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Jiangbo Pharmaceuticals Reports Results for the Second Quarter of its Fiscal Year 2010
Date:2/22/2010

Business Outlook and Guidance

"Improving our operational efficiency, building our pipeline and strengthening our management team are expected to be our top priorities right now," said Mr. Cao. "We are already taking steps to address these challenges and look forward to providing updates on our progress."

Jiangbo's management has begun reviewing the existing marketing and sales system, including sales force compensation and incentive and effectiveness of our advertising activities. The Company is planning to take steps to reduce and eliminate operational inefficiencies and drive sales growth.

The Company recognizes the need to improve its product pipeline in order to ensure long term growth. In the past several months, the Company has been actively searching for new branded drug opportunities to license or acquire. Management expects revenues to improve in the second half of fiscal 2010. As such, 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.

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SOURCE Jiangbo Pharmaceuticals, Inc.
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