Just quick summary to bring this to your attention; more detail will hopefully follow.

This stock floated yesterday at 10p and has since doubled. It has, needless to say, suddenly become very popular on another BB.

The company is profitable already and trading on an estimated (by yours truly) forward PE for the current year of 9 at SP 20p. EDIT: Hoodless Brennan estimate EPS for Full Year 2006 will be 2.18p - see article (link below).

Free float is 11.4% of the 81.2 million shares in issue - most are held by the directors.







Extremely useful Investegate article LINK


Extremely useful Hoodless Brennan analysis LINK


PDYOR, etc.

this and FXPO of course! ;-) .. another one bubbling under the radar of the masses

get ready for breakout peeps

Hope your right, I just got in this morning at 22.5p. Good luck all.

Nice 55,000 trade gone through.

oilyrag it was pointed out on advfn that it's hard to buy in large volume when the price is going up, so a day like today is probably the best time to get in, when you can grab a few. Some posters were havng trouble buying more than 10000 when price is heading north..

Just bought, i really like the story here. Some knowledgeable posters reckon this could be worth 250p on EU approval and still 5 times the current price on China prospects alone. Hard to get hold of shares but they indeed are gold dust.

and then theres the planned expansion into the U.S within 3 years, as mentioned in AGM

FROM ADVFN...

2 peeps notes from AGM..


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130407 - 24 Jul'07 - 14:55 - 782 of 871


Main points received from my friend

2 shareholders turned up. one from Cambridge apparently.
R Tanner NED Chair/ M Wyllie CSO / Proffessor Ma (from PRC) / Translator/ Nomad & City PR

formal resolutions passed.

Plenty of questions from the Cambridge Shareholder.
My friend made copious notes of both the formal and informal meetings. Notes from both meetings below.

Q. Will there be a placing
A. No not at this time, the company needs to bed in and we have "alot of money in the Bank". We will only have a placing if we can deliver more. Delivery means expaniding into the EU / US and acquisitions. By that time we will have shown we can deliver alot more than what we did in the last results.

Q. What is the status of EU approval / timescales
A. The aperwork is due to go in imminently (next week or so) the EMEA has a maximum turnaround of 45 working days, so approval by 45 working days, altohugh that is worst case scenario. Should be alot sooner ddue to us having all the dossier of paperwork together and previously approvals of less purity than ours

Q. How do you expect to Ramp up
A. We will need a EU Sales Director and ramping up wil lbe in place, we have now gone into 1700 hospitals in PRC and 1000's of clinics and pharmacie and have both short and long terms supply contracts in place and the trees are sustainable and our first harvest is in.

Q. Short and Long term goals
A. Short term Paxlitacel in EU
then injectables (huge margin on these)
then US approvals and market penetration

(Informally ..Later found out that M Wyllie works on a three year timespan. he is expecting to not only break into US within 3 years but be a major player there)

Q. Is there a broker note due
A. broker note is due and they will be having interviews with press and journalists today tomorrow etc. Broker note out with interims which need to be out by sept at the very very latest. Imminent was the word they used.

Q. Can the active ingredients be produced synthetically.
A. Yes, but no one will do it due to time consuming nature, and the quantity produced is in the milligrammes. Definitely nothing to worry about here as the timespan is very very long and arduous and not cost effective.

Q. Why do you not have progress reports or updates.
A. We were in the middle of a Board meeting, which will continue after the AGM. They were discussing that in length. and view is that that will happen shortly , progress reports on progress to date along with possible Q & A on the website. Website to be totally redrafted and MW agreed it was crap.

Q.Chinese companies have bad reputations in terms of Drugs, what do u see urself as

A.We are a WESTERN PHARMA COMPANY based in the PRC BUT operating to WESTERN STANDARDS at all levels. Very improtant to realise we are accountable and transparent in everything we do. And report to western standards, not PRC standards.

Q. What is world demand for PAclitaxel
A.World demand for Paclitaxel is 700-1000kg. we want to move to the high margin end asap, and our business plan is based on getting there. we are at 99.7% purity, better than any other worldwide. We want to get to.more. Eg he gave was he wanted 100%, becos as an eg, 0.1% of arsenic can kill someone, so they want to be nothing left to chane on anything.

Q. the Board and yourself have only paid yourselves 14k, is this because you are incentivised

A. we have share options, and the price needs to be at multiples of this.The plan is in place for us to achieve huge growth annually as shown in the last results.

My friend asked MW/RT his view on the SP in one year and three years based on current growth and US breakthrough. The price wil lnot be put on the BB's as WHI monitor the boards, suffice to say i was happy on reporting of their potential.


q. Timescales for Injectables
A. expansion of sales force in EU and US, then look at how to do injectables, cost study analysis being done. whether to d oit themselves ou outsorce. But they want to get into injectables

some other info: -

it takes 22 taxus trees to treat one patients cancer for their lifetime
1 taxus tree equates to 1 single does of paclitaxel

The Board are very very professional, they are looking to fastracke every single thing, and looking to speed up processes, the people like RT and MW are top of their fields and looking to make TAIH huge.

