'Higher margin' European anti-cancer sales targeted for 2010 by China's Taihua

The AIM-quoted Chinese pharmaceutical manufacturer Taihua has disclosed initial details of plans for high-margin European sales of the active pharmaceutical ingredient of anti-cancer drug paclitaxel. The drug is widely used in the treatment of lung, breast and ovarian cancers, and Taihua already sells the APIs to manufacturers for Russian and South American markets.

Taihua chairman Nick Lyth says the company is targeting the first half of next year to have a European distribution network in place for paclitaxel API sales, adding that he believes the company is well positioned to meet anticipated demand given current production capacity in place at its Luonan factory in Shaanxi Province, China.

He added: 'We anticipate that sales into Europe will generate higher margins than in our established markets, and we are also confident that with access to our own supplies of raw materials we shall be strongly positioned to begin adding new value for shareholders by the end of 2010.'