38 45 1-1-1
3,500 1.00 15.55 0.62 14.93 3,500 54,425 2,171 52,254 2003 2 17 [2003]11 (1) (2) 2003 2003 2003 (3) 2002 12 31 66.7% (4) 2003 1 16 1-1-2
...7...10...10...12...12...13...14...14...15...16...17...17...19...19...20...21...23...25...26...26...29...29...29...29...34...35...37...37...38...40...40...41...42...44...44...44...45...46...47...47...48...48 1-1-3
...50...50...50...50...51...51...52...54...54...60 GMP...60...60...64 GMP...65...66...67...69...69...69...72...73...76...78...78...79...84...84...84...88...88...88...89...89...89...90...90...91...95...95...95...96...96...98...98 1-1-4
...98...100...100...101...104...104...104...105...107...109...109...109...109...110...110...112...113...115...119...122...123...124...133...133...135...139...139...139...139...140...140...141...141...142...142...143...143...143...144...144...144...144...146...147 1-1-5
...147...149...149...149...150...150...151...151...151...151 50...155...158 5...159 5...161 30...163 20...165 10...166...168...169...169...169...170...171...174...174...174 EV/EBITDA...174...176...176...176...177...178...178...180...185...187...192...192...192 1-1-6
7 30% A 1.00 1-1-7
ISO 9001 ISO 14001 WTO GMP GSP FDA COS EP USP BP CP WHO SDA 9000 14000 EDQM DMF ACE Pril Captopril Enalapril Lisinopril HIV Human Immunodeficiency Virus HIV Navir Indinavir Nafinavir Ritonavir 1-1-8
Losartan Valsartan Irbesartan 2001 2000 2001 2002 1-1-9
1. ZHEJIANG HUAHAI PHARMACEUTICAL CO., LTD. 2001 2 28 6,500 2001 1 19 [2001]5 2000 12 31 6,500 1 1 1-1-10
2001 2 8 2001 2 28 3300001007639 2000 12 31 6500 6500 % 2,915.25 44.85 2,915.25 44.85 325.00 5.00 149.50 2.30 65.00 1.00 65.00 1.00 65.00 1.00 6,500.00 100.00 2002 12 31 24,182 8,044 6,500 2001 2002 4,261 5,059 33% GMP ISO 9002 ISO14001 COS 2. 7 3 4 5% 5% 1-1-11
1. 2002 12 31 ( ) 2001 12 31 2000 12 31 24,818.22 22,387.51 17,801.80 12,146.33 8,019.49 5,178.80 16,762.36 15,172.48 11,279.10 11,762.36 9,172.48 8,429.10 5,000 6,000.00 2,850.00 11.85 14.08 76.40 8,044.01 7,200.95 6,446.30 2. 2002 2001 2000 18,737.75 17,780.58 13,600.58 10,016,33 7,539.06 6,991.14 7,275.01 5,084.94 5,238.64 7,211.23 5,372.09 5,213.12 5,059.31 4,261.01 3,434.88 3. 7,533.68-4,855.97-5,285.13-2,607.42 4. 2002 2002 2001 2000 % 66.70 65.21 62.80 % 62.90 59.17 53.28 / 0.778 0.656 1.00 1-1-12
3,500 35% 15.55 / 54,425 19.98 2002 1.37 / 2003 2 ( ) 1. 12 20 9,224.24 2. 50 19,800.00 3. 3,000.00 4. 5 4,457.41 5. 5 4,925.67 6. 30 4,085.53 7. 20 3,760.97 8. 10 4,041.42 53,295 1-1-13
1. A 2. 1.00 3. 3,500 35% 4. 15.55 / 5. 19.98 2002 6. 1.37 / 2003 2 6.11 / 2003 2 7. A 8. 9. 54,425 2,171 52,254 10. 2,171 4.00% ( ) 54425 ( ) 1632.91 ( ) 200.00 ( ) 133.00 ( ) 3.00 ( ) 190.51 ( ) 10.00 ( ) 2.00 ( ) 2171 4.00% 1-1-14
1. 0576 5010288 8009 0576 5016010 2. 38 45 0755 82943666 0755 82943121 3. 111 021 54043389 8004/8000 021 54043281 4. 7 1 0755 3637073 0771 5319460 5. 99 0571 7501489 0571 7542524 6. 7. 4 0571 85151338 0571 85151513 1-1-15
8. 146 021 63070766 021 63243522 9. 166 021 58708888 021 58754185 10. 528 021 68808888 2003 2 13 2003 2 17 2003 2 18 2003 2 19 2003 2 20 1-1-16
1. 89.7% 3,500 58.3% 1) 3 1-1-17
2) 3) 4) 2000 GMP ISO 2. 1-1-18
54,425 52,254 2003 2 6.11 / 346% 2003 2003 2002 2003 2 2003 9.24% 2003 7.93% 2002 1. 2002 12 31 11,382 5,000 66.7% 1) 2) 2001 2002 2. 2 1-1-19
1. 2002 89% 3 5 1) 2005 50% 89% 2) 2. 1) 2) 1) 2) 3) 4) FDA COS 1-1-20
5) 2003 3. 1) 2) BP USP EP FDA 3) 1) 2) 1. 2002 78% 1-1-21
1) 2) 2002 2003 2002 2003 2. 3. 1-1-22
3 1 2 3 1. 2. 1 2 1-1-23
1) 2) 3) 4) 5) ISO14001 ISO14001 6) 1 2 3 3. 1) 1-1-24
2) 0.5 2.5 1. 2. 3. 500 1-1-25
ISO 14001 1. a b c d 2. 1. 1-1-26
2. 2002 12 31 22% 3. WTO WTO 4. 80% 1) 2) 1-1-27
1) 2) 3) 1-1-28
1) 2) ZHEJIANG HUAHAI PHARMACEUTICAL CO., LTD. 3) 4) 2001 2 28 5) 6) 7) 0576-5010288 8) 0576-5016010 9) 317024 10) http //www.huahaipharm.com 11) hhphar@mail.tzptt.zj.cn 1. 1988 12 1991 12 1995 7 1997 1999 1 1-1-29
1999 11 2001 2 1) 1988 12 29 12500 1989 1 7 6137 5 10 2) 1989 1989 5 16 12,500 50% 3) 1991 1991 10 31 1991 197 9 378,176.70 1991 12 13 37.5 213,972.59 92,720.78 69,483.33 50% 14796881 7 4) 1995 1995 7 25 1995 271 1995 9 19 1995 338 700 1995 10 19 700 523,404.52 2,062,164.90 1-1-30
1,314,216.80 2,840,609 14796881 7 1/1 50% 5) 1997 1997 2 3 1997 51 1997 11 19 1997 501 1700 50% 1997 12 1700 7,185,949.26 7,185,949.26 2001 2,814,050.74 3310821000595 1/1 6) 1999 1999 1 13 1999 9 2 3 1700 3310821000595 1/1 7) 1999 1999 11 23 1999 1560 1999 11 12 1999 471 1700 2000 1 10 5100 50% 3310821000595 1/1 8) 2000 2000 11 30 5.15% 525.30 5 2 7 1-1-31
2000 12 8 2000 1237 2000 12 12 % 2,287.35 44.85 2,287.35 44.85 255.00 5.00 117.00 2.30 51.00 1.00 51.00 1.00 51.00 1.00 5,100.00 100.00 9) 2001 2001 1 19 [2001]5 7 2000 12 31 6500 1 1 2001 1 5 2001 1 30 2001 2001 004 2001 2 8 2001 2 28 3300001007639 6500 2001 2 28 % 2,915.25 44.85 2,915.25 44.85 325.00 5.00 149.50 2.30 65.00 1.00 65.00 1.00 65.00 1.00 6,500.00 100.00 1-1-32
