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China Sky One Medical, Inc. Announces Record Third Quarter 2008 Results
Date:11/10/2008

ling Sumei Slim Patch, continued trending up in the third quarter, accounting for 27% of revenues. Sales of products from newly acquired Heilongjiang Tianlong Pharmaceutical, Inc. made up 18% of revenues. That was followed by sales of ointments, which made up 13% of revenues in the quarter, and sales of plaster products such as our Pain Relief Patch, which made up 11% of revenues. Our top-selling branded products in the third quarter were our Sumei Slim Patch, and our Compound Camphor Ointment."

"Our continued strong sales momentum during the quarter coincided with a number of significant accomplishments, including the listing of our common shares on the NASDAQ Global Market under the symbol "CSKI," said Mr. Yan-Qing Liu. "Also, we completed the acquisition of Peng Lai Jin Chuang Company, a newly established pharmaceutical company with Good Manufacturing Practice Certification (GMP) approval issued by the country's State Food and Drug Administration (SFDA), and entered into a distribution agreement with Harbin Baolong Pharmaceutical Company for our prescription drugs," he added.

During the quarter, the China Sky One Medical developed 37 new drugs that are currently in clinical trials, including twelve administered by injection. The Company also developed a propyl gallate injection for the treatment of acute cerebral infarction, coronary heart disease, thrombosis, dysmenorrheal and nephropathy; and a nasal spray for the treatment and prevention of rheumatic disease, which it expects to launch in the fourth quarter of 2008.

On September 5, 2008, the Company completed the acquisition of Peng Lai Jin Chuang Company ("Jin Chuang"), a newly established pharmaceutical company, for approximately $7.1 million, consisting of about $2.5 million in cash and $4.6 million of China Sky One Medical's common stock (381,606 shares). The Jin Chuang acquisition includes rights to a portfolio of 20 approved drugs that are taken orally, an important addition to the C
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SOURCE China Sky One Medical, Inc.
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