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Jiangbo Pharmaceuticals Announces Fourth Quarter and Fiscal Year 2010 Results
Date:9/30/2010

n the second quarter of fiscal year 2011. Felodipine is expected to generate revenues of $8 million to $12 million during the first twelve months after its launch, which took place in the first quarter of fiscal year 2011.

Based on current information, the Company expects that revenues for fiscal year 2011 will be in the range of $94 million and $96 million and net income, excluding the impact from change in fair value of derivative liabilities and expenses related to the Company's convertible debentures, will be in the range of $29 million and $31 million.

"We believe that our strong balance sheet and cash position provides Jiangbo with unique flexibility to acquire innovative new products and pursue strategic acquisitions. Presently we are evaluating select opportunities to enhance our growth prospects, strengthen our market position and vertically integrate our operations. With the transitional year of 2010 behind us, we believe that we are well positioned to create value for shareholders in 2011 and beyond," commented Mr. Jin.

Conference Call

Jiangbo Pharmaceuticals, Inc. management will host a conference call at 9:00 a.m. Eastern Time on Thursday, September 30, 2010 to discuss financial results for the fourth quarter fiscal 2010 ended June 30, 2010. The conference call will be hosted by Mr. Linxian Jin, CEO, and Ms. Elsa Sung, CFO, of Jiangbo. To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: (800) 815-0215. International callers should dial +1 (706) 758-5465. The Conference ID for this call is 13613835. If you are unable to participate on the live call, a replay will be available for 14 days starting on Thursday, September 30, 2010 at 10:00 a.m. Eastern Time. To access the replay, dial (800) 642-1687, international callers dial (706) 645-9291. The Conference ID is 13613835.

Use of Non-GAAP Financial I
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SOURCE Jiangbo Pharmaceuticals, Inc.
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