HARBIN, China, Feb. 24 /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 its 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.
Naftopidil Dispersible tablets are used to treat benign enlargement of the prostate in middle aged men. Buchang has a strong national sales network for medicines that treat prostate diseases and Jin Chuang selected Buchang as its exclusive sales agent for Naftopidil Dispersible tablets after careful consideration and review. Jin Chuang will monitor and appraise Buchang's sales performance annually and maintains the right to terminate the distribution agreement if Buchang does not meet its expected sales target. Jin Chuang received SFDA approval to produce and distribute Naftopidil Dispersible tablets in 2005.
"We look forward to a successful collaboration with Buchang on the sale of Naftopidil Dispersible tablets," said Mr. Yan-Qing Liu, Chairman and CEO of China Sky One Medical. "Naftopidil Dispersible tablets have huge market potential and Buchang has a strong sales network for drugs that treat prostate diseases, which makes this a mutually beneficial agreement. As part of our growth strategy, we will continue to seek out favorable collaborative agreements in R&D, production and sales to further grow the business."
About China Sky One Medical, Inc.
China Sky One Medical, Inc., a Nevada corporation, is a holding
|SOURCE China Sky One Medical, Inc.|
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