GNPH - Genesis Pharmaceuticals Enterprises
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09.02.2009 19:43
Genesis Pharmaceuticals Enterprises, Inc.
We are advised by Genesis Pharmaceuticals Enterprises, (News) Inc. (OTC Bulletin Board: GNPH) that journalists and other readers should disregard the news release, "Genesis Pharmaceuticals Successfully Defends Itself in a Multi- Million Dollar Arbitration, Two Other Arbitration Proceedings Against Genesis are Withdrawn" issued on Friday, Feb. 6 over PR Newswire Asia, as it contained some erroneous information. Genesis Pharmaceuticals Enterprises, Inc. said a revised release will be issued shortly.
Genesis Successfully Defends Multi-Million Dollar Arbitration Filed by CRG and CRGP; Related Parties Withdraw Remaining Demands for Arbitration Against Genesis
Monday February 9, 1:48 pm ET
LAIYANG, China, Feb. 9 /PRNewswire-Asia-FirstCall/ -- Genesis Pharmaceuticals Enterprises, Inc. (OTC Bulletin Board: GNPH - News; "Genesis" or the "Company"), a U.S. pharmaceutical company with its principal operations in the People's Republic of China, today announced that the American Arbitration Association ("AAA") rendered a decision rejecting requests by Capital Research Group, Inc. ("CRG") to award it $13.8 million and by Capital Research Group Partners, Inc. ("CRGP") to award it $13.7 million related to an alleged breach of three consulting agreements.
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On February 2, 2009, after the arbitration panel heard CRG and CRGP's claims, and Genesis' counterclaims, the panel awarded a net total of $980,070.50 to CRG and CRGP jointly, representing less than four percent (4%) of the damages sought by Claimants. The AAA also denied the Claimants' requests for costs and pre-judgment interest, stating that once the award was satisfied, CRG and CRGP would have no further claims against Genesis stock or other property that were the subject of the arbitration.
A few days before the decision by the AAA, all remaining demands for arbitration filed against Genesis by related parties China West, LLC and China West II, LLC were withdrawn.
"While we are disappointed that any damages would be levied against the Company, we believe that this outcome has resulted in minimal negative impact on Genesis," said Mr. Wubo Cao, CEO of Genesis. "The successful defense of CRG and CRGP's claims, along with the withdrawal by China West and China West II of their remaining demands for arbitration will allow us to once again turn our full attention to managing and growing Genesis."
Other Events
Item 8.01 Other Event.
On February 9, 2009, Genesis Pharmaceuticals Enterprises, Inc., a Florida corporation (the "Company") announced in a Press Release the withdrawal of two arbitrations against the Company by China West II, LLC ("China West II") and China West, LLC ("China West"). The Company further announced the decision of the American Arbitration Association to award Capital Research Group Partners, Inc. ("CRGP") and Capital Research Group, Inc. ("CRG") a net total of $980,070.50.
In June 2008, China West II filed a demand for arbitration with the American Arbitration Association against the Company and Joshua Tan, a former director of the Company, seeking damages of approximately $6.7 million for an alleged breach of contract by the Company in connection with the Company's October 2007 reverse merger. On January 28, 2009, the Company received a letter from the American Arbitration Association indicating that China West II had withdrawn the arbitration without prejudice.
In November 2008, China West filed a demand for arbitration with the American Arbitration Association against the Company and Joshua Tan seeking damages of approximately $7.5 million for an alleged breach of contract and breach of fiduciary duty by the Company in connection with the Company's October 2007 reverse merger. On January 28, 2009, the Company received a notification via electronic mail indicating that China West had withdrawn the arbitration without prejudice.
In December 4, 2007, CRG and CRGP, former consultants of the Company, filed a demand for arbitration with the American Arbitration Association against the Company for an alleged breach of three years consulting agreement by the Company, seeking damages of approximately $13.8 million and $13.7 million , respectively. The amount of damages sought by CRG and CRGP was equal to the dollar value of approximately 29,978,900 shares of the Company's common stock (Pre 40-to-1 reverse split). On February 2, 2009, upon hearing the claims of CRG and CRGP and the Company's counterclaims, the arbitration panel awarded CRG and CRGP jointly, a net total of $980,070.50. The arbitration panel also denied the requests of CRG and CRGP for costs and pre-judgment interest, stating that once the award was satisfied, CRG and CRGP would have no further claims against the Company's common stock or other property that were the subject of the arbitration.
