CHENGDU, China, Sept. 16 /PRNewswire-Asia-FirstCall/ -- Tianyin Pharmaceutical Co., Inc., (NYSE AMEX: TPI), a manufacturer and supplier of modernized traditional Chinese medicines ("TCM") today announced that its new production facility obtained the Good Manufacturing Practices Certificate for pharmaceutical products ("GMP Certificate") from the State Food and Drug Administration ("SFDA") in China.
According to the National Medicine Administration Law of the People's Republic of China, all new pharmaceutical manufacturing facilities must pass an examination to obtain their GMP Certificates. In June 2009, the examination committee visited Tianyin Pharmaceuticals and conducted a review of management practices of its new production facility, including quality control of raw materials, manufacturing processes, and the inspection and acceptance of its finished products. Tianyin's new production facility for solid dosage drugs met all GMP standards.
"We are very pleased with the SFDA's decision to grant us the GMP certification, which is the result of hard work and dedication from our entire team," Dr. Jiang, Chairman and CEO of Tianyin Pharmaceutical Co., Inc., commented. "This certification is the final step to commencing production at our new facility and effectively tripling the capacity of our solid dosage medicines, such as Azithromycin Dispersible Tablets, Mycophenolate Mofetil Capsules, Dantong Capsules and other recently approved medicines in our portfolio. This will enable us to meet our projected 40% revenue growth for fiscal 2010 while providing the capacity to accommodate up to $100 million in annual revenues as we look toward the future."
About Tianyin Pharmaceuticals
Tianyin is a manufacturer and supplier of modernized Traditional Chinese Medicine ("TCM") in China. It was established in 1994 and acquired by the current management team in August 2003. It has a comprehensive product portfolio of 39 products, 22 of which are listed in the highly selective National Medicine Catalog of the National Medical Insurance program. Tianyin owns and operates two GMP manufacturing facilities and an R&D platform supported by leading Chinese academic institutions. The Company has a pipeline of 40 pharmaceutical products pending approval. Tianyin has an extensive nationwide distribution network throughout China with a sales force of 720 salespeople. Tianyin is headquartered in Chengdu, Sichuan Province with two manufacturing facilities and a total of 1,365 employees. Tianyin achieved revenue of approximately $33.5 million and net income of approximately $6 million in FY2008 ending June 30, 2008. For more information about Tianyin, please visit http://www.tianyinpharma.com .
Safe Harbor Statement
The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
For more information, please contact: For the Company: Allen Tang, Ph.D., MBA, Assistant to the CEO China Tel: +86-158-2122-5642 Email: Allen.firstname.lastname@example.org Investors: Mr. Matthew Hayden, HC International Tel: +1-561-245-5155 Email: email@example.com
|SOURCE Tianyin Pharmaceutical Co., Inc.|
Copyright©2009 PR Newswire.
All rights reserved