Shengtai Awarded GMP Certification for Glucose Facility
Shengtai Pharmaceutical, Inc. (SGTI.OB) has been awarded the China Good Manufacturing Practice (GMP) certificate for its new glucose manufacturing facility. The new facility has an annual production capacity of 120,000 tons, which, when combined with existing capacity, now gives Shengtai the ability to produce 180,000 tons of glucose per year. The company’s major revenue driver is pharmaceutical grade glucose.
As ChinaBio Today reported last week, Shengtai’s 2008 fiscal year revenues climbed 76% over the year earlier. However, sales of its high-margin pharmaceutical glucose products were flat because of its capacity restraints. In 2008, 38% of the company’s revenues came from glucose, against 62% in 2007.
The new production plant cost a total of $32 million, of which $10 million paid for the building while the remainder was spent on equipment. Production from the facility has begun at low levels, and will be increased in stages.
Disclosure: none.
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