Executive Summary
Taihua plc and its subsidiaries (the \Group\) are principally involved in the development of active pharmaceutical ingredients, namely paclitaxel and homoharringtonine, predominantly for use in the treatment of cancer. The Group's current focus is the production of paclitaxel (the active compound used in the Bristol-Myers Squibb branded anticancer medicine, Taxol, which lost patent protection in 2004 in the US) and homoharringtonine (a compound that has antileukaemic effects and which has been used in China for over 30 years). Homoharringtonine is sold to manufacturers in China and paclitaxel is distributed, by way of third parties, to manufacturers in South America and Russia. In addition, the Group is currently awaiting approval to distribute into South Korea and anticipates receiving this approval before the end of 2006. In 2004, the Group expanded its operations and has begun to manufacture its own final form medication, in the form of plant-derived traditional Chinese medicines, which are sold in China.
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