2. 1) 1991 1991 10 31 1991197 1991 9 378,176.70 1995 1995 9 19 1995 338 1995 6 700 350 50% 1997 1 1997 11 16 1997 11 19 1997 501 700 1000 1700 350 850 1999 1 1999 11 11 1999 11 12 1999 471 1999 11 11 3400 5100 50% 2000 1 2000 12 8 2000 12 8 2000 1237 2001 1-1-33
1 2001 1 31 2001 004 2001 1 31 6500 2) 1995 1995 6 30 1995 7 25 1995 271 1995 6 30 6,299,508.55 9,912,494.00 57.35% 1997 1997 9 30 1997 10 23 1997 482 1997 9 30 10,512,871.74 17,698,821.00 68.3% 3. 1989 1) 1995 361.3 2) 1997 718.60 1997 49 1997 2001 99 2001 2 28 1-1-34
2001 2 8 9 2 1. 2002 12 31 596 7 18 132 1999 2002 6.2% 700 600 500 400 470 510 530 596 300 200 100 0 1999 2000 2001 2002 2002 12 31 1-1-35
5% 12% 29% 48% 2% 4% 2002 12 31 87 14.60% 47 7.89% 104 17.45% 358 60.07% 596 100.00% 2002 12 31 30 34 293 269 25 26-45 46 2. 1-1-36
1. 2. 3. 4. 5. 1-1-37
1 2000 2 2 2000 5 1999 500 3 2000 1999 4 2001 3 2000 5 2001 3 6 2001 4 7 2001 5 131 8 2001 6 2000 1000 9 2001 6 10 2001 7 2000 11 2001 11 2000 500 1. 2001 2 28 2. 44.85% 44.85% 1% 3. 3,500 % % 6,500.00 100.00 6,500.00 65.00 3,500.00 35.00 6,500.00 100.00 10,000.00 100.00 4. 3) 41 29 1-1-38
4) 39 2 301 5) 2000 4 19 29 468 25000 6) 1998 6 26 510 7) 1996 6 10 5 B 518 600 8) 1993 1 7 22 5 624 518 9) 57 5. 44.85% 6. 1-1-39
7 % 2,915.25 44.85 2,915.25 44.85 325.00 5.00 149.50 2.30 65.00 1.00 65.00 1.00 65.00 1.00 6,500.00 100.00 7. 7 8. 2002 12 31 9. 2002 12 31 29,839 1,360 1,101 2,437 3,055 157 220 1,329 26,784 1,106.57 882 1,108 2002-3.60 984 2,948 2002-185 -2.7 183 72 10. 2002 2 26 1-1-40
1. 1-1-41
2. 3. GMP ISO 4. GMP 5. 6. 1-1-42
99% 95% 5% 1. 1998 3 6 1,000 99% 2002 12 31 2,151 1,182 2002 2,732 121 2. 2001 2 19 1,500 99.95% 2002 12 31 1,567 1,559 2002 149 23 1-1-43
1. GMP GSP 2. 5300 3. 1) 95 1-1-44
17.5% GDP 12% 1400 43 1999 18 56% 2000 22.5 59.2% WTO 2) 1996 1999 5.5% 2000 3680 5 8% 2005 5400 4. OTC OTC 8 OTC 34 OTC 15% 30% OTC 4 OTC 5. 15 15 5 50% 60% 25% 45% 60% 1/4 1-1-45
1. 250 7% 9 OTC 2. 1) 2) 1-1-46
3. 1. 2. 3. WTO WTO 4. 60 1-1-47
5. 10 2 2001 220 6. 7. 100 1. 2. 3. 1. 1-1-48
2. 3. GMP Farmahispania 4. 1-1-49
1. 2. Xy20000622 3. 2002 6 1.3 72% 1-1-50
(63%) (26%) (11%) 2002 99% 2000 2001 2002 200 114.6 147.0 167 50 26.7 40.7 47 2.0 0.7 1.3 1.3 8 3.0 3.7 7.6 1.0 0.05 0.78 0.9 2003 1-1-51
ACE ACE (1), 2 CHF, CHF CHF CHF CHF;(3) 4 5 5- (SSRIs) 5-1. 1) HCl 1-1-52 L
2) L 3) L 4) 5) 1-1-53
2. 208 60 198 20 189 19 35 53 10 3 1. L- L- L- 2. 2002 50 6 56 662 134 796 2,579 1,807 4,386 1-1-54
1. 1) 2001 2002 2000 / ( 621.79 98,151.30 61,029,449.70 44.9% 1,716.24 24,959.97 42,837,279.28 31.5% 10,933.14 766.93 8,384,955.85 6.2% 8,050.97 2,441.04 19,652,731.16 14.4% 34,723.53 49.00 1,701,453.00 1.3% 14,261.77 41.50 591,863.25 0.4% 576.49 3,136.40 1,808,099.70 1.3% 129,546.14 136,005,831.94 100.0% 2001 508.90 151,203.65 76,948,033.67 47.3% 1,304.94 25,699.75 33,536,716.73 20.6% 8,407.49 1,065.70 8,959,858.86 5.5% 7,492.55 3,116.05 23,347,161.62 14.4% 24,823.32 391.15 9,709,642.22 6.0% 4,537.79 707.50 3,210,488.11 2.0% 372.79 18,396.35 6,858,005.99 4.2% 200,580.15 162,569,907.20 100.0% 2002 402.50 132,950.00 53,512,963.57 28.8% 811.24 50,434.15 40,914,211.71 22.0% 8,470.22 1,266.45 10,727,108.37 5.8% 6,654.39 7,800.50 51,907,546.55 27.9% 17,775.62 793.00 14,096,063.65 7.6% 2,694.31 2,080.26 5,604,870.01 3.0% 548.86 16,621.38 9,122,774.66 4.9% 211,945.74 185,885,538.52 100.0% 2003 2) 1-1-55
20,000 250 15,000 10,000 5,000 200 150 100 50-2000 2001 2002-2000 2001 2002 2002 2002 1.86 2001 14% / / 4,500.00 4,000.00 3,500.00 3,161.10 3,637.41 4,097.57 3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 1,049.86 877.04 810.50 500.00-2000 2001 2002 2001 2000 23.6%,,2001 2000 15.9% 2002 2001 2. 1-1-56
2002 90% / 2000 (%) 2001 (%) 2002 (%) 86 103 79 93 75 107 81 84 100 104 83 102 100 50 89 3. 4. 2002 89% 2002 % 2,084 11.2 7,719 41.5 2,745 14.8 1,226 6.6 4,814 25.9 5. 1) 1-1-57
2) a b 6. 7. 1-1-58
1) 2002 450 2002 133 30% 2) 400 2002 42 10% 3) 70 2002 7.8 10% 8. 2000 2000 % 2000 1999 Bristol-Myers Squibb 3.56-26.6 143 99 Merck & Company 17.90-22.3 18 7 Pfizer 5.53 7.6 91 89 Bristol-Myers Squibb 4.42 4.2 111 112 Astra Zeneca 11.88-2.7 34 25 Merck & Company 10.75 31.9 39 46 Shionogi & Company 0.77 2.5 433 476 Merck & Company 17.15 23.8 21 19 Novartis 7.27 66.1 64 67 Bristol-Myers Squibb 3.81 49.4 136 177 Irbesatran 2.77 53.8 179 177 Glaxo Smith-Kline 2.24 16.5 214 220 Hoffmann-La Roche 1.42 36.0 303 265 Glaxo Smith-Kline 23.49 19.0 11 8 Pfizer 21.40 7.21 13 9 HIV Merck & Company 5.30-20.2 95 60 Pfizer 4.36-17.7 115 71 Hoffmann-La Roche 2.96 16.3 167 71 Abbott Laboratories 2.11-0.5 224 214 2000 500 2000 10 44 6 15 24 4 10 1-1-59
3700 GMP 2002 6 8 GMP GMP 1,200 2000 6 2002 ISO 14001 1. 1999 8 A/0 PW 500 1-1-60
NaOH Na 2 HPO 4 NaOH PW (A ) PW (O ) PW PW (O ) PH PAM PW A PW O PW O NaOH PW PW 2. 1-1-61
1) 2) PH 15000m 3 /h 30m HCl.NH3 HCl 17mg/m 3 NH3 20mg/m 3 3. 4. 5. 1-1-62
1) 2) 3) 4) 5) 6. 1) 2) 3) 4) 5) 6) GB 15562.2-1995 7) ISO 14001 ISO 14001 7. 30% 8. ISO 14001 ISO 14001 1-1-63
ISO 14001 ISO 14001 1) ISO 14001 ISO 14001 ISO 14001 2) ISO 14001 ISO 14001 3) 4) 5) ISO14001 ISO 14001 1. 2. 1-1-64
1) 2) 3) 4) 5) 3. 1 2 3 4 5 GMP 2000 8 18 GMP 2002 8 GMP GMP 1. GMP GMP 2. GMP 1) 2) 3) 4) 1-1-65
5) 6) 7) GMP SOP GMP SOP 1. 2002 12 31 % 55,277,094.51 11,890,768.05 43,386,326.46 78% 58,183,783.07 15,876,831.14 42,306,951.93 73% 2,728,278.45 626,982.42 2,101,296.03 77% 4,024,750.00 1,508,832.07 2,515,917.93 63% 120,213,906.03 29,903,413.68 90,310,492.35 75% 2002 12 31 12,021 9,031 75% 2. 1) 2002 12 31 7 119,239.73 2001 12.72 058971 2001 12.74 058972 1-1-66 2 2062.12.17 3 2062.12.17
2002 12.85 0056 12 2071.12.30 2001 12,353.94 6 2050.11.21 058974 2001 31,202.61 2050.06.11 5139 2001 48,569.25 2050.06.11 5140 2001 27,075.64 2048.06.03 009 119,239.75 1.2 2001 058974 1250 2003 2) 1320023 1320024 1322516 ANLAI 1648470 1648475 2002 1 9 2002 1 21 0001367 QA QC ( ) QA GMP 1-1-67
34 14 4 16 GMP 1997 12 ISO 9002 2001 11 ISO 9001 2000 1001Q10062RIM COS RO CEP1997 023 Revision1 FDA WS-436 X-373-2000 USP24 EP CP2000 USP24 EP USP24 EP EP CP2000 EP CP2000 EP WS- X-99-95Z EP 1-1-68
1. 2002 5 4,942 51.2% 18.2% 2. 2002 72,799,776.68 38.85% 3. 5% 1. 1 2 3 4 1) 10% 2) 3) 1-1-69
4) 5) 1) 95% 94% 99% H2O2 Zn 3 2) 1/10 50% 70% 1.0MPa 0.4Mpa 16 10 (PCL-C) 35%( ) 10% ( ) 99% 0.5% 70% 82% 0.1% 3) 1-1-70
96% 99% 94% 65% 52% 30% 17% 1.7% 0.7% 6.7% 6.3% 4) 78% 98% 0.1% 0.5% 5) 6) ClSO3H 12 1 mol 8 1 mol 10% SOCl2 1/5 1-1-71
5% 7) 70% 80% 17.5% 1999 255 2000 151 2001 456.4 2. 1 2000 6 26 2 2000 6 26 3 2000 11 4 2001 7 5 2001 7 6 2001 8 30 7 2001 8 30 8 2001 8 30 9 2001 8 30 10 2001 12 11 2001 12 12 2001 12 S.S 13 2001 14 2001 15 2002 5 16 2002 12 1-1-72
1. 1) 2000 8 31 X20000379 2000X0507 2) 2000 8 31 X20000380 2000X0508 2. 1) 2001 2 17 2001XF0199 2) 2002 4 17 2002HF0095 3) 2002 8 16 2002HF0227 4) 2002 4 17 2002HF0096 3. 2001 5 15 2001XL0216 0217 1. 1) 3000 2001 354 1-1-73
2) 35 4 31 3) 2000 2002 2,462 2002 2005 10% 2000 2001 2002 541.03 572.09 1,348.88 2,462 % 3.99 3.22 7.20-2. 2001 80 3. 1) 2) 1-1-74
SDA SDA SDA SDA SDA SDA SDA SDA SDA SDA 50 SDA 100 SDA SDA SDA SDA SDA SDA SDA SDA SDA SDA SDA SDA SDA SDA SDA SDA SDA SDA SDA SDA SDA 3) 2003 1 2 3 4. 1) 1-1-75
2) 2001 9 14 1. 200 2. 1-1-76
1-1-77
1. 2. 2001 2 26 2002 2 23 2002 2 23 1-1-78
3. 1. [2000]25 2002 12 31 44.85% 44.85% 5% 2.3% 1% 1% 1% 99% 95% 2. 1-1-79
3. 1) 2001 11 99% 2001 12 31 2001 10 1,367,067.46 1,367,067.46 1 10% 2 2001 2001 2001 10 1,230,360.71 1,230,360.71 12 31 9% 2) 3) 4. 1-1-80
1) 300 5% 1-1-81
2) 5. 6. 7. 8. 14 1-1-82
[2001]64 2000 1 1 2002 12 31 2001 11 19 [20001]64 9. 1-1-83
1. 1) 41 1983 1983 1989 1989 1 1998 2000 2001 9 2001 2 2002 2 2) 39 1983 1989 1 1995 2000 2001 2 2001 11 2002 3) 65 1962 23482 2001 2 1-1-84
4) 73 1952 7 1990 8 GMP GMP 2001 2 5) 73 1951 1955 Metropolitan State College of Denver 2002 2 25 6) 47 1982 1990 1992 1996 1996 2001 2 7) 31 2001 2 8) 40 1988 1981 1988 1989 1 1-1-85
2001 2 9) 38 1988 7 2. 1998 2001 2 1) 45 2001 2 2) 69 1953 4 60 2001 2 3) 44 2001 2 3. 1) 2) 51 1978 3) 41 1987 11 2001 7 EMBA 1-1-86
4) 41 1983 7 1986 8 TVA NFDA 5) 41 1983 7 6) 45 1977 9 7) 49 8) 39 1987 7 4. 1) 2) 59 1-1-87
3) 32 2001 4) 34 5) 54 1975 2002 12 31 ( ) % % 2002 12 31 2,915.25 44.85 2.915.25 44.85 2,915.25 29.15 2,915.25 29.15 2002 12 31 2002 12 31 % 250 50 250 50 1-1-88
1. 2002 12 3.8 2002 2002 2.4 4.4 2. 5 12 3. 200 2002 4. 2001 2001 38,000 1-1-89
1. 2001 2 2002 2 25 3 33% 2. 1 300 5% 2 3 4 5 6 1 2 3 4 300 5% 5 6 3. 1-1-90
1. 2. 1-1-91
3. 2002 2 25 2001 1) 6 2) 1-1-92
3) 1-1-93
4) 1-1-94
4. 1) 2) 2 2 1-1-95
1. 20% 10% 10% 1-1-96
10% 10% 5% 5% 2. 40% 30% 3000 1-1-97
ISO 14000 2000 ISO 9001 3. 2003 029 1-1-98
1) 2) 3) 4. 1 2 3 1-1-99
5. GMP ISO 9001 2000 6 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) ( ) 1-1-100
1. 1) 2) 3 2 5 50% 1-1-101
3) 2000 4) 20% 10% 10% 10% 5% 5% 2. 1) 2) 1/3 3. 1-1-102
1) 2) 4. 1) 2) GMP ISO 9001 ISO14001 1-1-103
2000 12 31 2001 12 31 2002 12 31 2000 2001 2002 2002 2003 019 2002 2001 2000 187,377,537.61 177,805,762.02 136,005,831.94 86,345,739.22 101,594,722.61 64,637,462.48 868,547.78 820,459.60 1,456,940.98-100,163,250.61 75,390,579.81 69,911,428.48-15,578.05 170,949.93 172,322.79 3,945,754.18 2,954,260.51 1,417,181.22 21,540,441.44 19,299,428.24 14,883,241.88 1,942,536.41 2,458,418.67 1,396,961.48-72,750,096.63 50,849,422.32 52,386,366.69-4,495,622.51 763,702.92 253,487.56 197,771.16 106,487.38 891,324.56 1,821,915.93 1,125,337.45-72,112,259.63 53,720,900.06 52,131,219.54 21,507,198.35 10,836,642.68 17,425,008.49 11,996.66 274,183.83 357,400.93-50,593,064.62 42,610,073.55 34,348,810.12-815,994.52 50,593,064.62 41,794,079.03 5,271,592.12 4,487,019.06 2,635,796.06 2,243,509.53 1-1-104
42,685,676.44 35,063,550.44 42,685,676.44 35,063,550.44 1. 2. 3. 4. 5. 6. 2002 12 31 2001 12 31 2000 12 31 54,607,498.79 80,681,655.66 62,864,441.67 791,800.00 333,000.00 23,325,039.90 23,811,851.25 17,990,846.06 2,534,866.71 4,908,210.89 21,419,022.82 680,531.06 422,010.00 439,843.27 1,655,624.49 38,379,937.62 28,647,380.60 18,337,046.23 121,975,298.57 138,804,108.40 121,051,200.05 0.00 0.00 "-" 120,213,906.03 72,251,301.04 54,644,717.05 29,903,413.68 20,956,756.20 14,213,177.16 1-1-105
90,310,492.35 51,294,544.84 40,431,539.89 407,128.83 192,797.80 89,903,363.52 51,101,747.04 40,431,539.89 31,559,884.31 29,093,118.45 11,356,428.55 121,463,247.83 80,194,865.49 51,787,968.44 4,743,658.13 4,876,095.53 4,984,575.90 194,221.03 4,743,658.13 4,876,095.53 5,178,796.93 248,182,204.53 223,875,069.42 178,017,965.42 2002 12 31 2001 12 31 2000 12 31 25,000,000.00 20,000,000.00 1,225,000.00 7,023,230.39 11,546,231.78 9,530,715.78 200,847.69 188,540.26 3,051,263.12 3,654,629.12 817,261.06 4,923,309.71 3,608,862.20 2,290,280.22 64,749,226.88 35,063,550.44 28,723,095.10 4,560,551.65 4,633,286.61 18,704,837.58 141,142.24 137,193.12 244,282.15 12,858,884.92 6,540,502.03 6,080,459.43 115,150.00 127,043.00 80,082.00 17,820,000.00 117,623,606.60 91,724,838.56 84,291,013.32 50,000,000.00 60,000,000.00 28,500,000.00 50,000,000.00 60,000,000.00 28,500,000.00 1-1-106
167,623,606.60 151,724,838.56 112,791,013.32 118,455.29 140,752.75 763,997.10 65,000,000.00 65,000,000.00 523,276.35 14,916,866.29 7,009,478.11 4,972,288.76 2,336,492.70 80,440,142.64 72,009,478.11 64,462,955.00 248,182,204.53 223,875,069.42 178,017,965.42 219,216,121.77 956,405.84 13,949,454.40 234,121,982.01 96,316,459.53 14,425,400.56 23,646,864.82 24,396,416.98 158,785,141.89 75,336,840.12 37,418.00 37,418.00 48,597,134.85 48,597,134.85-48,559,716.85 1-1-107
65,000,000.00 65,000,000.00 100,000,000.00 17,851,280.14 34,438.09 117,851,280.14-52,851,280.14-26,074,156.87 1. - 50,593,064.62-11,996.66 381,589.07 9,246,546.47 132,437.40 : : : 3,575.32 181,258.69 4,804,949.05 : : : -9,869,363.78 : -1,755,511.98 : 21,318,345.13 287,953.47 75,336,840.12 2. 3. 1-1-108
54,607,498.79 80,681,655.66-26,074,156.87 2001 1 2000 2001 2001 2002 1) 2) 2000 2001 2002 3) 4) (1995)11 (96)2 1. 1-1-109
(%) 10,597,428.17 99 2000 2002 1,000 14,250,000.00 95 2001 2002 1,500 2. 2001 2 150 1000 80% 2001 118 2001 11 2001 10 31 99% 2001 12 11 2001 2 19 95% 2001 3. 2002 2001 2001 2 19 99% 2001 2000 1. 2002 2001 2000 18,737.75 17,780.58 13,600.58 10,016.32 7,539.06 6,991.14 1-1-110
7,275.01 5,084.94 5,238.64 7,211.23 5,372.09 5,213.12 5,059.31 4,261.01 3,434.88 17.4% 19.7% 21.4% 2001 2002 2002 2003 2. 2002 2001 2000 185,885,538.52 99.2% 162,569,907.20 91.4% 136,005,831.94 100.0% 1,491,999.09 0.8% 15,235,854.82 8.6% 0.0% 187,377,537.61 100.0% 177,805,762.02 100.0% 136,005,831.94 100.0% 2001 2000 2002 2002 2001 14% 3. 2000 76.37 2001 449.6 449.6 301 2001 2002 02003 4. 1-1-111
301 450 2002 2001 2000 23.35 13 7 89.13-141 -93 172 +393 +345-86 % 7.8 8.1 2.5 4,666 3,916 3,521 2 8% 2000 2001,2002 2003 5. 33% 2001 679 2001 4,663,569.10 10% 1,718,819.13 405,660.75 6,788,048.98 2002 1. 1) 2) 1-1-112
3) 2. 2000 2001 2002 5671.20 8454.73 11689.77 6328.14 6245.91 4814.10 1601.24 1556.35 2084.68 13600.58 16256.99 18588.55 % 88.23 90.43 88.79 FOB 3. 1) 2) 1. 2001 2000 105 2002 194, 2. 2002 2001 2000 84,892,239.20 87,204,776.41 64,637,462.48 1,453,500.02 14,389,946.20 1-1-113
86,345,739.22 101,594,722.61 64,637,462.48 3. 2002 53,512,963.57 33,004,303.62 38.32% 40,914,211.71 20,797,456.51 49.17% 51,907,546.55 12,216,755.55 76.46% 14,096,063.65 7,729,174.30 45.17% 10,727,108.37 4,266,949.90 60.22% 14,727,644.67 11,018,750.96 25.18% 185,885,538.52 89,033,390.84 52.10% 4. 2001 ( ) ( ) 16,257.00 57,583.23 47,620.05 50,886.32 130,778.48 45,820.99 9,146.44 37,740.79 13,513.12 37,746.71 98,939.51 23,300.30 % 43.74 34.46 71.62 25.82 24.35 49.15 2001 41% 2001 43.74%,2002 52 2001 5. 2000 21.48 2001 39.27 2002 65.7 6. 2001 2000 30.73% 43.69% 2000 12 31 2001 1 1 2001 2000 [2001]7 2001 2 1 1-1-114
2001 0.6% 1 2002 86.86 2001 7. 2002 2001 450 12 20 150 130 10 115 25,2337.78 6,950,000.00 1,852,337.778 1. 2,000 30% 3% 10 25 3.88 9.7% 3% 7 13.86% 3% 6 16.17% 3% 5 19.4% 3% 1-1-115
,,,, 2002 12 31 2001 12 31 2002 12 31 (1) 32,632,146.01 22,644,948.50 55,277,094.51 34,990,258.03 23,541,874.04 348,349.00 58,183,783.07 909,647.00 1,837,131.45 18,500.00 2,728,278.45 3,719,250.00 500,000.00 194,500.00 4,024,750.00 72,251,301.04 48,523,953.99 561,349.00 120,213,906.03 (2) 8,641,619.08 3,249,148.97 11,890,768.05 10,753,074.09 5,250,487.88 126,730.83 15,876,831.14 423,936.60 216,679.30 13,633.48 626,982.42 1,138,126.43 530,230.32 159,524.68 1,508,832.07 20,956,756.20 9,246,546.47 299,888.99 29,903,413.68 (3) 23,990,526.93 43,386,326.46 24,237,183.94 42,306,951.93 485,710.40 2,101,296.03 2,581,123.57 2,515,917.93 51,294,544.84 90,310,492.35 (4) 2001 12 31 2002 12 31 192,797.80 214,331.03 407,128.83 192,797.80 214,331.03 407,128.83 (5) 23,797,729.13 42,979,197.63 24,237,183.94 42,306,951.93 485,710.40 2,101,296.03 2,581,123.57 2,515,917.93 51,101,747.04 89,903,363.52 (6) 72,251,301.04 10,454,679.63 38,069,274.36 48,523,953.99 1-1-116
