China Biopharma Corporation, trading on the OTC Bulletin Board under the symbol (CBPC.OB), announced a remarkable leap in its financial results for 2006 on April 2nd. The company reported a staggering 216% increase in total revenues, surging from US$380,519 in 2005 to US$1.2 million in 2006. This revenue growth was predominantly driven by the company’s vaccine distribution business, marking a strategic shift from value-added communication services in the U.S. to the burgeoning Chinese biopharmaceutical sector.
Chairman and CEO Peter Wang is projecting an ambitious target for 2007, with revenues estimated to hit US$10 million. This projection is underpinned by the company’s plans to supply preventive vaccines to the Chinese Center for Disease Control and Prevention and to launch its inaugural IVIG treatment for autoimmune diseases. Furthermore, China Biopharma intends to capitalize on its majority-owned subsidiary, Hainan CITIC Bio-Pharmaceutical Development Co., utilizing its distribution platform to expand the delivery of a range of medical products.
