Tongjitang Reports Another Down Quarter

The Q3 results from Tongjitang Chinese Medicines Company (同济堂药业) continue to show a decline in sales that has been going on for two years. Revenues dropped 5% lower in the quarter to $15.3 million, and net income moved from a $1.1 million profit in the year-earlier period to a $2 million loss. The main culprit for the decline was the company’s major product, the osteoporosis treatment Xianling Gubao (XLGB). Its sales fell 23% to $9 million in the quarter. More details.. Stock Symbol: (NYSE: TCM)