LAIYANG, China, Sept. 8 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (the “Company”, “Jiangbo”), a U.S. pharmaceutical company with its principal operations in the People’s Republic of China, today reaffirmed its previously announced guidance for fiscal year 2009. The Company expects to meet or exceed its goals of $111 to $116 million in revenue and operating income of $40 to $43 million for the fiscal year ending June 30, 2009.
“We plan to report our annual results for the fiscal year 2009 by the end of this month and are pleased to reaffirm we are on track to achieve our financial goals,” said Mr. Wubo Cao, Chief Executive Officer of Jiangbo. “We continue to revamp the production lines which we acquired from Hongrui earlier this year. We expect this project to be completed in May 2010, when we should be able to begin mass production of other profitable TCM products. Thus, we continue to feel confident in maintaining a healthy growth rate over the long term.”
About Jiangbo Pharmaceuticals, Inc.
Jiangbo Pharmaceuticals, Inc. is a U.S. public company engaged in the research, development, production, marketing and sales of pharmaceutical products in the People’s Republic of China. Its operations are located in Eastern China in an Economic Development Zone in Laiyang City, Shandong province. Jiangbo is a major pharmaceutical company in China producing both western and Chinese herbal-based medical drugs in tablet, capsule, granule, syrup and electuary (sticky syrup) form. http://www.jiangbopharma.com
Safe Harbor Statement
Certain statements in this press release that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company’s actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties. Actual results may differ materially from anticipated or predicted results, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company’s ability to obtain raw materials needed in manufacturing, the continuing employment of key employees, the failure risks inherent in testing any new drug, the possibility that regulatory approvals may be delayed or become unavailable, patent or licensing concerns that may include litigation, direct competition from other manufacturers and product obsolescence. More information about the potential factors that could affect the Company’s business and financial results is included in the Company’s filings, available via the United States Securities and Exchange Commission.
SOURCE Jiangbo Pharmaceuticals, Inc.
CONTACT: Elsa Sung, CFO of Jiangbo Pharmaceuticals, Inc., +1-954-727-8435,
elsasung@jiangbo.com; Or Crocker Coulson, President of CCG Investor
Relations, Inc., +1-646-213-1915, crocker.coulson@ccgir.com
Web site: http://www.jiangbopharma.com/