A copy of the Press Release is attached hereto as Exhibit 99.1.
12.02.2009 14:07
Genesis Pharmaceuticals Announces Conference Call to Discuss Results for its Second Quarter of FY 2009
LAIYANG, China, Feb. 12 /PRNewswire-Asia-FirstCall/ -- Genesis Pharmaceuticals Enterprises, (News) Inc. (BULLETIN BOARD: GNPH) ('Genesis' or the 'Company'), a U.S. pharmaceutical company with its principal operations in the People's Republic of China, today announced that the Company will host a conference call at 9:00 a.m. Eastern on Tuesday, February 17, 2009 to discuss financial results for the second quarter ended December 31, 2008 of its fiscal year 2009.
Conference Call
The conference call will include Mr. Wubo Cao, Chairman and CEO, Mr. Haibo Xu, COO, and Ms. Elsa Sung, CFO, of Genesis Pharmaceuticals.
To participate in this live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: (888) 419-5570. International callers should call (617) 896-9871. The Conference Passcode is 694 125 61. If you are unable to participate in the call at that time, replay of the conference call will be available from Tuesday, February 17 at 11:00 a.m. Eastern until Tuesday, March 3, 2009. To access the replay, call (888) 286-8010. International callers should call (617) 801-6888. The Conference Replay Passcode is 398 758 52.
About Genesis Pharmaceuticals Enterprises
Genesis Pharmaceuticals Enterprises, Inc. is a U.S. public company engaged in the research, development, production, marketing and sales of pharmaceutical products in the People's Republic of China. Its operations are located in Northeast China in an Economic Development Zone in Laiyang City, Shandong province. Genesis is a major pharmaceutical company in China producing both western and Chinese herbal-based medical drugs in tablet, capsule and granule form. The Company maintains a representative office in the U.S. For more information, refer to http://www.genesispharmaceuticals.com/ .
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to introduce, manufacture and distribute new drugs. Actual results may differ materially from predicted results, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's ability to obtain raw materials needed in manufacturing, the continuing employment of key employees, the failure risks inherent in testing any new drug, the possibility that regulatory approvals may be delayed or become unavailable, patent or licensing concerns that may include litigation, direct competition from other manufacturers and product obsolescence. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
For more information, please contact: Genesis Pharmaceuticals Enterprises, Inc. Ms. Elsa Sung, CFO Tel: +1-954-727-8435 Email: elsasung@jiangbo.com Web: http://www.genesispharmaceuticals.com/ CCG Investor Relations, Inc. Mr. Crocker Coulson, President Tel: +1-646-213-1915 Email: crocker.coulson@ccgir.com Web: http://www.ccgir.com/
Mit diesen & den beendeten Klagen wird sich hoffentlich der Charttrend weiter freundlich gestalten...
http://www.finanznachrichten.de/...-second-quarter-of-fy-2009-008.htm
...the Company will host a conference call at 9:00 a.m. Eastern on Tuesday, February 17, 2009 to discuss financial results for the second quarter ended December 31, 2008 of its fiscal year 2009.
Angehängte Grafik:
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Jan 30, 2009 24,823 400.97 3,375 7.35 No No
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http://www.shortsqueeze.com/?symbol=gnph&submit=Short+Quote%99
Genesis Pharmaceuticals Enterprises Inc. $ 5.89
GNPH
Short Interest (Shares Short) 24,800
Days To Cover (Short Interest Ratio) 7.3
Short Percent of Float %
Short Interest - Prior 5,000
Short % Increase / Decrease 396.00 %
Short Squeeze Ranking™
% From 52-Wk High ($ 13.50 ) -129.20 %
% From 52-Wk Low ($ 3.31 ) 43.80 %
% From 200-Day MA ($ 5.42 ) 7.98 %
% From 50-Day MA ($ 4.18 ) 29.03 %
Price % Change (52-Week) %
Shares Float
Total Shares Outstanding
% Owned by Insiders %
% Owned by Institutions %
Market Cap. $
Trading Volume - Today 3,455
Trading Volume - Average 3,400
Trading Volume - Today vs. Average 101.62 %
Earnings Per Share
PE Ratio
Record Date 2009-FebA
Sector
Industry
Exchange BB
Quarterly Report
Item 2. Management's Discussion and Analysis or Plan of Operation
The following discussion and analysis of the results of operations and financial condition of Genesis Pharmaceuticals Enterprises, Inc. for the six months and three months ended December 31, 2008 and 2007 should be read in conjunction with Genesis' financial statements and the notes to those financial statements that are included elsewhere in this Quarterly Report on Form 10-Q. Our discussion includes forward-looking statements based upon current expectations that involve risks and uncertainties, such as our plans, objectives, expectations and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of a number of factors, including those set forth under the Risk Factors, and Cautionary Notice Regarding Forward-Looking Statements in this Form 10-Q. We use words such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "believe," "intend," "may," "will," "should," "could," and similar expressions to identify forward-looking statements.