Main thing that my friend noted that this was a Western Pharma co in PRC doing things to Western standards. that is a huge boon.

Alot of the private discussions would not be appropriate for a BB.
Hope this helps.


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0rb1t - 25 Jul'07 - 10:37 - 813 of 869


I made it yesterday to the AGM from Cambridge (5am start!). 130407, thanks to your friend for taking notes and making sure that I wasnt the only one asking questions!

I agree with what has been said except regarding the purity level of pactitaxel. Their emphasis was that they have a clinical purity level product far greater than some of the competition (I think the .1% arsenic was meant as a joke or to show that their extra purity level is important). Some more questions asked:

Q. What is the current price & demand for paclitaxel?

A. Very cagey on answering this. This was passed to the WH Ireland representative to answer. He stated that the increase in the price of paclitaxel (seen last year) had not reduced demand.

Comment: This is good news. So turnover and margins have at least been maintained.

Q. Have there been any supply issues in obtaining raw materials for paclitaxel?

A. Our supply agreements have ensured the raw materials required.

Q. In the prelims it was stated that 250,000 trees are required for current demand, how much does this equate to in the finished product?

A. Explanation was given about how the trees are grown to 5 feet and then chopped down to 3 feet and then allowed to grow again. MW then confirmed that 250,000 trees was equivalent to 50kg. He also stated that the plan was source 70-75% of raw materials inhouse.

Comment: Subcontracting seems prudent as this reduces fixed overheads and allows for demand fluctuations.

Q. Currently you have capacity to produce 50kg of paclitaxel. When do you expect to reach full capacity and do you have any plans for increasing capacity further?

A. (Market sensitive question). MW said that they would be looking for 50-75kg when selling to the European market and then higher if they break into US (US has 40% share of global market).

Comment: This is the first mention I have heard of 75kg. Current facilities (50kg) and supply contracts could reach this target.

Q. Are sales to South Korea meeting expectations after the licence has been awarded?

A. The initial contract has been supplied (Market sensitive question answered by WH Ireland).

Q. Isnt the Traditional Chinese Medicines a fragmented market and would this provide opportunity for acquiring other companies?

A. It is but they are concentrating on selecting fewer medicines that they can sell more of. All new medicines would be cost-justified. Want to concentrate on fewer higher demand products that would have a bigger market. (It sounded like they were going to be reassessing the new TCMs that they have recently applied for)

Q. Is there a market leader in supplying APIs and TCMs?

A. No significant supplier. Different companies may sell more TCMs but less APIs. (WH Ireland)

Q. Has the dispute with the constructor of the Xian office been resolved and what is the purpose of the new building?

A. The shell of the building has now been completed. Work is being performed on the interior. We are expecting it to be ready in October. No extra fees have been paid to the contractor. (the only question answered by the Chinese)
MW added that the current facilities were cramp and that it would house the staff necessary to administer the expanding business. A picture of the building is on page 8 of the annual report.

Comment: The new building looks quite impressive from the outside and is suitable for the image expected from a Western run company.

Other notes:

The 1700 hospitals referred to by the WHIreland rep is a lot higher than the 302 hospitals stated in the prelims. He confirmed this twice stating as mentioned in the finals. This could be a mistake or perhaps hes preparing the next broker statement!

Homoharringtonine has been approved in the US market but not in Europe yet.

TAIH expectation for global demand for 2007 was in the range of 700-1000kg. This provides more upside than the 700kg only mentioned in the admission document.

well it has to be one of the finds of the year for me. Have a good friend who works for a broking house linked closely to the company, he couldn't talk these up enough Tues night after the agm in Manchester. they were talking of 300p no joking.

kate bates
That would give it an M/Cap of 216m ???????

find that hard as there were only 2 shareholders present at AGM and both of them have posted their notes on the advfn thread LOL..

Ive just posted them here

a good market day and we could have had around 27-28p. We'll wait though.

ahhh, she's off again.

certainly a pretty stellar performance, but i suspect very low cap (can't be bothered to go to stock exchange page to check) and very much fringe stock in all respects ...... not for me, but good luck to anyone who is brave enough

cant be bothered to check but can be bothered to post meaningless drivel

says it all really your name dont it

well if you are such a smartarse why did you not post the info?
for those want to know, cap is a bare 15m with NMS of only 3000 shares, which indicates very restricted liquidity.

perhaps smartarse would now like to check who has major shareholdings and post accordingly

employees and directors hold 85% of the company as incentives as the entire board only pay themselves a total 14000 pounds! 15% free float does mean restricted liquidity hence the sp dramatic rise when everyone wants a piece of the action. Having said that I had originally 35000 and no problem selling but now back in again and could only get 12000---you have to buy in small batches.

thanks for clarifying M+ ....... a brave stock to buy and am surprised that authorities allow just 15% free float ...... of course, just as the rise can be dramatic, any pressure and the fall is likely to be truly melodramatic

should do some research, they've pots of cash pe is barely 10 and they are about to release a product worldwide. If this doesn't multibag i'll eat my knickers.

now that i would like to see... lol