HARBIN, China, April 23 /PRNewswire-Asia-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"), today announced that it obtained approvals from the State Food and Drug Administration (SFDA) in China for the production of Geranium ointment and Musk liniment for pain relief.
Geranium ointment is used to cure chronic eczema, carbuncle, furuncle and small scalds. Musk liniment is used to relieve the pain from scathe, wound, rheumatism and arthrosis. It can be used to treat skin sores and blood clots. There are only one or two competitors supplying these products to the market. Management expects that the two new products will have a large market potential since many patients in China are suffering from these diseases, especially in rural areas. The Company estimates that the two products combined will contribute $0.8 million to revenues in 2009 and potentially much more in 2010.
"We are very pleased to receive SFDA approvals for these two drugs in a timely manner, which we believe will benefit an increasing number of patients in China as a result of the new health care system reforms," said Mr. Yan-Qing Liu, Chairman and CEO of China Sky One Medical. "We remain confident in our ability to identify drugs that have strong market potential that will enhance our overall portfolio."
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 ("TDR"), Harbin First Bio-Engineering Company Limited ("First"), Heilongjiang Tianlong Pharmaceutical, Inc. ("Tianlong") and Peng Lai Jin Chuang Pharmaceutical Company ("Jin Chuang") 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 the progress of new product development. 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 more information, please contact: Company Contact: China Sky One Medical, Inc. Mr. Yu-Bo Hao, CFO Tel: +86-451-5399-4069 Email: email@example.com Investor Relations Contact: CCG Investor Relations Mr. Crocker Coulson, President Tel: +1-646-213-1915 Email: firstname.lastname@example.org Web: http://www.ccgirasia.com
|SOURCE China Sky One Medical, Inc.|
Copyright©2009 PR Newswire.
All rights reserved