revenues increased by 36.8% to RMB81.5 million (US$11.9 million) for the second quarter of 2009 from RMB59.6 million (US$8.7 million) for the same period in 2008. This increase was largely due to continued strength from EPIAO and TPIAO products which increased by 37.6% and 38.4%, respectively, over the same period in 2008. The growth in sales from EPIAO was driven in part by an expanded oncology sales force, which continued to perform well. TPIAO remained 3SBio's second largest revenue contributor in the quarter, accounting for 27.3% of total net revenues. Export sales grew by 25.5% to RMB3.5 million (US$0.5 million), and sales of 3SBio's IV Iron Sucrose rose 42.7% to RMB3.0 million (US$0.4 million).
Gross profit. As a result of continued sales growth from key products, gross profit increased by 38.1% to RMB75.0 million (US$11.0 million) for the second quarter of 2009 from RMB54.3 million (US$7.9 million) for the same period in 2008. Gross margin increased by 0.9% to 92.0% for the second quarter of 2009 from 91.1% for the same period in 2008.
Operating expenses. GAAP operating expenses were RMB49.2 million (US$7.2 million) for the second quarter of 2009, an increase of 25.8% from GAAP operating expenses of RMB39.1 million (US$5.7 million) for the same period in 2008. Non-GAAP operating expenses were RMB48.0 million (US$7.0 million) for the second quarter of 2009, an increase of 28.2% from non-GAAP operating expenses of RMB37.4 million (US$ 5.5 million) for the same period in 2008. The increase in operating expenses was largely driven by higher sales and marketing expenses.
-- Research and development ("R&D") costs. GAAP R&D costs for the second
quarter of 2009 were RMB4.3 million (US$0.6 million), or 5.2% of net
revenue, compared to RMB3.0 million (US$0.4 million), or 5.1% of net
revenue for the same period in 2008.
-- Sales, marketing and distribution expense. GAAP sales, marketing and
distribution expenses for the second quarter of 2009 were
RMB36.2 million (US$5.3 million), compared to RMB26.6 million
(US$3.9 million) for the same period in 2008. The increase was
primarily attributable to higher sales activities in general, continued
investment in building the TPIAO brand and EPIAO penetration of the
oncology market. This represented 44.5% of net revenue, almost
unchanged from 44.6% for the same period in 2008.
-- General and administrative expenses. GAAP general and administrative
expenses for the second quarter of 2009 were RMB8.7 million
(US$1.3 million), representing a decrease of 8.7% from general and
administrative expenses of RMB9.5million (US$1.4 million) for the same
period in 2008. This marked a decline to 10.6% of net revenue for the
second quarter of 2009, compared to 15.9% of net revenue for the second
quarter of 2008.
Operating income. GAAP operating income was RMB25.8 million (US$3.8 million) for the second quarter of 2009, an increase of 69.9% from operating income of RMB15.2 million (US$2.2 million) for the same period in 2008. Non-GAAP operating income for the second quarter of 2009 grew by 60.1% to RMB27.1 million (US$4.0 million), compared to RMB 17.0 million (US$2.5 million) in the second quarter of 2008.
Interest income. The Company recorded net interest income of RMB2.5 million (US$0.4 million) for the second quarter of 2009, compared to RMB5.2 million (US$0.8 million) for the same period in 2008. As experienced in the first quarter of 2009, the decrease in interest income was partially due to the decrease in the prevailing market interest rates in the second quarter of 2009, compared to the same period in 2008.
Net income. GAAP net income was RMB27.0 million (US$4.0 million) for the second quarter of 2009, 39.2% higher than net income of RMB19.4 million (US$2.8 million) for the same period in 2008. Non-GAAP net income for the second quarter of 2009 was RMB26.7 million (US$3.9 million), 26.3% higher than non-GAAP net income of RMB21.1 million (US$3.1 million) for the second quarter of 2008.
Six months ended June 30, 2009 Unaudited Financial Results
Net revenues. Our net revenues increased by RMB35.1 million, or 30.5%, from RMB115.0 million (US$16.8 million) for the six months ended June 30, 2008 to RMB150.1 million (US$22.0 million) for the six months ended June 30, 2009. The increase was primarily attributable to increased sales from our EPIAO and TPIAO products, underpinned by continued strong demand in the oncology and nephrology markets.
Net revenues from EPIAO increased by RMB21.4 million, or 29.5%, to RMB94.0 million (US$13.8 million) for the six months ended June 30, 2009. Net revenues from TPIAO increased by RMB9.5 million, or 30.0%, to RMB40.9 million (US$6.0 million) for the six months ended June 30, 2009. In addition, revenue from our export business was RMB6.9 million (US$1.0 million), representing an increase of 45.7% over the first half of 2008, while revenue from our in-licensed Iron Sucrose supplement was RMB5.0 million (US$0.7 million), representing an increase of 44.6% over the first half of 2008.
