HARBIN, China, June 18 /Xinhua-PRNewswire-FirstCall/ -- China Sky One Medical, Inc. (Amex: CSY - News; ''China Sky One’’ or ''the Company’’), a China-based manufacturer, marketer and distributor of pharmaceutical, medicinal and diagnostic kit products, announced today that it has obtained approval from the State Food and Drug Administration (SFDA) in the People’s Republic of China for four new drugs: Tobramycin Eye Drops, Compound Zinc Sulfate Eye Drops, Ofloxacin Suppositories and Ofloxacin Gels.
Tobramycin Eye Drops have been approved for the treatment of acute infection on eyelids. Compound Zinc Sulfate Eye Drops have been approved for the treatment of acute and chronic conjunctivitis and trachoma. Ofloxacin Suppositories have been approved for the treatment for bactericidal colpitis, and Ofloxacin Gels have been approved for the treatment for bactericidal injection. The Company estimates the size of the each market at approximately $ 2 million USD to $2.4 million USD
The new approvals bring the total number of China Sky One’s externally used products to 53 and its total marketed products to 102, giving the Company one of the most comprehensive pharmaceutical product portfolios in China. China Sky One is still aggressively seeking approval for other drugs with large market potential. By the end of 2008, the Company will have a total 34 new drugs submitted to the SFDA for approval.
''These four products in China have an extensive market and China Sky One expects to be able to quickly launch them and expand market share through our extensive sales network and experienced management team,’' said Mr. Yan-qing Liu, Chairman, CEO and President of China Sky One Medical, Inc. ''Going forward, we are optimistic that these new drugs will provide steady revenues for China Sky One and improve our profitability.’'
About China Sky One Medical, Inc.
China Sky One Medical, Inc., a Nevada corporation, is a China based company engaged in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic kit products. Through its wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company and Harbin First Bio-Engineering Company Limited the Company manufactures and distributes over-the-counter pharmaceutical products as its primary revenue source. For more information, visit http://www.skyonemedical.com .
Safe Harbor Statement
Certain 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. Additional statements that are necessarily forward looking in nature also include, without limitation, statements relating to our research and development activities, expected revenues or sales margins, results of recent acquisitions and our ability to increase sales and expand our presence in the global market place, and risks or uncertainties relating to PRC socioeconomic issues. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. The Company cannot provide any assurance that it will be able to establish listing of its securities on any national or regional securities exchange or market system. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the inability of the company to meet listing standards of an exchange, 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 both in China and throughout the world 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.
For more information, please contact:
China Sky One Medical, Inc. Ms. Yanwei Zhang, Board Secretary Tel: +86-451-5399-4064 Email: cntiandiren@yahoo.com.cn
CCG Elite Investor Relations Inc. Mr. Crocker Coulson, President Tel: +1-646-213-1915 (New York) Email: crocker.coulson@ccgir.com Web: http://www.ccgelite.com
Source: China Sky One Medical, Inc.
