Business Development & Outlook -- On October 29, 2009, Tianyin announced the Sichuan Jiangchuan Pharmaceutical Co., Ltd. ("Jiangchuan") joint venture, which will focus on production of macrolide antibiotics, such as Azithromycin, one of the world's best-selling antibiotics. Jiangchuan holds a license from Chinese State Food and Drug Administration (SFDA) to produce macrolide antibiotics and a related business license from the Industry and Commerce Bureau and Tax department. Tianyin owns 77% of Jiangchuan and will utilize this as the foundation for a broader, longer term strategy to build a significant presence in the rapidly growing Chinese macrolide antibiotics market, while diversifying its revenue base of western pharmaceuticals. Construction on a new production facility in Xinjin Industry Development Area commenced January 8, 2010, with Phase I expected to operational by July, 2010 and Phase II to be operational by the second half of 2010, with total anticipated capital expenditures of $20 million. The Company anticipates significant revenue and earnings contributions from this initiative during fiscal 2011. -- On December 1, 2009, Tianyin received SFDA approvals to produce two generic products, including a Pediatric Fever and Cough Oral Liquid and an Antibacterial/Anti-inflammatory Capsule. The Pediatric Fever and Cough Oral Liquid is a generic prescription TCM that is used for respiratory tract infections and influenza in children to ef
|SOURCE Tianyin Pharmaceutical Co., Inc.|
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