Operating income. For the six months ended June 30, 2009, GAAP operating income increased by 56.3% to RMB45.9 million (US$6.7 million), compared to RMB29.4 million (US$4.3 million) for the same period in 2008. year. Non-GAAP operating income increased by 51.1% to RMB47.7 million (US$7.0 million), compared to RMB31.6 million (US$4.6 million) for the same period in 2008.
GAAP operating margin for the six months ended June 30, 2009 was 30.6% as compared to 25.5% for the six months ended June 30, 2008. Non-GAAP operating margin was 31.8% for the six months ended June 30, 2009, as compared to 27.4% in the same period in 2008.
Net income. GAAP net income for the first half of 2009 increased by RMB3.7 million, or 9.5%, to RMB42.9 million (US$6.3million) compared with RMB39.1 million (US$5.7 million) for the same period in 2008. GAAP net margin for the six months ended June 30, 2009 was 28.6% as compared to 34.0% for the six months ended June 30, 2008. GAAP net income per ADS for the first half of 2009 increased to RMB1.99 (US$0.29) from RMB1.80 (US$0.26) for the corresponding period in 2008.
Non-GAAP net income for the first half of 2009 increased by RMB6.3 million, or 15.3%, to RMB47.7 million (US$7.0 million) compared with RMB41.3 million (US$6.0 million) for the same period in 2008. Non-GAAP net margin for the six months ended June 30, 2009 was 31.8% as compared to 35.9% for the six months ended June 30, 2008. Non-GAAP net income per ADS for the first half of 2009 increased to RMB2.21 (US$0.32) from RMB1.90 (US$0.28) for the corresponding period in 2008.
Cash and cash equivalents / Time deposits. 3SBio had positive operating cash flows of RMB 33.2 million (US$4.9 million) for the first half of 2009, and as of June 30, 2009 retained a strong balance sheet with cash, cash equivalents and time deposits of RMB756.1 million (US$110.7 million), a 3.1% increase from RMB733.0 million (US$107.4 million) as of December 31, 2008.
2009 Full Year Guidance
Based on current market conditions and visibility provided during the second quarter, the Company reiterates its total net revenue target for the full year of 2009 of between US$43 million to US$45 million, resulting in a year-over-year increase of approximately 21% to 26%.
Conference Call
3SBio's senior management will host a conference call at 5:00 am (Pacific) / 8:00 am (Eastern) / 8:00 pm (Beijing/Hong Kong) on Wednesday, August 12, 2009 to discuss its 2009 second quarter financial results and recent business activity. The conference call may be accessed using the dial-in numbers below:
Conference ID: 21352657
Local dial-in:
China - landline 800-819-0121
China - mobile 400-620-8038
International toll-free dial-in:
Hong Kong 800933053
United Kingdom 080-8234-6646
United States 1-866-519-4004
International toll dial-in: 65-6735-7955
surf1944
15 years ago
3SBio Inc. to Report 2009 Second Quarter Earnings on August 11, 2009
Press Release
Source: 3SBio Inc.
On Thursday July 23, 2009, 3:59 am EDT
Companies:3SBio Inc.
SHENYANG, China, July 23 /PRNewswire-Asia-FirstCall/ -- 3SBio Inc. (Nasdaq: SSRX - News), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced that it will release financial results for the second quarter ended June 30, 2009 after the US market closes on Tuesday, August 11, 2009.
Following the earnings announcement, 3SBio's senior management will host a conference call at 5:00 am (Pacific) / 8:00 am (Eastern) / 8:00 pm (Beijing/Hong Kong) on Wednesday, August 12, 2009 to discuss its 2009 second quarter financial results and recent business activity. The conference call may be accessed using the dial-in numbers below:
Conference ID: 21352657
Local dial-in:
China - landline 800-819-0121
China - mobile 400-620-8038
International toll-free dial-in:
Hong Kong 800933053
United Kingdom 080-8234-6646
United States 1-866-519-4004
International toll dial-in: 65-6735-7955
Replay
A telephone replay will be available two hours after the call until August 17, 2009, at:
International dial-in: +61-2-8235-5000
United States dial-in: 1-866-214-5335
Webcast
A live webcast of the conference will be available on the investor relations page of 3SBio's website at http://bbs.3sbio.com/en/News/xinvestors.aspx and at http://tinyurl.com/l8hs96 . A replay of the webcast will be available within one hour after the conclusion of the call.
surf1944
15 years ago
3SBio Inc. Announces Appointment of Ernst & Young Hua Ming as Independent Auditor
On Tuesday May 5, 2009, 7:52 am EDT
SHENYANG, China, May 5 /PRNewswire-Asia-FirstCall/ -- 3SBio Inc. (Nasdaq: SSRX - News; "3SBio" or "the Company"), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced the appointment of Ernst & Young Hua Ming ("Ernst & Young") as the Company's independent registered public accounting firm.
Ernst & Young replaces KPMG, previously the independent auditor for 3SBio. Ernst & Young has begun providing services effective immediately and is working with 3SBio and KPMG to ensure a seamless transition. The dismissal of KPMG and the appointment of Ernst & Young have been approved by the Audit Committee, with the concurrence of the Board of Directors of the Company.
The audit reports of KPMG on the effectiveness of internal control over financial reporting of 3SBio and its subsidiaries as of December 31, 2008, and the consolidated financial statements of 3SBio and subsidiaries as of and for the years ended December 31, 2007 and 2008 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles.
surf1944
16 years ago
3SBio Inc. Announces Filing of Annual Report on Form 20-F
Tuesday July 1, 8:30 am ET
SHENYANG, China, July 1 /Xinhua-PRNewswire-FirstCall/ -- 3SBio Inc. (Nasdaq: SSRX - News), a leading biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products primarily in China, today announced that it has filed with the SEC an annual report on Form 20-F for the year ended December 31, 2007. Copies of the report are available for download under the Investors page on the Company's website at http://bbs.3sbio.com/en/News/ShowInfo_n16.aspx?ID=30 .
About 3SBio Inc.
3SBio Inc. is a leading, fully integrated biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, primarily in China.
For more information, please visit 3SBio on the web at: http://www.3sbio.com .
For more information, please contact:
Investor Contact:
Kevin Teo, CFO
3SBio Inc.
Tel: +86-24-2581-1820
Investor Relations (US):
Mahmoud Siddig
Taylor Rafferty
Tel: +1-212-889-4350
Investor Relations (HK):
Ruby Yim
Taylor Rafferty
Tel: +852-3196-3712
Media Contact:
Jason Marshall
Taylor Rafferty
Tel: +1-212-889-4350
http://biz.yahoo.com/prnews/080701/cntu015.html?.v=51
surf1944
16 years ago
AMAG Pharmaceuticals, Inc. and 3SBio, Inc. Announce Strategic Partnership to Develop and Commercialize Ferumoxytol in China
Tuesday May 27, 8:30 am ET
SHENYANG, China, May 28 /Xinhua-PRNewswire-FirstCall/ -- AMAG Pharmaceuticals, Inc. (Nasdaq: AMAG - News) and 3SBio, Inc. (Nasdaq: SSRX - News), a leading Chinese biotechnology company, today announced the signing of a development and commercialization agreement for ferumoxytol, an intravenous iron replacement therapeutic agent being developed to treat iron deficiency anemia in chronic kidney disease (CKD) patients.
"This is an exciting first step towards expanding the potential use of ferumoxytol outside the United States. China represents a large and rapidly growing market opportunity as there are approximately 12 million Stage 3 and 4 CKD patients(1), and over 91,000 patients on dialysis in China(2)," stated Brian J.G. Pereira, MD, President and CEO of AMAG Pharmaceuticals, Inc., "With their leading position in the nephrology therapeutic market, nationwide specialty sales force, and strong marketing capabilities, 3SBio is an ideal partner to develop and commercialize ferumoxytol in China."
Under the terms of the agreement, AMAG will grant 3SBio exclusive rights to develop and commercialize ferumoxytol in China, initially for CKD, and with an option to expand into additional indications. 3SBio will be responsible for the clinical development, registration, and commercialization of ferumoxytol in China. AMAG and 3SBio will form a joint steering committee, with equal representation from both parties, to oversee and guide the development and commercialization of ferumoxytol in China. The agreement has an initial duration of thirteen years and will be automatically renewed for a set term if minimum sales thresholds are achieved. AMAG will retain all manufacturing rights for ferumoxytol and will provide, under a separate agreement, commercial supply to 3SBio at a predetermined supply price.
AMAG will receive an upfront payment of $1 million from 3SBio and is eligible to receive additional milestone payments upon regulatory approval of ferumoxytol in China for CKD and other specified indications. AMAG is also entitled to receive tiered, double-digit royalties, of up to 25%, based on sales of ferumoxytol by 3SBio.
"We are very pleased that AMAG Pharmaceuticals has entrusted 3SBio to develop and commercialize ferumoxytol in China," said Dr. Jing Lou, Chief Executive Officer of 3SBio. "Along with AMAG, we are committed to bringing this innovative medicine to millions of patients in China. This partnership represents a key milestone towards our goal of establishing 3SBio as the partner of choice in China for biotechnology companies around the world."
About AMAG Pharmaceuticals, Inc.
AMAG Pharmaceuticals, Inc. is a biopharmaceutical company that utilizes its proprietary nanoparticle technology for the development and commercialization of therapeutic iron compounds to treat anemia and novel imaging agents to aid in the diagnosis of cancer and cardiovascular disease.
Ferumoxytol, the Company's key product candidate, is being developed for use as an intravenous iron replacement therapeutic agent for the treatment of iron deficiency anemia in chronic kidney disease patients. The Company has released data on all four planned Phase III clinical trials of ferumoxytol as an intravenous iron replacement therapeutic agent in chronic kidney disease patients. The Company submitted a New Drug Application for marketing approval of ferumoxytol with the U.S. Food and Drug Administration (FDA) in December 2007, which was accepted for filing by the FDA in February 2008.
surf1944
16 years ago
3SBio Inc. Schedules 2008 First Quarter Earnings Release on Wednesday, May 14, 2008
Tuesday April 29, 8:00 am ET
Earnings Conference Call to be held on May 15, 2008 at 5:00 am (Pacific) / 8:00 am (Eastern) / 8:00 pm (Beijing/Hong Kong)
SHENYANG, China, April 29 /Xinhua-PRNewswire-FirstCall/ -- 3SBio Inc. (Nasdaq: SSRX - News), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced that it will release unaudited financial results for the first quarter ended March 31, 2008 after the US market closes on Wednesday, May 14, 2008.
The earnings release will be available on the investor relations page of its website at: http://www.3sbio.com/en/News/ShowInfo_nnn5.aspx?ID=64 .
Following the earnings announcement, 3SBio Inc. senior management will host a conference call at 5:00 am (Pacific) / 8:00 am (Eastern) / 8:00 pm (Beijing/Hong Kong) on Thursday, May 15, 2008 to discuss its 2008 first quarter financial results and recent business activity. The conference call may be accessed by calling (US) +1 480 248 5081 / (UK) +44 (0) 20 8515 2301 / (HK) +852 3009 5027. A telephone replay will be available shortly after the call until May 29, 2008 at (US) +1 303 590 3030/ (UK) +44 (0)20 7154 2833, Passcode: 3872203; and (HK) +852 2287 4304, Passcode: 030 110#.
A live webcast of the conference call and replay will be available on the investor relations page of 3SBio's website at: http://www.3sbio.com/en/News/ShowInfo_nnn5.aspx?ID=64 .
About 3SBio Inc.
3SBio Inc. is a leading, fully integrated biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, primarily in China.
For more information, please visit 3SBio on the web at: http://www.3sbio.com .
For more information, please contact:
Investor Contact:
Kevin Teo, CFO
3SBio Inc.
Tel: +86-24-2581-1820
Investor Relations (US):
Mahmoud Siddig
Taylor Rafferty
Tel: +1-212-889-4350
Investor Relations (HK):
Ruby Yim
Taylor Rafferty
Tel: +852-3196-3712
Media Contact:
Jason Marshall
Taylor Rafferty
Tel: +1-212-889-4350
surf1944
16 years ago
3SBio Inc. Approves Share Repurchase Program
Wednesday March 19, 4:30 pm ET
SHENYANG, China, March 19 /Xinhua-PRNewswire-FirstCall/ -- 3SBio Inc. (Nasdaq: SSRX - News; "3SBio" or the "Company"), a leading, fully integrated, biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products primarily in China, announced today that its board of directors has approved a share repurchase program.
The board has authorized 3SBio to purchase up to US$20 million worth of its outstanding American Depositary Shares ("ADSs"). Under the program, repurchases may be made from time to time on the open market over a period of 12 months commencing from March 21, 2008, depending on market conditions, the trading price of the ADSs and other factors, as well as subject to relevant rules under United States securities regulations. The share repurchase program may be suspended or discontinued at any time. The share repurchase program will be funded with the Company's available working capital. As of December 31, 2007, the Company had cash and cash equivalents of approximately RMB811.0 million (US$111.2 million).
As of March 17, 2008, the Company had approximately 14.87 million ADSs outstanding.
About 3SBio Inc.
3SBio Inc. is a leading, fully integrated biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, primarily in China. For more information, please visit 3SBio on the web at http://www.3sbio.com .
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blasher
12 years ago
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