Navigation Links
Tianyin Pharmaceutical Co. Inc.'s Ginkgo Mihuan Oral Solution Completes 2009 Tenders
Date:4/21/2009

CHENGDU, China, April 21 /PRNewswire-Asia-FirstCall/ -- Tianyin Pharmaceutical, Co., Inc., (NYSE Amex: TPI), a manufacturer and supplier of modernized traditional Chinese medicine ("TCM") based in Chengdu, China, today announced that it has completed the new round of tenders for its proprietary Ginkgo Mihuan Oral Solution for the year 2009 in China.

In China, medical organizations and institutions invite tenders from various pharmaceutical manufacturers annually, which is a critical component of the sales process. During the second half of 2008, medical organizations and institutions initiated the 2009 tendering process for pharmaceuticals throughout China. Tianyin's flagship product, Ginkgo Mihuan Oral Solution, has successfully completed this process and received recognition from medical institutions such as hospitals and clinics, and market experts who were in charge of the tender process. The tender covers most provinces and cities in China and will improve the sales process, while improving the overall margin. During the second quarter of fiscal 2009, which ended December 31, 2008, Ginkgo Mihuan contributed approximately 25.7% to total revenues for the quarter with associated gross margins of approximately 74%.

In order to further increase the concentration of its commercial customer base and streamline the sales and distribution process, Tianyin's sales department is focusing its efforts on consolidating the Company's provincial distributors. Those who exhibit strong regional advantages, including a large footprint, higher capacity and larger order history will be chosen as "First Tier" provincial distributors. This group of distributors will purchase products directly from Tianyin and be responsible for selling to sub-distributors and dealers who previously purchased directly from the Company. Simultaneously, Tianyin is decreasing payment terms for remaining commercial customers who do not meet "First Tier" criteria; previously, payment terms for smaller customers was over 60 days despite order size or product mix, now it will be less than 60 days. Tianyin has also offered small discounts for pre-payment of orders to increase cash flow and reduce days sales outstanding ("DSO"). For the quarter ended December 31, 2008 Tianyin had DSO's of 41.

"We are very pleased to complete the tenders for our flagship product Ginkgo Mihuan Oral Liquid as our focused sales and marketing efforts have successfully generated awareness in many of our key pharmaceutical markets in China and added revenues to our performance year to date. We expect these initiatives will enable us to further increase our market share for this key product, while contributing to revenue growth and improving profit margins during fiscal 2009. We also expect to secure 2009 tenders for other major products," Dr. Jiang Guoqing, Tianyin's Chairman and CEO commented. "In addition, our initiatives to streamline distribution, improve payment terms and the quality of our commercial customers is aimed at reducing risk while improving cash flow and customer satisfaction. We continue to grow our business by deploying the correct strategies at the right time. We have begun to witness improvements in both accounts receivable and working capital, which will further improve an already strong balance sheet. We are dedicated to growing our business intelligently and creating tangible returns for our shareholders."

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:
     Mr. Matthew Hayden, HC International
     Tel:   +1-561-245-5155
     Email: matt.hayden@hcinternational.net
     Web:  http://www.hcinternational.net

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

Related medicine news :

1. Tianyin Pharmaceutical Co., Inc. Series A Preferred Shareholders Approved Cash Dividend to Common Stockholders
2. Tianyin Pharmaceutical Co., Inc. Announces Cash Dividend to Common Stockholders
3. Tianyin Pharmaceutical Co., Inc. Announces Record Second Quarter 2009 Financial Results
4. Tianyin Pharmaceutical Co., Inc. Begins Initial Share Buyback under its Repurchase Program
5. 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
6. Tianyin Pharmaceutical Co., Inc. Authorizes $3.0 Million Stock Repurchase Program
7. Tianyin Pharmaceutical Co., Inc. Receives Chinese SFDA Approval for Laonian Kechuan Tablets
8. Tianyin Pharmaceutical Co., Inc. Announces Trading Symbol Error and Correction
9. Tianyin Pharmaceutical Co., Inc. Receives Chinese SFDA Approval for Simvastatin Tablets
10. Tianyin Pharmaceutical Co., Inc. Completes Production for Earthquake
11. Tianyin Pharmaceutical Signs Over 60 New Distribution Agreements with 15 Regional Distributors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/24/2017)... ... May 24, 2017 , ... Drs. Nicholas Rallis and Chris ... spent 10 years as clinical instructors for the reputable Full Mouth Rehabilitation continuing ... the program, private practitioners receive cutting-edge clinical training and learn how to perform ...
(Date:5/24/2017)... ... ... Myers Jackson is well known for auctioning homes that people move and flip. ... planet. The luxury home market is alive and well and there are mansions for ... “11 Spyglass Hill Auction will enlighten you on the dynamics of how to market ...
(Date:5/24/2017)... ... 2017 , ... Accordant Technology, a trusted IT solutions provider, ... analytics-first approach, layered with machine learning, that provides real-time visibility into the performance, ... to the edge. Through the new partnership, customers get the real-time situational insight ...
(Date:5/24/2017)... ... May 24, 2017 , ... ... and nonprofit hospitals and health systems in the nation and help their organizations ... led professional organizations and been instrumental in developing successful hospital and health system ...
(Date:5/23/2017)... ... May 23, 2017 , ... MDLand International (MDLand), a ... today that its iClinic V12.2 solution has achieved approval from National Center for ... PCMH 2017 standards which emphasize team-based care with a significant focus on the ...
Breaking Medicine News(10 mins):
(Date:5/15/2017)... 2017 Enterin Inc., a privately-held CNS pharmaceutical company ... compounds to treat Parkinson,s disease (PD), has enrolled the first ... 1/2a randomized, controlled, multicenter study involving patients with PD and ... patients over a 9-to-12-month period. The first stage is open ... PD. Participating sites include Denver , ...
(Date:5/10/2017)... -- Hologic, Inc. (Nasdaq: HOLX ) announced ... quarter ended April 1, 2017 .   GAAP diluted ... to the prior year period as the sale of ... while non-GAAP diluted EPS of $0.50 increased 6.4%.  Revenue ... currency terms.  Excluding the effects of blood screening and ...
(Date:5/10/2017)... -- Radiology has become the number one diagnostic tool ... to the number one ranking as a result.  More ... as the most complete and reliable method for clinical ... pain an MRI may confirm a suspected herniated disc ... entirely different treatment protocols.  In these circumstances, patients need ...
Breaking Medicine Technology: