Star Pharmaceutical warns of loss

There was a substantial write-off of an intangible asset.

The Board of Directors of Star Pharmaceutical Limited announced that following Management’s preliminary review of the unaudited consolidated financial results of the company and its subsidiaries, the Group is expected to report a loss for 4Q FY2012 and the financial year ended 31 December 2012.

An announcement said the Group’s financial results were adversely affected by a substantial write-off of an intangible asset of Category I Chinese Medicine Drug, Yanning Capsules, and allowance for impairment of deposit due to termination contract of R&D patent right acquisition.

Star Pharmaceutical will announce its unaudited financial results on or before 1 March 2013.