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:
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."
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 anesthesia-assisted agents and cardiovascular drugs.
FORWARD LOOKING STATEMENTS
This news release may include "forward-looking statements" regarding Sinobiopharma, Inc., and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Sinobiopharma, Inc. expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Sinobiopharma, Inc. does not undertake any obligation to update any forward looking statement, except as required under applicable law.
|SOURCE Sinobiopharma, Inc.|
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