Navigation Links
China Sky One Medical, Inc. Starts Production at Newly Acquired Facility and Reaffirms Guidance
Date:10/14/2008

HARBIN, China, Oct. 14 /Xinhua-PRNewswire-FirstCall/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (NASDAQ: CSKI), a leading fully integrated pharmaceutical company producing over-the-counter drugs in the People's Republic of China ("PRC"), announced today that it started production at Peng Lai Jin Chuang Company ("Jin Chuang"), a pharmaceutical company that it acquired, on October 14, 2008.

Jin Chuang, a subsidiary of China Sky One Medical, develops, manufactures, and distributes pharmaceutical, medicinal and diagnostic products in China. It owns rights to develop and market a portfolio of twenty drugs approved by State Food and Drug Administration (SFDA) of the PRC for the treatment of colds, cardiovascular disease, and depression. Jin Chuang's products include Chinese health remedies such as Oyster Shell Calcium Tablets for the treatment of osteoporosis, and Naftoipidil Dispersible Tablets for the treatment of benign prostatic hyperplasia. China Sky One Medical completed the acquisition of Jin Chuang on September 5, 2008, for approximately $7.1 million, consisting of cash and stock. Production at Jin Chuang is moving smoothly and according to the Company's schedule.

"We are pleased to have started production at Jin Chuang, which will allow us to enhance our product line and increase our manufacturing capabilities and profitability," said Mr. Yan-qing Liu, Chairman, CEO and President of China Sky One Medical. "We expect Jin Chuang to contribute $3-$5 million to sales in fiscal 2008, and approximately $0.95-$1.55 million in net profit for the year. We believe the acquisition will increase our financial performance even further in 2009 as we scale up our production. As a result of Jin Chuang's contribution, we are reaffirming our previous full year 2008 guidance, which was provided on September 25, 2008."

About China Sky One Medical, Inc.

China Sky One Medical, Inc., a Nevada corporation, is a holding company. The Company engages in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic products. Through its wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company, Harbin First Bio- Engineering Company Limited, and Heilongjiang Tianlong Pharmaceutical, Inc., the Company manufactures and distributes over-the- counter pharmaceutical products, which make up its major revenue source. For more information, visit http://www.skyonemedical.com .

Safe Harbor Statement

Certain of the statements made in the press release constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward- looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.

For further information, please contact:

China Sky One Medical, Inc.

Mr. Yu-bo Hao

Board Secretary

Tel: +86-0451-5399-4069

Email: china_sky_one@yahoo.cn

Investor Relations Contact:

Mr. Crocker Coulson

President

CCG Investor Relations

Tel: +1-646-213-1915


'/>"/>
SOURCE China Sky One Medical, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. China Medicine to Showcase Bethin Weight Loss Product at 2008 Natural Products Expo East Trade Show
2. China Yingxia International, Inc. Announces $2 Million Share Repurchase Program
3. China Biologic Products Enters Into Agreement to Acquire 90% Controlling Interest in Chongqing Dalin Biologic Technologies Co., Ltd.
4. WuXi PharmaTech (NYSE:WX) Maintains Original Strategy to Provide Toxicology Services in China
5. Covance Decides to Pursue Its Original Preclinical Strategy in China
6. China Sky One Medical, Inc. Raises Guidance for 2008 Revenue and Net Income
7. China-Biotics, Inc. Announces Results of 2008 Annual General Meeting of Shareholders
8. tootoo.com: Chinas Farmers Welcome the New Trend of Organic Farming
9. China Sky One Medical, Inc. Passes First Phase Examination for (CE) Certification
10. China Pharma Holdings, Inc. Projects 3rd Quarter 2008 Revenue Growth to Exceed 40%
11. China Biologic Receives SFDA Approval for Clinical Trial of Human Coagulation Factor VIII
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... ... May 26, 2016 , ... Kinder Scientific (KinderScientific.com), a leading ... position the Company for the future. Kinder Scientific announces restructured ownership and ... been appointed Chairman of the Board, Curtis D. Kinghorn has been appointed CEO/President ...
(Date:5/25/2016)... ... May 25, 2016 , ... Founder of the Fitzmaurice ... surgery and surgery of the hand by the National Board of Physicians and ... above and beyond in his pursuit of providing the most comprehensive, effective treatment ...
(Date:5/25/2016)... ... May 25, 2016 , ... Biohaven Pharmaceutical Holding Company ... granted the company’s orphan drug designation request covering BHV-4157 for the treatment of ... the FDA. , Spinocerebellar ataxia is a rare, debilitating neurodegenerative disorder that ...
(Date:5/23/2016)... (PRWEB) , ... May 23, 2016 , ... The need for blood donations in South ... week by the South Texas Blood & Tissue Center, blood donations are on the decline. ... years, and they are down 21 percent in South Texas in the last four years ...
Breaking Biology Technology:
(Date:3/29/2016)... 2016 LegacyXChange, Inc. (OTC: ... SelectaDNA/CSI Protect are pleased to announce our successful effort ... variety of writing instruments, ensuring athletes signatures against counterfeiting ... from athletes on LegacyXChange will be assured of ongoing ... Bill Bollander , CEO states, "By ...
(Date:3/21/2016)... Unique technology combines v ... security   Xura, Inc. ... digital communications services, today announced it is working alongside ... customers, particularly those in the Financial Services Sector, the ... within a mobile app, alongside, and in combination with, ...
(Date:3/15/2016)... Yissum Research Development Company of the Hebrew University ... University, announced today the formation of Neteera Technologies ... biological indicators. Neteera Technologies has completed its first round ... Neteera,s ... from sweat ducts, enables reliable and speedy biometric identification, ...
Breaking Biology News(10 mins):