561,349.00 561,349.00 120,213,906.03 20,956,756.20 9,246,546.47 9,246,546.47 299,888.99 299,888.99 29,903,413.68 (7) 3,802,197.00 2002 12 31 22,271,672.53 1,937,974.21 3,500 2001 12 31 2000 32% 409 110 251 789 146 2002 2001 2000 47% 2. 2001 12 31 29,093,118.45 41,468,418.97 38,069,274.36 932,378.75 3. 1998.3.6-2018.3 99% 1,200,000.00 9,397,428.17 11,727,074.63.5 2001.2.19-2051. 95% 14,250,000.00 14,807,969.97 2.18 1-1-117
15,450,000.00 9,397,428.17 26,535.044.60 32.45% 4. 2002 12 31 2001 12 31 (%) (%) 1 24,538,357.79 99.91 5 1,226,917.89 25,051,632.90 99.94 5 1,252,581.65 1 2 7,000.00 0.03 20 1,400.00 16,000.00 0.06 20 3,200.00 2 3 16,000.00 0.06 50 8,000.00 (%) (%) 24,561,357.79 100.00 1,236,317.89 25,067,632.90 100.00 1,255,781.65 5% 5% 10,541,821.81 42.92% 5. 2002 12 31 2001 12 31 (%) (%) (%) (%) 1 2,014,846.01 66.15 5 100,742.30 5,105,485.15 95.09 5 255,274.26 1 2 773,860.00 25.41 20 154,772.00 10,000.00 0.19 20 2,000.00 2 3 3,350.00 0.11 50 1,675.00 100,000.00 1.86 50 50,000.00 3 253,770.00 8.33 100 253,770.00 153,770.00 2.86 100 153,770.00 3,045,826.01 100.00 510,959.30 5,369,255.15 100.00 461,044.26 5% 5% 762,040.00 1 261,967.40 1 1-1-118
223,500.00 1 135,000.00 1 2 107,920.80 1 1,490,428.20 48.93% 6. 2002 12 31 2001 12 31 2001 12 31 2002 12 31 9,108,608.85 8,652,269.18 225,352.96 225,352.96 26,945,998.12 19,849,702.10 195,713.45 88,546.20 107,167.25 770,297.73 341,122.77 1,887,553.13 38,712,457.83 28,843,094.05 195,713.45 225,352.96 88,546.20 332,520.21 7. 2002 12 31 248,182,204.53 243,438,546.40 8. 2001 12 31 2002 12 31 6,223,950.83 4,876,095.53 4,743,658.13 182-514 1. 2002 12 31 1-1-119
2002 12 31 2001 12 31 35,000,000.00 30,000,000.00 15,000,000.00 30,000,000.00 50,000,000.00 60,000,000.00 2002 12 31 2. 2002 12 31 64,749,226.88 3. 2002 12 31 17,372,800.00 1,288,000.00 4,872,800.00 1,030,400.00 18,680,000.00 10,034,400.00 4. 2002 12 31 2001 12 31 20,000,000.00 1,225,000.00 5% 5% 5. 2002 12 31 2001 12 31 % % 1 6,709,450.92 95.53 10,769,595.79 93.28 1 2 50,509.00 0.72 157,282.86 1.36 2 3 35,103.61 0.50 140,094.94 1.21 3 228,166.86 3.25 479,258.19 4.15 7,023,230.39 100.00 11,546,231.78 100.00 5% 5% 6. 1-1-120
2002 12 31 2001 12 31 % % 1 200,847.69 100.00 188,540.26 100.00 5% 5% 7. 2002 12 31 2001 12 31 % % 1 8,047,107.42 62.58 4,135,833.62 63.23 1 2 3,517,432.90 27.35 1,180,224.42 18.04 2 3 411,266.87 3.20 327,373.59 5.01 3 883,077.73 6.87 897,070.40 13.72 12,858,884.92 100.00 6,540,502.03 100.00 5% 5% 5,000,000.00 8. 2,117,440.21 796,869.03 676,273.15 2002 12 31 2001 12 31 29,040,028.27 15,726,002.38 29,040,028.27 15,726,002.38 3,237,461.34 1,753,177.52 1,489,232.22 806,461.66 647,492.26 350,635.50 647,492.26 350,635.50 647,492.26 350,635.50 64,749,226.88 35,063,550.44 9. 2002 12 31 2001 12 31-2,105,734.02 934,811.87 1-1-121
3,613.90 6,632,176.34 5,524,473.09 34,109.33 40,011.49 4,560,551.66 4,633,286.61 10. 2002 12 31 2001 12 31 107,859.60 94,901.88 33,282.64 31,278.82 2,299.05 8,713.37 141,142.24 137,193.12 11. 2002 12 31 2001 12 31 115,150.00 127,043.00 2002.12.21 2002.12.31 1. 2002 12 31 2001 12 31 44.85% 29,152,500.00 29,152,500.00 44.85% 29,152,500.00 29,152,500.00 5% 3,250,000.00 3,250,000.00 2.3% 1,495,000.00 1,495,000.00 1% 650,000.00 650,000.00 1% 650,000.00 650,000.00 1% 650,000.00 650,000.00 2. 100.00% 65,000,000.00 65,000,000.00 2002 287,809.50 235,466.85 523,276.35 2002 287,809.50 235,466.85 523,276.35 [2002]7 2001 3. 2001 4,672,985.41 2,336,492.70 7,009,478.11 2002 5,271,592.12 2,635,796.06 7,907,388.18 2002 1-1-122
2002 9,944,577.53 4,972,288.76 14,916,866.29 4. (1) 2001 2002 815,994.52 (2) 42,610,073.55 50,593,064.62 (3) 4,487,019.06 5,271,592.12 (4) 2,243,509.53 2,635,796.06 (5) 35,063,550.44 42,685,676.44 (6) 2002 2 25 2001 2001 12 31 2002 2001 12 31 2003 2002 12 31 2003 1 1 7,533.68-4,855.97-5,285.13-2,607.42 2002 1. 2001 1. 6.8% 3,082,998.92 6.8% 2. 2001 23,922,268.15 2,645,865.63 2001 2,645,865.63 2001 3. 1999 2000 5,329,390.26 17% 15% 2001 5,329,390.26 11,058,254.81 2. 2001 2001 1-1-123
1. 15,000,000.00 2. 1,700,000.00 16,700,000.00 1. 2. 3. 1998 1999 [1997]28 33% 2000 33% 1998 1999 2001 4 1998 1999 519 2001 5 22 1998 1999 2000 2001 33% 1999 2000 2001 4. 2001 1992 225 75% 2000 5% 2001 75% 3,840,000.00 4,495,622.50 1 2,245,622.50 1-1-124
2 2,250,000.00 2001 12 5. 2001 2 99.95% 2002 12 31 1,567 1,559 2002 149 23 6. 2002 2001 2000 27,320,456.24 26,141,722.68 18,684,212.03 696,817 109,509 495,184 99% 7. 2000 12 31 2000 2001 2002 2000 1 2000 136,005,831.94 136,005,831.94 64,637,462.48 67,680,480.60-3,043,018.12 1,456,940.98 1,262,181.51 194,759.47-69,911,428.48 67,063,169.83 2,848,258.65-172,322.79 172,322.79 1,417,181.22 1,404,682.02 12,499.20 14,883,241.88 14,206,473.93 676,767.95 1,396,961.48 1,407,016.19-10,054.71-52,386,366.69 50,217,320.48 2,169,046.21-763,702.92 2,193,161.97-1,429,459.05 106,487.38 106,487.38 1,125,337.45 1,103,481.90 21,855.55 1-1-125
- 52,131,219.54 51,413,487.93 717,731.61 17,425,008.49 16,569,493.81 855,514.68 357,400.93 357,400.93-34,348,810.12 34,843,994.12-495,184.00-2 2000 62,864,441.67 58,939,772.21 3,924,669.46 17,990,846.06 17,990,846.06 21,419,022.82 28,658,157.82-7,239,135.00 439,843.27 412,773.27 27,070.00 18,337,046.23 16,451,977.41 1,885,068.82 121,051,200.05 122,453,526.77-1,402,326.72 3,055,988.39-3,055,988.39 3,055,988.39-3,055,988.39 1-1-126
54,644,717.05 50,802,140.27 3,842,576.78 14,213,177.16 13,669,142.80 544,034.36 40,431,539.89 37,132,997.47 3,298,542.42 40,431,539.89 37,132,997.47 3,298,542.42 11,356,428.55 7,639,839.55 3,716,589.00 51,787,968.44 44,772,837.02 7,015,131.42 4,984,575.90 4,432,056.98 552,518.92 194,221.03 194,221.03 5,178,796.93 4,432,056.98 746,739.95 178,017,965.42 174,714,409.16 3,303,556.26 9,530,715.78 8,754,475.55 776,240.23 817,261.06 557,261.06 260,000.00 2,290,280.22 2,051,862.88 238,417.34 28,723,095.10 28,723,095.10 18,704,837.58 17,586,458.97 1,118,378.61 244,282.15 210,301.48 33,980.67 6,080,459.43 5,430,872.12 649,587.31 80,082.00 80,082.00 17,820,000.00 17,820,000.00 84,291,013.32 81,214,409.16 3,076,604.16 28,500,000.00 28,500,000.00 1-1-127
28,500,000.00 28,500,000.00 112,791,013.32 109,714,409.16 3,076,604.16 763,997.10 763,997.10-64,462,955.00 65,000,000.00-537,045.00 178,017,965.42 174,714,409.16 3,303,556.26 8. 1) 2000 136,005,831.94 138,229,945.09-2,224,113.15 67,352,358.59 67,352,358.59 0 1,404,682.02 1,404,682.02 0 452,191.18 1,282,801.20-830,610.02 66,796,600.15 68,190,103.28-1,393,503.13 172,322.79 172,322.79 0 13,820,360.54 13,820,360.54 0 1,407,016.19 1,407,016.19 0 51,741,546.21 53,135,049.34-1,393,503.13 2,150,584.42 2,150,584.42 0 106,487.38 106,487.38 0-807,074.91 750,879.27-1,557,954.18 54,805,692.92 54,641,241.87 164,451.05 2,650,486.09 1 2,650,486.09 6,082,617.98 1 2,148,175.13 2 2,705,167.85 3 1,229,275.00 51,209,109.98 33% 1-1-128
16,899,006.29 6,555,032.93 1 10% 1,689,900.63 2 4,865,132.30 10,343,973.36 ( ) 10,343,973.36 2000 54,641,241.87 54,805,692.92 164,451.05 1 138,229,945.09 136,005,831.94 2,224,113.15,2000 1999 2,224,113.15 2000 1999, 1999 2000 2 1,282,801.20 452,191.18 830,610.02 750,879.27-807,074.91 1,557,954.18 2,388,564.20 2000 61 1999 706,384.82 1999 77 1999 82 2000 50 97 98 99 67,334.61 133,540.95 104,996.73 305,872.29 2000 1 95 14,623.99 96 63,765.30 97 185,274.01 98 335,683.59 99 356,567.91 2 95 21,347.43 3 97 102,877.77 4 97 55,446.64 5 94 76,438.14 95 164,282.31 1,376,307.09 2) 2001 1-1-129
52,295,966.42 52,295,966.42 0 4,637,514.90 4,637,514.90 0 7,344,290.88 10,949,790.80-3,605,599.92 1 1,916,673.27 1,916,673.27 0 2 0 3,605,499.92-3,605,599.92 3 1,852,337.78 1,852,337.78 0 4 1,325,279.83 1,325,279.83 0 52,250,000.00 2,250,000.00 0 49,589,190.44 45,983,690.52 3,605,599.92 33% 33% 16,364,432.85 15,174,617.87 1,189,814.98 0 1,517,461.79-1,517,461.79 1 10% 0 1,517,461.79-1,517,461.79 16,364,432.85 13,657,156.08 2,707,276.77 6,788,048.98 0 6,788,048.98 9,576,383.87 13,657,156.08-4,080,772.21 2001 9,576,383.87 13,657,156.08 4,080,772.21 [2001]19 [2000]13 2000 4,663,569.10 2000 1,229,275.00 1,229,275.00 33% 405,660.75 [2001]9 94 001 2000 10% 1,718,819.13 2001 7,210,999.84 2001 50% 3,605,499.92 33% 1,189,814.98 94 001 2001 10% 1,517,461.79 1-1-130
3) 2002 2002 9. 2001 2002 2001 4450 2001 2000 / / / 506.44 621.79-115.35 15,1203.65-1,744.13 1,075.25 1,718.23-642.98 30,656.3-1,971.14 7,630.59 8,764.04-1,133.45 3,116.05-353.19 25,263.18 34,723.53-9,460.35 391.15-370.04 8,568.93 8,663.53-94.6 1,065.7-10.08 4,448.58 2002 2001 4000 2002 10. 2002 12 30 1,000 2003 1 3 11. 2002 12 31 22,271,672.53 1,937,974.21 3,500 67% 12. 2000 2000 34,348,810.12 17,723,342.40 1-1-131
13,478,615.44 65,550,767.96 3,859,886.71 1,929,943.36 59,760,937.89 60,576,932.41-815,994.52 13. 14. 2002 12 31 15. 2003 2003 2003 2003 16. 2003 2003 2003 17. 2003 1-1-132
2003 2003 18. 2002 12 31 19. 1989 1 6 1991.10.31 37.5 (1991) 197 1995.09.19 700 (1995) 338 1997.11.19 1700 (1997)501 1999.11.12 5100 (1999)471 2000.12.08 5100 (2000) 1237 2001.01.31 6500 (2001) 004 1. 2002 2001 2000 1.04 1.51 1.44 0.71 1.20 1.22 % 66.70 65.21 62.80 7.95 7.85 7.26 2.58 4.32 5.32 0 0 0 0 0 0 / 1.238 1.108 / 0.778 0.6555 / 0.112 0.4971 2. 2001 1-1-133
% % / / 104.70 87.90 1.160 1.160 70.61 59.29 0.782 0.782 59.17 49.68 0.656 0.656 54.38 45.66 0.602 0.602 3. 2002 % % / / 124.52 102.94 1.541 1.541 90.44 74.76 1.119 1.119 62.90 51.99 0.778 0.778 58.00 47.96 0.718 0.718 4. 2003 2, 2002 2003 % % / / 7.93 9.24 0.50 0.53 5. ROE / / / / / / / ROE E0 NP/2 Ei Mi/M0 Ej Mj/M0 P P NP E0 Ei Ej M0 Mi Mj 1-1-134
ROE EPS S0 S1 Si Mi/M0 Sj Mj/M0 P P S0 S1 Si Sj M0 Mi Mj 1. 2002 12 31 2001 12 31 2000 12 31 12,146 8,020 5,179 12,198 13,880 12,105 19% 17.2% 14.9% 31.5% 20.6% 15.2% 0.755 0.885 0.745 53% 2003 2003 2002 2002 0.7552001 2003 2004 1-1-135
2 2. 2002 7,534 2002 12 31 66.7% 1.04 5000 3. 2000 2001 2002 % 13,600.58 17,780.58 18,737.75 17.4% 3,434.88 4,261.01 5,059.31 21.4% 2001 2002 2003 4. 1-1-136
/ 600 500 400 300 200 100-499 435 401 2000 2001 2002 2001 435 / 2000 13% 2002 8 1 2 5. 2003 2003 2004 6. 2003 2004 2005 2.6 2.9 0.8 6.3 2002 2 25 2001 7. 1-1-137
1) 2) 2 2003 2002 8. WTO 1-1-138
1) 2) 3) 1. 2005 15 10 8,000 50% 2. 1) ACE ( / ) ( ) 180 180 180 50 80 120-150 8 12 30-50 5 10 5 20 5 20 2005 ( ) 1-1-139
5 10 1 10 20-50 1 10 20-50 1 10 20-50 1 30 100 200 2 1 30 100 1.0 5 10 30 100 20 50 1 2 3 20 50 10 30 2) GMP 2003 3. 100% 100% 1-1-140
3 6 15 91 1. 10% 2. 2003 3000 1) 2) 3) 1-1-141
GSP 1) 2) OTC 3) 4) OTC 5) 1) 2003 3000 2) 2003 2004 9224 12 20 2004 3) 2003 1.98 50 / 2004 4) 2003 2.1 (1) 5 (2) 10 (3) 5 (4) 20 5 1-1-142
GMP ISO 9001 2000 ISO14001 1) 2) 1. 1) 2) 3) 4) 2. 2003 2004 1-1-143
1. 40-50% WHO 1985 2015 30 1320 2450 85% WHO 1200 1/4 WHO 2. - RAS - 1-1-144
RAS ACEI II AngII ACE 1981 10 ACE AngII AT 1 Ang 1987 2000 400 21% 1986 1988 1992 1993 1996 1998 1999 134 265.9 270 293 342 360 398 500 2001 3 19.2% ACE 18.2% 13% 11.8%, 38% 95 ACE 9% 1986 4 1987 4 1988 4 1989 5 1990 4 1991 5 1992 6 1995 3 1996 3 1997 3 1998 4 1999 4 2002 3 20 500 2001 3 10% 60 70-80 90 ACE 90 2005 ACE AngII 1-1-145
1. WHO 3%-5% 1000 2020 15-17% 2. MAOI NARI 5- - 5-HTIA 5-HTIA 5-1986 5-5-HT 5-HT SSRIS SSRIS 1999 97 5-1996 31 2.4% 1997 46.46 18.8% 5-20% 1997 1999 1558.7 2797.7 3820.4 79.5% 36.6% 9 95% 1-1-146
1. IDDM NIDDM WHO 1998 1.43 2000 1.6 90% II 2004 2.4 2025 3 45% 200% 15 0.67% 3.21% 2010 6000 2. 2000 59 1.9% 1999 26% II H Meglitinide Meglitinide 1. 80 2000 4700 1390 2001 1999 67.4% 60 2010 150 1-1-147
1998-2010 2002 15% 2010 150 2. (a) (b) HIV HIV (indinavir) (saquinavir) (ritonavir) amprinavir nelfinavir 95-99 5 97 HIV 10.65 39.4% 2000 19.95 ADIS 48.19% 2005 32 HIV HIV 2000 4000 1-1-148
3,500 A 54,425, 52,254 ( ) 1. 12 9,224.24 6,000 6,715.64 4.69 20 5.40 % 42.27 31.85 2. 50 19,800 10000 5 3. 3,000 4. 5 4,457.41 1,537.52 4.03 4.93 5. 5 4,925.67 1,735.05 4.01 4.94 6. 30 4,085.53 1,361.61 4.07 7. 20 3,760.97 4.95 1,439.24 3.77 4.56 37.84 26.86 39.57 27.77 36.14 25.85 40.28 29.02 1-1-149
8. 10 4,041.42 1,494.81 3.84 4.67 39.68 28.41 53,295 6,000 2003 2004 2005 1. 12 20 8,900 4,180 2,144 2. 50 3,000 14,000 2,800 3. 4. 5 1,700 1,300 1,948 1,742 767 5. 5 2,043 1,863 1,020 6. 5 1,565 1,880 640 7. 20 2,037 1,324 400 8. 10 1,800 1,782 460 22,993 28,071 8,231 1. 6.3 6.3 / 2. 8 2002 12 31 66.7% 20% 3. 1-1-150
2.4 4. 48,753.9 2002 2 25 2001 1. 2000 271 2001 1110 2. 15,224.24 9,580.26 5,643.74 1-1-151
1 1053.53 3029.24 961.54 0.00 5044.31 1.1 342.7 669.34 227.95 0 1240.00 2980m 2 1.2 228.39 754.05 248.91 0 1231.35 1986m 2 1.3 228.39 613.26 189.32 0 1030.96 1986m 2 1.4 228.39 571.55 187.33 0 987.27 1986m 2 1.5 25.66 421.04 108.03 0 554.73 987m 2 2 266.34 454.7 51.76 0 772.80 2.1 121.64 12 12.2 145.84 6082m 2 2.2 1 36.85 5 7.5 49.35 737m 2 2.3 2 36.85 5 7.5 49.35 737m 2.4 71 242.7 14.56 0 328.26 1220m 2 2.5 190 10 200 3 284.7 678.2 470.1 0.0 1432.99 4 5 15 10 0 30 1609.56 4177.14 1493.40 0.00 7280.10 1311.35 1311.35 687.32 8% 301.5 9580.26 5643.98 15224.24 3. 1) MAP 2 II AT1 AngII (4 2 ) 2) 1-1-152
ACE 1/5 ACE 2000 30 ACE 8 ACE MERCK (Losartan) 1994 1996 AngII Sanofi ACE ACE AngII ACE 80 ACE ACE ACE 2000 17.15 500 21 23.8% 3) ACE 2000 1-1-153
8 USP24 4- -2-4) / USP24 12 WS-436-(X-373)-200 10 5 5 (4 100 2 ) 5) 4 2 1-1-154
6) 4. 5. [2000]101 668.5 6. 50% 70% 100% 2003 7. 3.7 6715 31.85% 5.4 50 1. 2001 1000 2. 19,800 17,000 14,150 2,850 2,800 14,150 6,000 2300 1 8 3850 2000 2,850 2800 3. 1) 1-1-155
HIV l HIV HIV l HIV HIV P450 CYP3A4 CYP3A5 2) (indinavir) HIV l Merck Co Crixivan 80 1997 5.82 ( 48%) 1998 6.763 1999 6.65 2000 5.288 (ritonavir) HIV Abbott HIV 1994 P450 CYP3A4 CYP3A5 1996 1997 1.7 1998 2.5 47.1% 1999 2.1 16% 2005 1.75 2000 Abbott Kaletra(1opinavir ) 2001 (nelfinavir) HIV Agouron Tobacco (JT ) 1994 HIV 1997 1997 5700 1998 5.646 1999 8.907 1998 58.9% 2000 9.36 1999 5.1% 2005 11 3) HIV 4) / 20 1-1-156
20 10 5) 1S- -1- -2- L- L- 6) 4. 5. [2002]31 2000 1000 / 6. 50% 70% 100% 2003 2004 7. 5.0 1.0 50.5% 5 1-1-157
1. 2001 354 2. 1 900 900 2 45 45 3 300 24 324 4 500 25 525 5 300 24 324 6 650 52 702 7 80 100 180 945 1830 225 3000 3. 1) ACE 2) ACE GMP 9 EEC FDA 4. 5. 1-1-158
1) 1 2003 2) 2 2003 2003 3) 3 2004 MIS 6. 1) 2) 3) 6 13 22 11 8 6 2 7. 68 54 3 11 5 1. 2001 252 2. 4,457.41 2,990.5 1,466.91 1-1-159
1 216.0 1203.5 246.5 1666.0 2 160.0 50.0 210.0 3 ( ) 23.4 78.0 72.0 173.4 4 19.4 139.6 93.0 252.0 5 49.2 80.0 50.0 179.2 6 90.0 90.0 308.0 1661.1 601.5 2570.6 277.5 277.5 142.4 142.4 1466.91 4457.41 3. 1) ACE ACE 2 3 2) 1999 4.24 1998 12% 3) ACE 180 / 4) 1-1-160
5 5) L- 6) 4. 5. [2002]32 6. 50% 100% 2003 2004 7. 1 1538 28.86% 4.93 5 1. 2001 197 2. 4,925.73 2,955.86 1,969.87 523.5 1770.0 282.0 2575.5 239.5 239.5 1-1-161
140.8 140.8 1969.87 4925.67 3. 1) 5- (SSRIs) 5-5- 321 5 SSRIs 2) 5- Seroxat SKB 1998 2000 18.1 8 24.5% 2001 3) 4) 5 / 5) 3S.4R 6) 4. 1-1-162
5. [2002]32 6. 50% 100% 2003 7. 1.25 2888 27.77% 4.94 30 1. 2001 202 2. 4,085.53 2,995.4 1,090.13 1 288 1327 270 1885 2 17 58 3 78 3 17 81 4 102 4 474 474 5 16 20 36 812 1486 277 2575 277.8 277.8 142.6 142.6 1090.13 4085.53 3. 1) 5-1-1-163
(SSRIs) 5-HT 5-HT 5-HT 2) Zoloft 1990 12 1991 SSRIs 2000 18.9 7 14.7% 3) 4) 30 / 5) Friedel Crafts 6) 4. 5. [2002]32 6. 1-1-164
50% 100% 2003 2004 7. 7500 1361 25.85% 4.95 20 1. 2001 253 2. 3,760.97 2,931.3 829.67 1 216.0 1300.0 300.0 1816 2 402.0 402.0 3 20.0 180.0 50.0 250.0 4 20.0 26.7 46.7 277.0 277.0 139.6 139.6 826.67 3760.97 3. 1) 2) 3) 1-1-165
4) 20 / 5) 6) 4. 5. [2002]32 6. 50% 100% 2003 2004 7. 6400 1439 29.02% 4.56 10 1. 2001 251 2. 1-1-166
4,041.42 2,981.9 1,059.52 216.0 1280 290 1786 240.9 240.9 142.0 142.0 1059.52 4041.42 3. 1) 2) - Boehringer Mannheim 1995 1999 57 2.1 78.9% 2000 70 2005 10 100 3) 4) 20 / 5) 6) 1-1-167
4. 5. [2002]32 6. 50% 100% 2003 2004 7. 7500 1495 28.41% 4.67 1. 50 31.8699 100 2. 970 2003 3. 5 16.41 4. 5 5. 30 6. 20 7. 10 8. 12 20 4.6260 28 1-1-168
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6. 5 7. 20 8. 10 3138.5 1. 1. 12 20 2. 50 3. 4. 5 5. 5 6. 30 7. 20 8. 10 2. 1-1-171
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A 9 2001 2001 2001 / [ ] [ ] [ ] 1 ( ) 0.381 6500.23 8.23 21.95 142680.05 57.61 2.67 0.032 30381.00 2.91 7.60 230895.60 237.50 2.61 0.177 45731.28 2.93 8.40 384142.75 47.46 2.87 0.036 45006.00 1.33 7.64 343845.84 212.22 5.74 0.195 24960.00 3.06 9.58 239116.80 49.13 3.13 0.382 21256.00 3.50 10.21 217023.76 26.73 2.92 0.510 14900.89 4.76 14.43 215019.84 28.29 3.03 0.130 14879.30 1.60 9.00 133913.70 69.23 5.63 0.120 116939.42 2.09 5.39 630303.47 44.92 2.58 1 0.218 35617.12 3.38 10.47 281882.42 85.90 3.46 2 46.20 2001 1 2003 14 15 2 2001 2003 1 14 85.9 3.46 46.2 A 46.2 2002 A 23.37 3.71 EV/EBITDA EV/EBITDA 1-1-174
EV A EBITDA 1. EV/EBITDA 2001 2003 1 14 15 EV/EBITDA EBITDA EV EV/EBITDA 17332.93 3976.64 160012.98 40.24 187260.87 17449.07 418156.47 23.96 49592.53 16756.04 433735.28 25.89 95665.91 9818.76 439511.75 44.76 51474.50 10817.99 290591.30 26.86 36103.43 12669.10 253127.19 19.98 41939.39 12030.23 256959.23 21.36 11745.55 10363.89 145659.25 14.05 463414.66 55233.67 1093718.13 19.80 106058.86 16568.38 387941.29 26.32 2001 2. 2001 2002 EBITDA 2001 2002 ( ) 15,172 16,762 EBITDA( ) 6,265 8,299 3. EV/EBITDA EV/EBITDA 2001 2002 25.00 14.15 19.07 26.32 14.97 20.17 30.00 17.28 23.22 35.00 20.41 27.37 40.00 23.54 31.52 10,000 EV/EBITDA 26.32 A 14.97 / 20.17 / 1-1-175
1. EV/EBIDA 2. 15.55 / 2002 19.98 1 2 10% 3 5%4 5 25% 1-1-176
2001 2001 3,506.36 2002 4268.86 2003 2003 2003 50% 2002 12 31 64,749,226.88 2003 A 2001 1. 2002 12 31 2. 2003 2002 12 31 2003 1 1 1-1-177
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2002 12 31 500 2. 1) 2001 8 31 477.8 1737.28 2002 12 31 1250 3. 1052.97 970 2003 4. 2001 9 14 354 1) 2) 1-1-181
2% 3) 150 200 5 5. 1) ( ) 12 1998.8.30~ 2003.8.30 3 5 1998.8.30~ 2003.8.30 60 2000.2~ 2010.2 3-5 2000.2.28~ 2009.2.27 3-5 2000.2~ 2010.2 3-5 1-1-182
2000.2.18~ 2008.2.18 2001.3.1~20 10.3.1 2001.3.5~20 10.12.31 2001.8.1~20 11.12.31 0.5-1.0kg 2001.12.1~ 2010.12.30 2001.12.1~ 2010.12.30 2002.6.28~2 010.6.28 1330 2) 3 Oseltamivir Zanamivir 2001.8.5~2003.8.4 2001.7.20~200 3.7.20 1-1-183
Lisinopril 2002.9.20~201 2.9.20 Adefovir dipivoxil 2.9.20 2002.9.20~201 2002.9.20~201 Lopinavir 2.9.20 2002.9.20~201 Orlistat 2.9.20 6. 2002 12 31 2001 3000 2001.7.27~ 0247 2004.2.20 2002 500 2002.4.23~ 0133 2004.2.20 2002 1500 2002.4.23~ 0132 2004.2.20 3000 500 1500 5,000 5,000 2001 0009 3020 2001 0247 2001.7.17 2003.7.16 2002 0006 683 2001 66 1999.6.30 2004.6.30 2002 12 31 22,271,672.53 1-1-184
1,937,974.21 3,500 2002 0132 1500 2002 6 19 2004 2 20 7. 2002 12 30 ( ) ( ) 1,000 1 80 21 18 3 10 2003 1 3 2002 12 31 1278 8. 1) 2002 12 27 128,677,688.00 334,561.99 2002 12 28 2003 12 27 24 2) 2002 4 8 31,825.00 2002 4 10 2003 4 9 24 1. 5% 2002 12 31 5% 2. 1-1-185
2002 12 31 1-1-186
2003 1 16 1-1-187
2003 1 16 1-1-188
2003 1 16 1-1-189
2003 1 16 1-1-190
2001 004 2003 1 24 1-1-191
1. 1. 2. 3. 0576 5010288 0576 5016010 39 0755 82943666 0755 82943121 www.sse.com.cn 1-1-192