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Sinobiopharma Updates on Progress; Projects Increases in Sales and Revenues In 2009
Date:5/20/2009

NANTONG CITY, China, May 20 /PRNewswire-FirstCall/ -- Sinobiopharma, Inc. (OTC Bulletin Board: SNBP) ("Sinobiopharma" or, the "Company") is pleased to provide an update on the Company's progress to date this year and guidance on its projected financial performance for the balance of 2009.

Financial Highlights:

  • In Q1 2009, the Company's total revenue increased to RMB 4.60 million (US $0.68 million), representing a 127 percent increase year-over-year from the same period in 2008, when total sales were RMB 2.0 million (US $.29 million).
  • Also in Q1, the Company signed sales contracts for a total 1.5 millions units for Cisatracurium Besylate, Sinobiopharma's flagship drug, with business agents who distribute the Company's products in 30 provinces and key major cities throughout China. Total turnover is projected to be more than RMB 105 million (US $15.3 million), of which 70 percent will be Sinobiopharma profit.

Sales, Production and Marketing Highlights:

  • Sales of Cisatracurium Besylate increased by more than 200 percent from 2007 to 2008. Sales of 1.5 million units are projected in 2009. Sinobiopharma's patented formulation of Cisatracurium Besylate is now China's top-selling pre-surgical skeletal muscle relaxant.
  • Sales of Clindamycin, an antibiotic, increased by 150 percent from 2007 to 2008. Sales of 1 million units are projected in 2009.
  • The Company is currently in the process of launching in the domestic Chinese market. Sinobiopharma's formulation of this antihypertensive is the world's first in capsule form, making it easier to swallow. Sales of more than 500,000 capsules are projected in 2009. As the first Chinese maker of the latest generation of this drug, the Company's has multiple competitive advantages, including lower cost of active pharmaceutical ingredients (API), the ca
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SOURCE Sinobiopharma, Inc.
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