SciClone Pharmaceuticals, Inc. Reports Higher Q1 Revenues And Earnings

SciClone Pharma, a US company that distributes western drugs in China, reported first quarter revenues of $33.6 million, a $7 million (26%) increase over the year earlier. Net income was $9.0 million, more than double the $4.1 million of a year earlier (GAAP). Non-GAAP net income was $9.8 million. SciClone said China's province-by-province bid system will have a negative effect on product revenues, but the company expects greater sales volume will make up the shortfall.

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