In February, the Company's wholly-owned subsidiary, Peng Lai Jin Chuang Pharmaceutical Company ("Jin Chuang"), signed an exclusive distribution agreement with Shaanxi Buchang Group ("Buchang") for naftopidil dispersible tablets with an expected sales target of 100 million RMB (US $14.6 million) over five years. Jin Chuang received SFDA approval to produce and distribute naftopidil dispersible tablets, which are used to treat benign enlargement of the prostate, in 2005. Also in February, the Company announced that it had expanded the sale of its best-selling Slim Patch into South Korea and Sudan after engaging PAX-Medicare and Lai Li Investment Company as exclusive sales agents. The product is now available in 26 countries and regions.
In March, the Company announced that it received SFDA approval to manufacture two new drugs, Calcium Folinate injection, intended as an auxiliary therapy for sprue, (a disease of the small intestine), infancy- related megaloblastic anemia, and colonic and rectal cancer; and Policresulen vaginal suppositories indicated for the treatment of cervical erosion, cervicitis, and various vaginal inflammations.
"We are confident about the prospects for our business in 2009 and will continue to focus on increasing market share by both strengthening and further refining our successful sales and distribution network, building and enhancing our brand image, and making strategic acquisitions that continue to support our growth," said Mr. Yan-Qing Liu, Chairman and CEO of China Sky One Medical, Inc.
"In 2009, we expect full year revenue to increase by 40%, or approximately
$37.0 million, to $128-$130 million, driven by growth in all of our product
sales categories. We expect th
|SOURCE China Sky One Medical, Inc.|
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