OVERVIEW
We were incorporated on August 15, 2001, in the State of Florida under the name Genesis Technology Group, Inc. On October 12, 2001, we consummated a merger with NewAgeCities.com, an Idaho public corporation formed in 1969. We were the surviving entity after the merger. On October 1, 2007, we completed a share exchange transaction by and among us, Karmoya International Ltd. ("Karmoya"), a British Virgin Islands company, and Karmoya's shareholders. As a result of the share exchange transaction, Karmoya, a company which was established as a "special purpose vehicle" for the foreign capital raising activities of its Chinese subsidiaries, became our wholly-owned subsidiary and our new operating business. Karmoya was incorporated under the laws of the British Virgin Islands on July 17, 2007, and owns 100% of the capital stock of Union Well International Limited ("Union Well"), a Cayman Islands company. Karmoya conducts its business operations through Union Well's wholly-owned subsidiary, Genesis Jiangbo (Laiyang) Biotech Technology Co., Ltd. ("GJBT"). GJBT was incorporated under the laws of the People's Republic of China ("PRC") on September 16, 2007, and registered as a wholly foreign owned enterprise ("WOFE") on September 19, 2007. GJBT has entered into consulting service agreements and equity-related agreements with Laiyang Jiangbo Pharmaceutical Co., Ltd. ("Laiyang Jiangbo"), a PRC limited liability company incorporated on August 18, 2003.
--------------------------------------------------
As a result of the share exchange transaction, our primary operations consist of the business and operations of Karmoya and its subsidiaries, which are conducted by Laiyang Jiangbo in the PRC. Laiyang Jiangbo produces and sells western pharmaceutical products in China and focuses on developing innovative medicines to address various medical needs for patients worldwide.
RESULTS OF OPERATIONS
Comparison of six months and three months ended December 31, 2008 and 2007
The following table sets forth the results of our operations for the periods
indicated as a percentage of total sales :
Three Months Ended Six Months Ended
December 31, December 31,
2008 % of Revenue 2007 % of Revenue 2008 % of Revenue 2007 % of Revenue
SALES $ 32,945 100.00 % $ 25,154 94.75 % $ 60,265 99.60% $ 40,417 93.65 %
SALES- RELATED
PARTY - - % 1,395 5.25 % 244 0.4% 2,743 6.35 %
COST OF SALES 7,138 21.67 % 6,524 24.58 % 12,851 21.24% 10,730 24.86 %
COST OF SALES-
RELATED
PARTIES - - % 292 1.10 % 54 0.09% 676 1.57 %
GROSS PROFIT 25,807 78.33 % 19,732 74.33 % 47,604 78.67% 31,753 73.57 %
SELLING,
GENERAL AND
ADMINISTRATIVE
EXPENSES 13,283 40.32 % 10,312 38.84 % 26,636 44.02% 17,133 39.70 %
RESEARCH AND
DEVELOPMENT 1,099 3.33 % 937 3.53 % 2,196 3.63% 1,202 2.79 %
INCOME FROM
OPERATIONS 11,426 34.68 % 8,483 31.95 % 18,771 31.02% 13,418 31.09 %
OTHER EXPENSES 3,206 9.73 % 327 1.23 % 5,449 9.00% 432 1.00 %
INCOME BEFORE
PROVISION FOR
INCOME TAXES 8,220 24.95 % 8,157 30.73 % 13,323 22.02% 12,986 30.09 %
PROVISION FOR
INCOME TAXES 2,820 8.56 % 3,004 11.32 % 4,790 7.92% 4,597 10.65 %
NET INCOME 5,399 16.39 % 5,153 19.41 % 8,533 14.10% 8,388 19.44 %
OTHER
COMPREHENSIVE
INCOME (136) (0.41) % 2,669 10.05 % (1,368 ) (2.26)% 3,086 7.15 %
COMPREHENSIVE
INCOME 5,2 63 15.98 % 7,822 29.46 % 7,164 11.84% 11,474 26.58 %
Genesis Pharmaceuticals Reports Results for the First Quarter of its Fiscal Year 2009
First Quarter of FY 2009 Highlights
· Revenue was $27.6 million, up 65.9% from the corresponding quarter ended September 30, 2007
· Gross profit was $21.8 million, up 81.3% from the corresponding quarter ended September 30, 2007, and gross margin was 79.1%, compared to 72.4% in the corresponding quarter ended September 30, 2007
· Operating income was $7.3 million, up 48.9% from the corresponding quarter ended September 30, 2007
· Net income was $3.1 million, compared to $3.2 million in the corresponding quarter ended September 30, 2007
· In July 2008, the Company received approval from the Chinese State Food and Drug Administration to start producing and distributing Radix Isatidis Dispersible Tablets, an herbal-based traditional Chinese medicine used for viral influenza
· On September 4, 2008, the Company completed a 40-for-1 reverse stock split of its common stock and began trading under the symbol “GNPH”
· The Company received purchase orders for a total value of approximately $12 million over the next 12 months from over 80 wholesale distributors at the 43rd Annual New Drugs Conference sponsored by China Health Tech Forum 2008
“Genesis had a good first quarter because of our on-going marketing and sales efforts. Baobaole Chewable tablets continued to generate strong sales, and we recently started selling a new product, Radix Isatidis Dispersible Tablets, which is used to treat cold and flu symptoms,” said Mr. Wubo Cao, Chairman and CEO of Genesis. “We expect to continue to expand our marketing and sales efforts and continue to explore opportunities to acquire, manufacture and sell new products in order to further develop shareholder value throughout the rest of fiscal year 2009.”
First Quarter of Fiscal Year 2009 Results
Total revenue from sales and sales to related parties totaled $27.6 million for the three months ended September 30, 2008, up 65.9% to $16.6 million for the three months ended September 30, 2007. Revenues increased because of strong sales of the Company’s two products, Itopride Hydrochloride Granules and Baobaole chewable tablets, a product which was successfully launched in the second quarter of fiscal year 2008.
Gross profit in the first quarter of fiscal year 2009 was $21.8 million, an increase of 81.3% from $12.0 million for the prior year’s corresponding period. Gross margin increased 79.1%, up from 72.4% for the prior year’s corresponding period. Gross margin increased because of increased sales of higher margin products, especially Baobaole chewable tables, more efficient production and well managed purchases of raw materials.
Research and development costs totaled $1.1 million for the three months ended September 30, 2008, compared to $0.3 million for the three months ended September 30, 2007. This increase was due to two new cooperative research and development agreements that were signed in the latter part of fiscal 2008. The Company began making monthly payments to support university research and development projects.
Selling, general and administrative expenses were $13.4 million for the three months ended September 30, 2008, up 95.7% from $6.8 million in the three months ended September 30, 2007. Salaries, wages and related benefits increased $8.6 million primarily because of an increase in the Company’s number of employees and higher commissions as a percentage of sales paid to sales representatives. Other factors for the increase in selling, general and administrative expenses included higher advertising, marketing and promotion expenditures, and costs related to being a public company.
Income from operations was $7.3 million for the three months ended September 30, 2008, a 48.9% increase from $4.9 million for the three months ended September 30, 2007.
Although the Company had a $2.4 million increase in income from operations, other expenses increased by $2.1 million. Net income for the three months ended September 30, 2008 was $3.1 million, compared to $3.2 million for the three months ended September 30, 2007. Excluding an unrealized loss on security investments of $1.0 million and a non-cash charge for amortization of discounts on convertible debt of $0.7 million, adjusted net income for the three months ended September 30, 2008 was $4.8 million or $0.49 per fully diluted share, which translates to a 49.5% increase in non-GAAP net income for the three months ended September 30, 2008 compared to the same period last year.
