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China-based pharmaceutical firm Taihua warns that full year sales volumes will be lower than 2008 - despite an improved performance in the second half of last year.
The firm - which manufactures Paclitaxel, Homoharringtonine and Traditional Chinese Medicines (TCM) - said the first half of 2009 was very difficult for the business.
It said sales volume of Paclitaxel and Homoharringtonine, the company's principal products, had decreased when compared to the same period in 2008 due to the global financial crisis and foreign exchange rate fluctuations.
Trading improved in the second half of 2009 but the sales volume of Paclitaxel and homoharringtonine in 2009, as affected by the poor performance in the first half of 2009, was still lower than that in 2008.
The company said it had not fully recovered from the adverse influence of the suspension of TCM production in 2008.
As a result, the sales revenue of TCM products in 2009 decreased by 9% compared to 2008.
Story provided by Business Financial Newswire
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