Genesis Announces $12 Million in New Orders

Genesis Pharmaceuticals Enterprises, Inc. (GNPH.OB) reported that it booked $12 million in new orders at the 43rd Annual New Drugs Conference sponsored by China Health Tech Forum 2008. Genesis will deliver the products over the next 12 months to more than 800 wholesale distributors.

Genesis also said that more than 60% of the orders were for its newest product, Radix Isatidis Disperable Tablets, a nonprescription TCM treatment for flu. Radix Isatidis is already a popular product in China, but Genesis is the first to offer it in dispersible tablet form, which is a convenient and quickly dissolving formulation.

Genesis has not yet released financial results from its June quarter. However, in the first nine months of its fiscal year (ended March 30), the company reported $66.6 million of revenue and $12.8 million of net income.

Genesis offers both western-style and TCM products. The company recently completed a 40-to-1 reverse split of its stock.

Disclosure: none.