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Jiangbo Pharmaceuticals Reports Results for Third Quarter of Fiscal Year 2010
Date:5/17/2010

Guidance and Corporate Update

"We recognize the need to expand our commercial product portfolio and build a strong R&D pipeline to create sustainable long-term growth," added Mr. Cao. "As we continue to evaluate the best deployment of our cash for strategic product acquisition and licensing deals, we expect to continue improving our operational efficiency and to strengthen our operational management team to accelerate that effort."

The Company is maintaining its fiscal 2010 revenue guidance of $96 million to $98 million and operating income guidance of $42 million to $44 million. Management expects to continue to deploy its policy of engaging in cost-effective marketing of select key drugs and improving operational efficiency in the fourth quarter of fiscal 2010.

Renovation at the Hongrui's factory is continuing and is now expected to finish by early July 2010. The Company has increased the scope of this project to include additional repairs and upgrades to ensure the production facilities will, similar to the existing Jiangbo facility, conform to GMP standards.

With $96.5 million in cash, Jiangbo continues to actively evaluate opportunities to in-license or acquire new branded drugs with sustainable long-term growth potential.

Conference Call

Jiangbo Pharmaceuticals, Inc. management will host a conference call on Monday, May 17, 2010 at 7:00 a.m. Eastern Time to discuss financial results for the third quarter ended March 31, 2010. The conference call will include Mr. Wubo Cao, Chairman and CEO, and Ms.

SOURCE Jiangbo Pharmaceuticals, Inc.
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