HANGZHOU, China, Dec. 26 /PRNewswire/ -- China Biopharma, Inc. (OTC Bulletin Board: CHBO) issued corporate information updates today.
The Company had significant operational improvement after the start of corporate operational restructuring last year. For the nine months ended September 30, 2008, it has made approximately $5.4 million in sales, more than thirteen times the sales revenue made in the same period of 2007, which was approximately $0.4 million. It also made approximately $90,000 in net profit from the China operation, comparing to a net loss of approximately $0.35 million in the same period of 2007. The Company believes that the current operation will further improve as it finalizes the operational restructuring.
The Company has signed an agreement with Zhejiang Tianyuan Biopharma Co., Ltd. that the Company will increase its stakes from currently 65% to 100% in the joint venture, Zhejiang Tianyuan Biotech Co., Ltd. ("ZTBC"). ZTBC will become a wholly owned subsidiary of the Company, and will change its name to Zhejiang Kangchen Biotech Co., Ltd. It is waiting for the new business license.
The Company has signed an agreement to acquire 90% of Beijing Tiancheng Xinhai Pharmaceutical Co., Ltd. ("BTXP"), a regional pharmaceutical distribution company. The company now has full operating control in BTXP and is waiting for final governmental approval and new business license.
After completion of recent operational restructuring, the company is looking for future merge and acquisitions. The Company is projecting a 25% sales increase in 2009.
About China Biopharma, Inc.
China Biopharma, Inc. is a pharmaceutical company based in China. Through its operating subsidiaries, the company introduces and distributes biopharmaceutical and pharmaceutical products throughout the world's most populated country, China. Products include biopharmaceutical and other pharmaceutical drugs. Leveraging its local presence and the relationship with local Chinese pharmaceutical companies and international pharmaceutical companies, China Biopharma is building a highly-competitive platform for growth in China as well as in new world markets, including the U.S. and Europe. For more information, visit its website at HYPERLINK "http://www.chinabiopharma.net/"http://www.chinabiopharma.net.
Safe Harbor Statement
Some of the statements here discuss future events and developments, including the Company's future business strategy and its ability to generate revenue, income and cash flow, and should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These "forward-looking" statements can generally be identified by words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," and similar expressions. These statements involve a high degree of risk and uncertainty that exists in the Company's operations and business environment and are subject to change based on various factors that could cause actual Company results, performance, plans, goals and objectives to differ materially from those contemplated or implied in these forward-looking statements. Actual results may be different from anticipated results for a number of reasons, including the Company's new and uncertain business model, uncertainty regarding acceptance of the Company's products and services and the Company's limited operating history.
CONTACT: China Biopharma, Inc. Tel: +1 (609) 651-8588 email@example.com http://www.chinabiopharma.net
|SOURCE China Biopharma, Inc.|
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