China Pharma Holdings reported that its second-quarter net income was $5.1 million, or $0.12 per share, down from $6.1 million, or $0.14 per share, in the second quarter of 2010. Excluding the effect of change in fair value of derivative warrant liability, adjusted non-GAAP net income in the second quarter of 2011 was $4.8 million, or $0.11 per share, compared to $5.3 million, or $0.12 per share, in the second quarter of 2010.