Management believes that operating income will grow and net income will improve in the remainder of fiscal year 2009 as the Company will continue to strengthen its sales efforts, offer new products, improve manufacturing efficiency and more closely control spending.
Financial Condition
As of September 30, 2008, the Company had $61.3 million in cash. Working capital was $77.4 million, up from $73.2 million as of June 30, 2008. Current liabilities were $23.4 million and long-term debt consisted of $3.2 million in convertible debt. Shareholders’ equity was $97.4 million. Future contractual obligations within one year period include $7.9 million in bank debt and $4.4 million in research and development contractual agreements. The Company generated $13.7 million in cash flow from operating activities in the first quarter of fiscal year 2009. Management believes that its strong cash position will sustain the Company’s future cash needs and will enable the Company to successfully implement its growth strategies.
Recent Events
· The Company started sales of Radix Isatidis Dispersible Tablets in October 2008. This drug is expected to become a popular remedy for cold and flu symptoms.
· In early November of 2008, the Company launched a new corporate website with the domain address http://www.genesispharmaceuticals.com.
Business Outlook and Guidance
"Part of our current growth strategy includes developing and implementing a systematic marketing strategy through which we hope to develop our presence in China’s rural markets. We believe that rural China offers us good growth potential because the Chinese government actively supports better health care in rural areas. We are currently also exploring acquisition opportunities through which we expect to quickly increase our portfolio of products," said Mr. Cao. "Regarding corporate governance, we are in the process of selecting and engaging a professional consulting company to help us meet the requirements of the Sarbanes–Oxley Act of 2002. The improvements we want to bring to our corporate governance are guided by the requirements for applying to a senior U.S. stock exchange. We hope to apply to a senior U.S. stock exchange in the near future in order to increase visibility and liquidity for our shares, and value for our shareholders.”
“Sales have grown quickly for Baobaole Chewable Tablets, Radix Isatidis Dispersible Tablets have found rapid market acceptance, and we expect to expand our product line in the near future. We continue to be confident that we will meet our fiscal year 2009 guidance,” concluded Mr. Cao. “We expect revenue for fiscal 2009 to be from $122.0 to $130.0 million, and operating income to be from $40.0 to $43.0 million.”
Conference Call
Genesis Pharmaceuticals Enterprises, Inc. management will host a conference call at 10:00 a.m. Eastern Time on Monday, November 17, 2008 to discuss financial results for the quarter ended September 30, 2008. Mr. Wubo Cao, Chairman & CEO of Genesis, Ms. Elsa Sung, CFO of Genesis and Ms. Hong Xue, Financial Controller of Genesis will be present at the conference call. To participate in this live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time of 9:00 a.m. Eastern Time on Monday, November 17, 2008: (888) 419-5570. International callers should call (617) 896-9871. The Conference Passcode is 684 940 06. If you are unable to participate in the call at that time, replay of the conference call will be available from Monday, November 17, 2008 at 11:00 a.m. Eastern until Monday, December 1, 2008. To access the replay, call (888) 286-8010. International callers should call (617) 801-6888. The Conference Passcode is: 396 547 67.
About Genesis Pharmaceuticals Enterprises, Inc.
Genesis Pharmaceuticals Enterprises, Inc. is a U.S. public company engaged in the research, development, production, marketing and sales of pharmaceutical products in the People's Republic of China. Its operations are located in Northeast China in an Economic Development Zone in Laiyang City, Shandong province. Genesis is a pharmaceutical company in China producing western and Chinese herbal-based medical drugs in tablet, capsule, and granule form.
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http://seekingalpha.com/article/...venue-flat-net-income?source=email
Genesis Pharma's Q2: Higher Revenue, Flat Net Income
by: ChinaBio Today February 18, 2009
Genesis Pharmaceuticals Enterprises, Inc. (GNPH.OB) reported that revenues jumped 24% during its Q2 (ended December 31, 2008), but net income moved up only 4%. The company booked $32.9 in revenue for the quarter and recorded a profit of $5.4 million or 11 cents per share.
Genesis Pharma found three causes for the $2.9 million rise in expenses (which offset the rise in revenues): (1) $1.3 million loss on security investments, (2) $2.7 million increase in interest expense and amortization of debt discounts, and (3) accounting for expenses acquired from discontinued operations associated with the company’s reverse merger in 2007. On a non-GAAP basis, net income for the quarter was $7.0 million, or $0.71 per share, up 29% from the year-earlier period.
