Under the cooperation agreement between the two companies, China Sky One Medical will be Golden Biotechnology Corporation's exclusive partner in the new drug application process and the exclusive sales agent in Mainland China. The two parties also signed a letter of intent to jointly develop new drugs and globally expand their sale.
The management expects to receive SFDA approval within three years as the medicinal theoretical research has been completed already. The expenditure for new drug application including clinical study will be around $10 million.
"We are excited to participate in this project, which we believe has a very bright future, especially since it is rare to find a compound that can fight cancer without any side effects," said Mr. Yan-Qing Liu, Chairman and CEO of China Sky One Medical. "We believe China Sky One will experience very strong growth once this project is successful."
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 .
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|SOURCE China Sky One Medical, Inc.|
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