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Sinobiopharma Reports Highlights of Third Quarter Results for Its Operating Subsidiary, Dong Ying China
Date:12/10/2008

Revenue increases by 182 percent over Q3 2007

Gross margin increases by 540 percent

NANTONG CITY, China, Dec. 10 /PRNewswire-FirstCall/ -- Sinobiopharma, Inc. (OTC Bulletin Board: SNBP)("Sinobiopharma", or the "Company") is pleased to report the unaudited financial highlight results for the third quarter ended September 30, 2008 for Sinobiopharma's operating subsidiary, Dong Ying (Jiangsu) Pharmaceutical Co., Ltd. ("Dong Ying China").

Financial highlights include:

  • Total revenue increased to RMB 6.4 million (US $937,600) for Q3 2008, a 182 percent increase over Q3 2007.
  • Gross margin was RMB 4.1 million (US $600,800) for Q3 2008, a 540 percent increase over Q3 2007.

The complete unaudited financial results of Dong Ying China will be consolidated into Sinobiopharma's financial statements for the six month period ended November 30, 2008, which are expected to be filed on or before January 14, 2009.

Mr. Lequn Huang, President and CEO of Sinobiopharma, commented: "Sinobiopharma's operating subsidiary achieved significant Q3 year-over-year growth in both sales and gross margin. In Q4 2008 and Q1 2009, we intend to continue to focus on building our portfolio of innovative and first-to-market drugs through organic growth and acquisitions. We also plan to enhance our investment in sales and marketing activities to help Sinobiopharma achieve sustainable, long-term growth."

About Sinobiopharma

Sinobiopharma, Inc. is a fully integrated and highly innovative biotechnology company engaged in the research and development, manufacture and marketing of biopharmaceutical products in China, the world's fastest growing pharmaceutical market. Known as Dong Ying (Jiangsu) Pharmaceutical Co., Ltd. in China, the Company's current therapeutic focus is on anes
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SOURCE Sinobiopharma, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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