HARBIN, China, Oct. 30 /Xinhua-PRNewswire-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"), announced today that it recently obtained production approval from the State Food and Drug Administration (SFDA) in China for two of its newly developed drugs.
Sodium ferulate by injection is intended for the treatment of cardiovascular disease. It works by inhibiting the gathering of hematoblasts and stretches blood vessels in order to protect cardiac muscles. Doxofylline by injection is intended for the treatment of asthma and bronchitis. It works on bronchia and relaxes bronchial smooth muscle in order to restrain asthma.
"We are very excited about our two new drugs and estimate that revenue from sodium ferulate will reach USD $1 million, and revenue from doxofylline will reach USD $500,000 once production starts in the beginning of 2009," said Mr. Yan-Qing Liu, Chairman, CEO and President of China Sky One Medical. "We are confident that our advanced R&D capabilities will continue to help us expand our market share."
About China Sky One Medical, Inc.
China Sky One Medical, Inc., a Nevada corporation, is a holding company. The Company engages in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic products. Through its wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company ("TDR") and Harbin First Bio- Engineering Company Limited ("First"), the Company manufactures and distributes over-the-counter pharmaceutical products, which make up its major revenue source. For more information, visit http://www.skyonemedical.com .
Safe Harbor Statement
Certain of the statements made in the press release constitute forward-
looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements can be identified by the use of
forward- looking terminology such as "believe," "expect," "may," "will,"
"should," "project," "plan," "seek," "intend," or "anticipate" or the
negative thereof or comparable terminology. Such statements typically
involve risks and uncertainties and may include financial projections or
information regarding our future plans, objectives or performance. Actual
results could differ materially from the expectations reflected in such
forward-looking statements as a result of a variety of factors, including
the risks associated with the effect of changing economic conditions in The
People's Republic of China, variations in cash flow, reliance on
collaborative retail partners and on new product development, variations in
new product development, risks associated with rapid technological change,
and the potential of introduced or undetected flaws and defects in
products, and other risk factors detailed in reports filed with the
Securities and Exchange Commission from time to time.
For further information, please contact:
China Sky One Medical, Inc.
Mr. Yu-Bo Hao
Investor Relations Contact:
CCG Investor Relations
Mr. Crocker Coulson
|SOURCE About China Sky One Medical, Inc.|
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