Genesis said that increased revenues from Itopride Hydrochloride Granules and Baobaole Chewable Tablets helped its top-line improvement. Its newly approved product, Radix Isatidis Dispersible Tablets, also contributed. However, decreased sales of Clarithromycin Sustained-Release Tablets were a negative. The company did not release specific results for each product.
Earlier this month, Genesis announced that it will acquire most of the assets of Hongrui Pharmaceuticals for $12.2 million. Hongrui has a portfolio of 22 TCM drugs that produced revenues of 80.6 million RMB ($11.8 million) in the first eight months of 2008. The transaction has not yet closed.
At the end of its recent quarter, Genesis had a substantial $83 million in cash. Current liabilities were just $33.7 million. It generated $26.4 million in cash flow from operating activities in the first six months of its fiscal year.
With six months of its fiscal 2009 completed, the company issued guidance for its full-year 2009 results. It called for revenues to total between $122 and $130 million, with operating income of between $40 million and $43 million. These numbers do not include any contribution from the Hongrui acquisition.
With 10.4 million shares outstanding (fully diluted) and a current stock price of $4.99, Genesis has a market capitalization of $52 million – less than its current cash level.
...The purpose of changing the Company’s name to Jiangbo Pharmaceuticals, Inc. is to provide better identification of the Company’s established brand name in the People’s Republic of China.
...The Board believes that the proposed change of name of the Company is in the best interests of the Company and its shareholders.
http://ih.advfn.com/...269978&article=36628075&symbol=NB^GNPH
INFORMATION STATEMENT
OF
GENESIS PHARMACEUTICALS ENTERPRISES, INC.
ACTIONS BY BOARD OF
DIRECTORS
AND
CONSENTING SHAREHOLDERS
At a telephonic meeting held on February 12, 2009, the Board of Directors adopted a resolution to amend the Company’s articles of incorporation to change the name of the Company to Jiangbo Pharmaceuticals, Inc. (the “Name Change Amendment”). A copy of the Board minutes are attached hereto as APPENDIX A. The action taken by the Board of Directors with respect to the Name Change Amendment was subsequently approved by the written consent of the Company’s shareholders entitled to vote a majority of the shares of Common Stock then outstanding on March 3, 2009, a copy of which is attached as APPENDIX B: A copy of the Name Change Amendment is attached hereto as APPENDIX C.
...
Name Change Amendment
The Company’s articles of incorporation will be amended by striking out Article I and replacing it with the following new Article I.
“The name of the corporation is Jiangbo Pharmaceuticals, Inc.”
Purpose of Name Change Amendment
The purpose of changing the Company’s name to Jiangbo Pharmaceuticals, Inc. is to provide better identification of the Company’s established brand name in the People’s Republic of China. The Board believes that the proposed change of name of the Company is in the best interests of the Company and its shareholders.
Effective Date
Under applicable federal securities laws, the Name Change Amendment cannot be effective until at least 20 calendar days after this Information Statement is distributed to the Company’s shareholders. The Name Change amendment will become effective upon filing with the Secretary of State of Florida. It is anticipated that the foregoing will take place 20 calendar days after distribution of this Information Statement to the Company’s shareholders.
... (weiter siehe LINK)
CFO of Genesis Pharmaceuticals Gives Live Interview on Bloomberg TV Asia
Friday March 6, 9:00 am ET
LAIYANG, China, March 6 /PRNewswire-Asia-FirstCall/ -- Genesis Pharmaceuticals Enterprises, Inc. (OTC Bulletin Board: GNPH - News; "Genesis" or the "Company"), a U.S. pharmaceutical company with its principal operations in the People's Republic of China, today announced that its CFO, Ms Elsa Sung, gave a live interview at the studios of Bloomberg TV Asia Pacific Channel which aired at 8:50 am, Thursday March 5, 2009 Hong Kong time. The interview addressed recent health care reforms in China and Genesis' growth strategies.
ADVERTISEMENT
Ms Sung said the Chinese government plans to spend over 850 billion Yuan on health care over the next three years. As part of health care reform, plans call for over 90% of China's population to receive health care insurance coverage from the national medical insurance system. This will benefit the public as well as the suppliers of medical products, especially producers of OTC Traditional Chinese Medicines (TCM).
