China Medical vice president tops up

Company News

LONDON (SHARECAST) – China Medical Systems executive vice president Chen Hongbin spent 33,000 on shares in the company on June 18, the pharmaceutical company announced today.

He bought 30,000 shares at 110p a time and now has around 2.06m shares, which is about 4.35% of the company. The purchase came after he bought 20,000 shares at the same price the previous day.

The share price has rallied since May, when Chen bought 7,500 shares at 95p each. The companys shares were trading at around 150p at the beginning of the year.

China Medical, whose drugs include an injection to treat patients who have overdosed on opium, reported record sales of $51.7m in 2007. Pre-tax profits rose to $10.3m from $5.4m the previous year.