HARBIN, China, Dec. 23 /PRNewswire-Asia-FirstCall/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") , a leading fully integrated pharmaceutical company producing over-the-counter drugs in the People's Republic of China ("PRC"), announced today that its subsidiary, Heilongjiang Tianlong Pharmaceutical, Inc. ("Tianlong"), successfully obtained production approval from the State Food and Drug Administration (SFDA) in China for four of its newly developed drugs.
"The Chinese government plans to increase subsidies for the rural medical insurance system, which we believe will be a huge potential market for our products," said Mr. Yan-Qing Liu, Chairman and CEO of China Sky One Medical. "These four new drugs address a number of relatively common diseases in rural China and we have already created a sales force aimed at the rural market. We expect to launch these new drugs in the second quarter of 2009 and will provide a detailed sales estimate shortly."
About China Sky One Medical, Inc.
China Sky One Medical, Inc., a Nevada corporation, is a holding company. The Company engages in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic products. Through its wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company ("TDR"), Harbin First Bio-Engineering Company Limited ("First"), Heilongjiang Tianlong Pharmaceutical, Inc. ("Tianlong") and Peng Lai Jin Chuang Company Pharmaceutical Company ("Jin Chuang") the Company manufactures and distributes over-the-counter pharmaceutical products, which make up its major revenue source. For more information, visit http://www.skyonemedical.com .
Safe Harbor Statement
Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward- looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
CONTACT: Company Contact: China Sky One Medical, Inc., Mr. Yu-Bo Hao, CFO,
+86-451-5399-4069, or china_sky_one@yahoo.cn; Investor Relations Contact:
CCG Investor Relations - Mr. Crocker Coulson, President, +1-646-213-1915,
or crocker.coulson@ccgir.com
Web site: http://www.skyonemedical.com/
