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

or $0.46 per fully diluted share, for the quarter ended December 31, 2008(*) -- Received renewal of Good Manufacture Practice ("GMP") certificate from the State Food and Drug Administration ("SFDA") for its tablets and granules -- In January 2010, Osteomyelitis treatment tablets were included in the 2009 Edition of the National Basic Medical Insurance Directory

"Our second quarter sales volume was adversely impacted by the temporary production stoppage at our main facility related to the re-certification of our GMP certificate. In addition, we faced heightened competition associated with China's newly announced National Basic Medical Insurance plan," said Jiangbo's Chairman and CEO, Mr. Wubo Cao. "Our main facility has now returned to normal operations and we have reinforced our sales efforts. We expect sales volumes to improve in the second half of 2010. We continue our cost control efforts, which we expect to improve operational efficiency and drive organic growth, and we plan to leverage our strong cash position to bring in new drug opportunities."

Second Quarter of Fiscal Year 2010 Results

Total revenue for the three months ended December 31, 2009 was $18.2 million, a decrease of '/>"/>

SOURCE Jiangbo Pharmaceuticals, Inc.
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