I do not suppose any body thought that the company could...

I do not suppose any body thought that the company could actually grow profits from marketing their medical products to the large population in Asia ,


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SciGen said the figures were broadly in line with expectations,with its current cash reserves of $19.56 million placing it in a strong position to pursue necessary growth and sales.
"T
he net operating position for the company ... was broadly in line with internal budgets and expectations with the exception that revenue from sales is up on budget largely due to purchase of Hepatitis B by ,SciGen's distributor in Vietnam," the company said.
"Sales of human growth hormone across all territories are up byfour per cent on budget expectations."
Looking forward, the company said it expected to further
increase sales and marketing infrastructure from its offices in
Australia, Korea, Vietnam, Hong Kong, USA and the Philippines.
"As further expenditure on clinical development programs comes
on line in the second half of FY03, the company expects to still be
in an operating loss position for the full year," it said.
"However, the expectation is that sales revenue will continue ontrack to achieve full year budgets."
"SciGen will continue to develop markets in new territories for its products either by working with partners or, where supported by a business case, establish its own presence."
SciGen's product portfolio comprises a range of products including a third generation hepatitis B vaccine, a human growth hormone, human insulin and a interferon drug.
Last month, SciGen struck a 10-year deal with Indonesia's Kalbe Farma Group to sell and distribute human insulin in Indonesia, and is awaiting approval by the Drug Controller of India to begin
operations there from July this year.
SciGen was first listed on the Australian Stock Exchange on November 15 last year after it demerged from Sonic Healthcare Ltd.
Sonic has injected $30 million into SciGen under the demerger process, retaining a 12 per cent stake with the funds to be used for research and development as well as buying fixed assets and
payment of loans.


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