Launch Scheduled for November 2008
CHENGDU, China, Sept. 11 /Xinhua-PRNewswire-FirstCall/ -- Tianyin Pharmaceutical, Co., Inc., (OTC Bulletin Board: TYNP), a manufacturer and supplier of modernized traditional Chinese medicine ("TCM") based in Chengdu, China, today announced that the Company has received approval from the Chinese State Food and Drug Administration (SFDA) to produce Laonian Kechuan Tablets in the dosage form of 0.25 gram/tablet (SFDA approval number Z20083360). The Company plans to launch Laonian Kechuan Tablets in the domestic market and begin recording revenue in November 2008.
Laonian Kechuan Tablets is a TCM drug that effectively treats asthma in people aged 60 or above. According to Chinese SFDA statistics, the market size in China for asthma drugs exceeded $580 million in 2004. Due to the low toxicity and high efficacy, TCM's for asthma have proven to be more readily accepted by patients, and currently comprise over 75% share of the retail market segment for long-term asthma drug users.
The fifth national census reveals that the population 60 years of age and older in China is about 144 million, accounting for one fifth of the world's total. According to China's epidemiology survey, the asthma incident rate among those 60 or above is close to 2.6%. The clinical trials showed that Tianyin's Laonian Kechuan Tablets can effectively boost immunity and improve the recovery of elder patients with asthma. The drug is also effective in treating chronic bronchitis and related indications such as physical weakness.
"We are very pleased to announce the approval of Laonian Kechuan Tablets from the Chinese SFDA, another milestone of our portfolio development which currently includes 37 drugs addressing a number of popular indications," Dr. Jiang, Chairman and CEO of Tianyin Pharmaceutical Co., Inc., commented. "The recent new drug approvals we have received confirm our ability of getting drugs through the SFDA approval process. Our broad development pipeline has 48 drugs in different stages of the approval process and we are optimistic that additional drugs will be approved and start to record revenue in near future."
"We expect to begin production of Laonian Kechuan Tablets by late September and will leverage our national distribution network, including over 700 salespeople, to ensure a successful commercialization of this new drug beginning in November, 2008. Currently we maintain the capacity to produce approximately 1 million tablets of this product monthly. As China's elderly population is rising so rapidly, we anticipate this new drug will be another significant contributor to growth of our revenue and net income," concluded Dr. Jiang.
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 4 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 48 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 1,384 employees. Tianyin achieved revenue of $20.4 million and net income of $3.95 million in FY2007 ending June 30, 2007. For more information about Tianyin Pharmaceuticals, please visit http://www.tianyinpharma.com .
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uncertainty of future financial results, additional financing requirements,
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For more information, please contact:
For the Company:
Allen Tang, Ph.D., MBA, Assistant to the CEO
HC International, Inc.
|SOURCE Tianyin Pharmaceutical, Co., Inc.|
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