CHENGDU, China, March 11 /Xinhua-PRNewswire-FirstCall/ -- Viscorp Inc. (OTC Bulletin Board: VSCO; TYNP), a manufacturer and supplier of modernized traditional Chinese medicine ("TCM") based in Chengdu, China, today announced that it has changed its name to Tianyin Pharmaceutical, Co., Inc. The corporate name change is effective immediately.
In addition, effective March 11, 2008, the Company will trade under a new symbol TYNP with the new CUSIP Number of 88630M 104.
Viscorp and Raygere Ltd, which conducts its business through Chengdu Tianyin Pharmaceutical Co., LTD. ("Tianyin"), jointly announced on January 16, 2008, that the companies completed a Definitive Share Exchange Agreement whereby Viscorp acquired all of the outstanding and issued shares of Tianyin.
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 34 modernized TCMs 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 51 pharmaceutical products pending approval. Tianyin has an extensive nationwide distribution network throughout China with a sales force of 523 salespeople. Tianyin is headquartered in Chengdu, Sichuan Province with two manufacturing facilities and a total of 869 employees. Tianyin achieved revenue of $20.4 million and net income of $3.95 million in FY2007 ending June 30, 2007.
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|SOURCE Tianyin Pharmaceutical, Co., Inc.|
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