Dashboard for the Leading Network of Stock Market and Personal Finance Blogs

Visit Seeking Alpha

Tongjitang Chinese Medicines Blames Weather for Disappointing Q1

Posted on June 01, 2008

Tongjitang Chinese Medicines Company (NYSE: TCM) reported that its Q1 revenues and profits were lower than a year ago. The company blamed the heavy February snowfalls as the reason behind the disappointing quarterly results, even though the rest of China biopharma was largely able to dramatically increase its sales and net income in the same period. Tongjitang said its revenues decreased 29% in Q1 to 106 million RMB ($15.1 million), largely because sales of its lead drug, the osteoporosis drug Xianling Gubao, fell 39% to 70 million RMB ($10.0) million. Wintertime is usually a good season for...

Original article link


earnings , earnings announcement , ipo , trading