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:5/26/2016)... ... 2016 , ... OncLive® , a leading digital provider ... University of Virginia (UVA) Cancer Center to its quickly expanding Strategic ... will publicize and promote public awareness of UVA Cancer Center’s latest advances in ...
(Date:5/26/2016)... (PRWEB) , ... May 26, 2016 , ... ... organization to provide strategic sales leadership and to further develop their rapidly expanding ... B.S. in Business Administration with a concentration in Marketing and an M.B.A. with ...
(Date:5/26/2016)... ... ... Dr. LeRoy Perry’s recently authored whitepaper, “Tech Neck and ROI (return on ... users, hundreds of millions of whom are coming into the workplace with pain in ... action of looking down at hand-held technology devices (tablets, smartphones) for extended periods of ...
(Date:5/26/2016)... ... , ... In 1980, Bill Howe opened AM/PM Sewer and Drains as a ... to grow the company was built on a simple mission of providing qualified San ... and customer service. Over 35 years later, Bill Howe remains one of the largest ...
(Date:5/26/2016)... ... May 26, 2016 , ... TopConsumerReviews.com ... Blood Pressure products . , High blood pressure affects millions of people worldwide, ... blood pressure can lead to heart disease, stroke, kidney disease, and hardening of ...
Breaking Medicine News(10 mins):
(Date:5/26/2016)... According to a new market report ... U.S. Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 ... was valued at US$ 5.89 Bn in 2014 and is ... to 2023 to reach US$ 7.99 Bn in 2023. ... needle free drug delivery devices and the market is estimated ...
(Date:5/26/2016)... A key trend that will ... of new treatments. Cardax, a development stage life sciences ... therapy is expected to fulfil large unmet medical needs ... studies to develop new treatments for osteoarthritis. One such ... in osteoarthritis are being investigated, and early trials of ...
(Date:5/26/2016)... 2016 TARE (Transarterial Radio-embolization) ... Savings and Overall Decreased Use of Hospital ... international specialist healthcare company, has today announced the ... Meeting of ISPOR (International Society for Pharmacoeconomics and ... (HCC) using yttrium-90 glass microspheres is associated with ...
Breaking Medicine Technology: