China Sky One Medical, Inc. Makes $8.3 Million Acquisition

February 29, 2008 -- China Sky One Medical, Inc. (OTCBB: CSKI), will pay $8.3 million to buy Heilongjiang Tianlong Pharmaceutical, Inc. Like China Sky One, Tianlong focuses on external-use pharmaceuticals. According to China Sky One, Tianlong has $8.3 million worth of assets, including inventory, land use rights, GMP-certified manufacturing facilities, production equipment, and an R&D center. The company also boasts a portfolio of 69 approved drugs (in 98 forms), plus 38 new drugs that are awaiting approval from the SFDA. More details...