Navigation Links
Tianyin Pharmaceutical Co., Inc. Begins Initial Share Buyback under its Repurchase Program
Date:1/30/2009

CHENGDU, China, Jan. 30 /PRNewswire-Asia-FirstCall/ -- Tianyin Pharmaceutical, Co., Inc. (NYSE Alternext: TPI), a manufacturer and supplier of modernized traditional Chinese medicine ("TCM") based in Chengdu, China, today announced that the Company has begun the initial purchase of shares under its previously announced stock repurchase program. These shares will be retired to the treasury while reducing the number of outstanding shares of its common stock.

On October 27, 2008, the Board of Directors authorized the Company to repurchase up to $3.0 million of its common stock from time to time in the open-market or through privately negotiated transactions. The Company's original announcement stated that the buyback would be conducted through January 2009, but it shall be conducted through June 30, 2009. The Company reported $12.4 million in net cash and equivalents on September 30, 2008 and was cash flow positive. Management believes the Company is adequately funded to meet all of the working capital and capital expenditure plans for 2009. Additionally, the Company believes that the Pharmaceutical Industry will be a beneficiary of expanded social reform with the recently announced government stimulus plan.

As of December 31, 2008, the Company has approximately 15.7 million shares of common stock outstanding and approximately 1,031,322 million shares are in the public float as of today.

"The initial share buyback illustrate our confidence in the long-term growth of the company and our commitment to our shareholders," said Guoqing Jiang, Chairman and Chief Executive Officer, "I am pleased to announce that we have made significant progress toward our new production facility which is expected to commence production in the Spring. We recently completed installation of steel framework and roofing of the new building, while laying the floors. The civil construction is expected to be completed around Chinese New Year and we will begin decoration afterwards. The new plant will expand our overall production capacity by 3 times and will be utilized to meet growing demand for our current products, while accommodating new product launches from our development pipeline to also drive future revenue growth."

About Tianyin Pharmaceuticals

Tianyin is a manufacturer and supplier of modernized Traditional Chinese Medicine ("TCM") in China. It was established in 1994 and acquired by the current management team in August 2003. It has a comprehensive product portfolio of 33 modernized TCMs and 5 generic western medicines in the market, 22 of which are listed in the highly selective National Medicine Catalog of the National Medical Insurance Program. Tianyin owns and operates two GMP manufacturing facilities and an R&D platform supported by leading Chinese academic institutions. The Company has a pipeline of 47 pharmaceutical products pending approval. Tianyin has an extensive nationwide distribution network throughout China with a sales force of 720 salespeople. Tianyin is headquartered in Chengdu, Sichuan Province with two manufacturing facilities and a total of 1,365 employees. Tianyin achieved revenue of approximately $33.5 million and net income of approximately $6 million in FY2008 ending June 30, 2008. For more information about Tianyin, please visit http://www.tianyinpharma.com .

Safe Harbor Statement

The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.

    For more information, please contact:

    For the Company:
     Allen Tang, Ph.D., MBA, Assistant to the CEO
     China
     Tel:   +86-158-2122-5642
     Email: Allen.y.tang@gmail.com

    Investors:
     HC International, Inc.
     Matthew Hayden
     US
     Tel:   +1-561-245-5155
     Email: Matt.Hayden@hcinternational.net

'/>"/>
SOURCE Tianyin Pharmaceutical, Co., Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Tianyin Pharmaceutical Co., Inc. to Host Fiscal Year 2009 First Quarter Earnings Conference Call on Tuesday, November 11, 2008 at 8:30 a.m. EST
2. Tianyin Pharmaceutical Co., Inc. Authorizes $3.0 Million Stock Repurchase Program
3. Tianyin Pharmaceutical Co., Inc. Receives Chinese SFDA Approval for Laonian Kechuan Tablets
4. Tianyin Pharmaceutical Co., Inc. Announces Trading Symbol Error and Correction
5. Tianyin Pharmaceutical Co., Inc. Receives Chinese SFDA Approval for Simvastatin Tablets
6. Tianyin Pharmaceutical Co., Inc. Completes Production for Earthquake
7. Tianyin Pharmaceutical Signs Over 60 New Distribution Agreements with 15 Regional Distributors
8. Tianyin Pharmaceutical Co., Inc. Announces Third Quarter 2008 Financial Results
9. Tianyin Pharmaceutical Co., Inc. to Host Fiscal Year 2008 Third Quarter Earnings Conference Call on Thursday, May 15, 2008 at 9:00 a.m. EDT
10. Tianyin Pharmaceutical to Present at Roth Third Annual China Discovery Tour in Beijing on May 20, 2008 at 12:40 p.m. Beijing Time
11. Viscorp, Inc. Announces Name Change to Tianyin Pharmaceutical Co Inc. and Begins Trading Under the Ticker OTC BB: TYNP
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... , ... As a lifelong Southern Californian, Dr. Omkar Marathe earned his Bachelors ... Geffen School of Medicine at UCLA. He trained in Internal Medicine at Scripps Green ... hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had the opportunity to train ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits of ... of the latter, setting the bar too high can result in disappointment, perhaps even ... progress toward their goal. , Research from PsychTests.com reveals that behind ...
(Date:6/24/2016)... ... June 24, 2016 , ... June 19, 2016 is World Sickle Cell Observance ... and the benefits of holistic treatments, Serenity Recovery Center of Marne, Michigan, ... Disease. , Sickle Cell Disease (SCD) is a disorder of the red blood cells, ...
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced ... attorneys chosen by their peers for this recognition are considered among the top 2 ... received special honors as members of this year’s Legal Elite Hall of Fame: ...
(Date:6/24/2016)... ... ... Topical BioMedics, Inc, makers of Topricin and MyPainAway Pain Relief Products, join The ‘Business for ... $12 an hour by 2020 and then adjusting it yearly to increase at the same ... wage, assure the wage floor does not erode again, and make future increases more predictable. ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016 Research ... "Pharmaceutical Excipients Market by Type (Organic Chemical (Sugar, Petrochemical, ... (Oral, Topical, Coating, Parenteral) - Global Forecast to 2021" ... The global pharmaceutical excipients market is ... a CAGR of 6.1% in the forecast period 2016 ...
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... "Global MEMS Devices Medical Market Analysis 2016 - Forecast to ... The report contains up to date financial ... reliable analysis. Assessment of major trends with potential impact on ... dive analysis of market segmentation which comprises of sub markets, ...
(Date:6/23/2016)... June 23, 2016 Bracket , a leading ... next generation clinical outcomes platform, Bracket eCOA (SM) 6.0, ... June 26 – 30, 2016 in Philadelphia ... Clinical Outcome Assessment product of its kind to fully integrate ... Bracket eCOA 6.0 is a flexible platform for electronic ...
Breaking Medicine Technology: