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Wise Sky Highlights Their Disappointment at Emergent's Decision Not to Enter the China Market
Date:9/2/2010

y purchase intentions with several buyers such as the Bureau of Shanghai World Expo Coordination and the Shanghai Municipal Center for Disease Control and Prevention ("SCDC"). Also, Wise Sky was actively negotiating with the government, trying to expedite the approval process for BioThrax. However, after a long time of waiting and internal discussions, Emergent finally decided against filing BioThrax with the SFDA in early 2010, which ultimately cancelled the marketing agreement, as sales and promotions could not continue. Wise Sky also received a formal letter from Emergent terminating the marketing agreement without any compensation. The letter was dated April 26, 2010.

Wise Sky understands Emergent's decision to not enter the Mainland China market is their own business decision. However, in addition to the loss of orders, commissions and promotion expenses, Wise Sky strongly believes that Emergent's decision damages the name of Wise Sky, in a more profound way, by causing a loss of goodwill in China and jeopardizing the relationship between Wise Sky and China's governing authorities, which Wise Sky spent years to establish and maintain. Wise Sky believes this turn of events will have a negative influence and will further affect the marketing of other anti- terrorism products represented by Wise Sky in Mainland China. Wise Sky extends its disappointment at Emergent's decision not to enter the china market.


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SOURCE Wise Sky (Hong Kong) Limited
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