Until recently, Genesis focused on developing, manufacturing and distributing only western prescription drugs. The Company is now adding new TCMs to its product line and has moved into the OTC drug market. Genesis is waiting for final SFDA approval for several new western prescription and TCM drugs and is looking to broaden and balance its product line by acquiring drugs which already have SFDA approvals. The acquisition of new and already approved drugs will help ensure the Company's growth and avoid the long SFDA approval process for new drugs.
Ms Sung told the live anchor that the Chinese pharmaceutical industry is very fragmented and regionally orientated. To Genesis' great advantage, the Company is located in Shandong Province, one of the top three provinces in China in terms of population and GDP. The Company has an extensive sales network that reaches 29 provinces, so Genesis is poised for growth by being "at the right place and at the right time."
To view the interview, please visit
http://www.bloomberg.com/apps/...pid=newsarchive&sid=ajE7nTW4HvT0 .
http://www.bloomberg.com/avp/....bloomberg.com/cache/vFqfy1fm6P3o.asf
Listen to crocker...he knows the company inside out.
10,ill shares only...buybacks and uplist in the making strong growth .. sellingdrugs in whole china.. just acquired something like a university which develops drugs for over the counter products...6 drugs selling, more in the pipeline !
[chart]www.areagames.de/images/games/Screenshots/Spiele/...on-09.jpg[/chart]
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Genesis Pharmaceuticals GNPH
Genesis Pharmaceuticals Affirms Operating Income Guidance, Adjusts Revenue Guidance for Fiscal 2009
Thursday April 2, 2009, 8:00 am EDT
Buzz up! Print LAIYANG, China, April 2 /PRNewswire-Asia-FirstCall/ -- Genesis Pharmaceuticals Enterprises, Inc. (OTC Bulletin Board: GNPH - News; "Genesis" or the "Company"), a U.S. pharmaceutical company with its principal operations in the People's Republic of China, today affirmed its previously announced operating income guidance of $40 to $43 million for its fiscal year ending June 30, 2009. The Company also adjusted its revenue guidance for its fiscal year ending June 30, 2009 from a range of $122 to $130 million to a range of $111 to $116 million as a result of restructuring how it distributes and sells its products.
The Company restructured its distribution and sales system to sell its Clarithromycin sustained-release tablets, Itopride Hydrochloride granules and Baobaole chewable tablets to hospitals and pharmacies through 28 large independent regional distributors. Each of these primary regional distributors works closely with sub-distributors and Genesis' internal marketing and sales network.
In connection with its sales restructuring, the Company lowered the per unit prices of certain products that the Company charges to regional distributors in cases where such regional distributors became responsible for some of the costs associated with these products that previously were direct marketing expenses of the Company. The Company adjusted its revenue guidance to reflect these adjusted prices.
The Company's new products, including Radix Isatidis dispersible tablets and products, acquired from its recent purchase of Hongrui Pharmaceuticals Company, will be sold through this new sales structure. However, the Company will not change its marketing method or sales structure with respect to the sale of its low margin Ciprofloxacin Hydrochloride tablets and Paracetamol tablets.
The Company works with regional distributors to design and jointly execute local marketing and promotional plans aimed at the medical community and end users. The Company's close relationship with a regional distributor recently led to expansion into Tibet. The Company hopes to continue geographical expansion and to gain greater market penetration through ongoing cooperation with regional distributors.
The Company has an internal marketing and sales network of 470 full time and 620 part time sales representatives who operate as local level marketers and product services personnel.
The Company's management believes that greater reliance on regional distributors will be needed in the future to support the Company's growing product portfolio.
"We are affirming our operating income guidance because of our positive view of the overall pharmaceutical market in China and our belief that restructuring our sales network will help us achieve our operating income goals," said Mr. Wubo Cao, Chief Executive Officer of Genesis. "As an important part of its medical reform initiatives, we understand that China plans to establish provincial and national basic medicine lists. We expect that most of our products will be on these national lists. We also expect to benefit from the Chinese government's plan to extend medical insurance coverage to a greater number of people. In addition, we hope that our close working relationships with local distributors will enable us to sell more of our products on a provincial level."
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14 Tuition Breaking Stocks
by: Glen Bradford April 06, 2009 | about stocks: CAEI / CHCG / CNEH.OB / CNO / FAS / GNPH.OB / XING Glen Bradford Follow83
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Become a Contributor Submit an Article Font Size: PrintEmail TweetThis You might have been like my friends and family in the past 6-months -- afraid to check the portfolio, afraid to accidentally see the latest Dow Jones beatdown, with an upset stomach from a depreciating portfolio of Large Caps that your broker said were a great buy two years ago. You might be in a state of denial. You might be sitting 100% cash with two years of fallout supplies packed into your basement. I challenge you to open your eyes and go hunt with me for bargains.
What sets Super Markets apart from Stock Markets is pretty straight forward. At the Super Market, a 50%-off sale draws people from across the country to line up at 4am and stampede the bargains. At the Stock Market, a 50%-off sale is like a bomb threat in an airport. There are those that make gobs of money in times when the stock market is 50%-off. The trick is not looking around for the 50%-off items, because those really aren’t the bargains anymore. There are stocks that are 95%-off in a 50%-off sale. I call this the clearance aisle. These goods are selling for less than their cost of production (book value). The trick here is differentiating ones that are high quality from those of lesser quality. I set my parameters as fairly straight forward. The companies I buy have to be profitable and growing.
Then, the trick is continuously learning how companies can and may scam their investors. I look for indications of accounting fraud, and try to eliminate those companies from my lists. Did you know that companies can boast huge numbers year-after-year and not be making money?
Now, I’m not saying that all 14 of these companies are going to be up 300% one year from today. What I am saying is that by being certain that I am uncertain, I can diversify my college tuition nest egg into 14 of the cheapest discounted cash flow companies out of the 5,000 I’ve sorted through. I can also do my best to minimize my risk by knowing how to identify accounting fraud and not paying more than book value for a stock. By doing this, I am certain that I will candidly beat the market over time. Don’t believe me? That’s fine. All I can do for you is give you the opportunity. The choice is yours to take it, or leave it.
Below I’ve compiled a table of all the plays I am considering or possibly in. Mind you that I have been betting my college tuition on my advice. Some of the numbers have been adjusted by me in order to reflect my feelings on the stock itself as well as potential dilutions.
Earnings Price P/E P/B Growth Bust Target Boom Target Exchange Listed? Bottom?
CNO $ 0.85 $ 1.35 1.59 0.15 16% $6.80 $13.60 1 1.0
GHII $ 0.13 $ 0.08 0.62 0.16 27% $1.04 $3.51 0 0.7
NWD $ 0.20 $ 0.17 0.85 0.13 13% $1.60 $2.60 1 0.3
CAEI $ 0.50 $ 1.00 2.00 1.06 25% $4.00 $12.50 1 0.5
CHCG $ 0.51 $ 0.92 1.80 0.55 20% $4.08 $10.20 0 0.8
CYXN $ 0.19 $ 0.27 1.42 0.68 25% $1.52 $4.75 0 0.9
GNPH $ 2.16 $ 4.95 2.29 0.54 12% $17.28 $25.92 0 0.5
OPAI $ 0.20 $ 0.14 0.70 0.18 30% $1.60 $6.00 0 0.5
LTUS $ 0.24 $ 0.30 1.25 0.32 26% $1.92 $6.24 0 0.6
CKGT $ 0.14 $ 0.30 2.14 0.23 11% $1.12 $1.54 0 0.6
AKRK $ 0.09 $ 0.19 2.11 0.35 20% $0.72 $1.80 0 0.6
FAS $ 4.00 $ 7.20 1.80 0.3 15% $32.00 $60.00 1 0.7
CNEH $ 0.70 $ 1.49 2.13 0.61 20% $5.60 $14.00 0.5 0.4
XING $ 0.65 $ 1.32 2 0.17 10% $7.60 $9.50 0 0.5
I also figure that I’ll outline my sentiment. I’m bullish financials that are down 85%+ in the last 3 years that are likely to survive this downturn. I’m neutral-bullish commodity prices. I’m neutral-bearish the US dollar; not because of this narrative fallacy of monetizing the US deficit, but because of the US-Treasury bubble bursting and the reversal of the “run to the dollar for safety” trend. I’m bullish emerging markets.
Disclaimer: Glen and his investors currently own CNO, GHII, NWD CAEI, CHCG, CYXN, GNPH.OB, OPAI LTUS, FAS, CNEH