Navigation Links
Tibet Pharmaceuticals, Inc. Announces Intent to Go Private
Date:2/27/2012

NEW YORK, Feb. 27, 2012 /PRNewswire-Asia/ -- Tibet Pharmaceuticals, Inc. (NASDAQ: TBET), an emerging specialty pharmaceutical company engaged in the development, manufacturing and marketing of traditional Tibetan medicine in China, today announced that,

 "In recent days, we noticed that a website mentioned about auctioning our operating entity's assets. These were untrue and incorrect announcements. Our company is in normal business operation. We're conducting our investigation on this mistaken report, and will keep our investors informed on the investigation result," said Mr. Hong Yu, CEO and Chairman of Tibet Pharmaceuticals. "The Company will take all necessary legal measures to defend itself against any untrue reports and to protect the interests of shareholders."

The Company also announced its intent to accept a "going private" proposal by Mr. Hong Yu, and cease its public company status. "In view of market bias towards Chinese companies listed in U.S. stock exchange and our past stock performance, I hereby make an offer to purchase TBET stocks not owned by me for $3.00 per share in cash,"said Mr. Hong Yu, "delisting details will be announced shortly".

Tibet Pharmaceuticals expects to continue to grow in China's fragmented pharmaceutical and traditional Tibetan medicine industries. The company is committed to establishing itself as a leading manufacturer and distributor of Tibetan medicine in China and believes that additional distribution channels will help enhance its completive advantages in the industry.

About Tibet Pharmaceuticals, Inc.

Based in Shangri-La County, Yunnan Province, China, Tibet Pharmaceuticals, Inc. (NASDAQ: TBET - News) is an emerging specialty pharmaceutical company engaged in the research, development, manufacturing and marketing of modernized traditional Tibetan medicines in China. With 190 employees and nation-wide distributors, the company develops both prescription and over-the-counter traditional Tibetan medicines that promote health in human respiratory, digestive, urinary and reproductive systems. Tibet Pharmaceuticals' products are sold throughout China, with a majority of sales concentrated in the southern provinces, most notably Yunnan Province, where the company's 52,000 sq. ft. GMP-certified manufacturing facilities are located. The access to key raw materials, not generally available outside the province, provides a significant advantage for Tibet Pharmaceuticals.

For comprehensive investor relations material, including fact sheets, research reports, presentations and video, please follow the appropriate link: White Paper, Investor Portal and Overview Video.

For more information on Tibet Pharmaceuticals, please visit:
http://www.tibetpharmaceuticals.com/

Forward-Looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts.

These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, changes in company valuations and investor perceptions of companies, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Contact:

Financial Communications
Trilogy Capital Partners - Asia
Darren Minton
President
Toll-free: 800-592-6067
info@trilogy-capital.com


'/>"/>
SOURCE Tibet Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Auxilium Pharmaceuticals, Inc. and Actelion Pharmaceuticals Ltd. Enter a Collaboration Agreement for XIAFLEX® in Canada, Australia, Brazil and Mexico
2. Acella Pharmaceuticals, LLC, Files Abbreviated New Drug Application (ANDA) With the U.S. Food & Drug Administration
3. Omthera Pharmaceuticals, Inc. to Present at Leerink Swann 2012 Global Healthcare Conference and Citi 2012 Global Healthcare Conference
4. Faruqi & Faruqi, LLP Announces Investigation of BioSante Pharmaceuticals, Inc.
5. Auxilium Pharmaceuticals, Inc. Announces First Patients Dosed in XIAFLEX® Phase Ib Cellulite Study
6. Acella Pharmaceuticals, LLC Announces Its Acquisition of the PRENATE® Family of Trademarks and Associated Intellectual Property
7. Omthera Pharmaceuticals, Inc. to Present at the 30th Annual J.P. Morgan Healthcare Conference
8. Kinex Pharmaceuticals Acquires Rights for Technology and Products from Hanmi Pharmaceuticals, in United States and European Union Territories
9. Block & Leviton LLP Investigates ISTA Pharmaceuticals, Inc.s Board of Directors for Possible Breaches of Fiduciary Duty
10. Auxilium Pharmaceuticals, Inc. Announces First Patient Dosed in XIAFLEX® Study for Frozen Shoulder Syndrome
11. AMG 277 Discriminates Against S1P3 Receptor by 50-fold. S1P1 Lead Compounds Will Be Offered for Sale at a December 8, 2011 Sealed Bid Sale. Assets Generated by Epix Pharmaceuticals, Inc. and Amgen.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/2/2017)...  AllianceRx Walgreens Prime, the combined central specialty pharmacy ... benefit manager Prime Therapeutics LLC (Prime), today officially began ... unveiling of new signage at its headquarters in ... a few other company-owned facilities across the country. This ... of whom will begin to see the AllianceRx Walgreens ...
(Date:9/28/2017)... , Sept. 28, 2017 Hill-Rom Holdings, Inc. ... earnings conference call and webcast on Friday, November 3, ... (EDT) and ending at approximately 8:30 a.m. (CDT) / ... the company,s 2017 financial performance and guidance for 2018, ... initiatives to enhance operational performance, and long-range financial outlook ...
(Date:9/27/2017)... CAESAREA, Israel and NEW YORK , Sept. ... company with mobile health and big data solutions, today announced that its ... today. Please check your local TV listings for when The Dr. Oz ... ... ninth season this month. ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... 13, 2017 , ... Global Healthcare Management’s 4th Annual Kids Fun Run brought ... This free event, sponsored by Global Healthcare Management’s CEO, Jon Letko, is aimed at ... towards children of all ages; it is a non-competitive, non-timed event, which is all ...
(Date:10/13/2017)... ... ... “The Journey: From the Mountains to the Mission Field”: the story of a missionary ... Journey: From the Mountains to the Mission Field” is the creation of published author, ... ages and currently teaches a class of ladies at her church, which she has ...
(Date:10/12/2017)... ... October 12, 2017 , ... Planet Fitness, one of ... announced today its plans to open a flagship location in Covington, LA at 401 ... Rooms To Go store next to Office Depot in the Holiday Square shopping center. ...
(Date:10/12/2017)... ... October 12, 2017 , ... Asante, a ... health care, have expanded their existing home health joint venture through an agreement, ... been operating a joint venture home health company with Asante, delivering clinically integrated ...
(Date:10/12/2017)... ... , ... Leading pediatric oncology experts at Children’s National Health System ... of the International Society of Paediatric Oncology (SIOP) Oct. 12-15. Chaired by ... Blood Disorders at Children’s National, and Stephen P. Hunger, M.D., Chief of the ...
Breaking Medicine News(10 mins):