CHENGDU, China, Aug. 13 /PRNewswire-Asia-FirstCall/ -- Tianyin Pharmaceutical Co., Inc., (NYSE AMEX: TPI), a manufacturer and supplier of modernized traditional Chinese medicine (“TCM”) based in Chengdu, China, today announced that it has received approvals from the Chinese State Food and Drug Administration (SFDA) to produce Sanqi Tablets in dosage form of 0.5 gram/tablet (SFDA approval number Z20093512) and Yinqiao Jiedu Tablets in dosage form of 0.5 gram/tablet (SFDA approval number Z20093555).
Sanqi Tablets are a generic TCM that effectively treats traumatic injuries and stops bleeding without causing blood stasis, while also alleviating associated pain and reducing swelling. Sanqi is also used as a hemostatic for patients with internal bleeding or hemorrhagic diseases. According to Tianyin’s market research and estimation, annual sales of Sanqi are approximately $73.5 million in China. Tianyin expects to gain a portion of the market share in orthopedic medicine through the production and marketing of Sanqi Tablets.
Yinqiao Jiedu Tablets are a generic TCM which are used mainly to treat acute respiratory system ailments, such as influenza and common cold. It is specifically used to clear the lungs and aid in function of the throat. Tianyin estimates that total annual sales of Yinqiao Jiedu Tablets are approximately $1.2 billion in China. Tianyin expects the demand of this product will increase during the wintertime flu season and that our introduction of this product will increase the Company’s market share in the flu medicine market.
“We are very pleased to receive approvals for our Sanqi Tablets and Yinqiao Jiedu Tablets from the Chinese SFDA. These products further complement our product portfolio and create additional revenue opportunities for medical indications which we have not previously addressed,” Dr. Jiang, Chairman and CEO of Tianyin Pharmaceutical Co., Inc., commented. “We will produce both drugs in our new facility which just passed Sichuan provincial FDA inspection, a key component of GMP certification, in July. We believe the facility meets all GMP standards and we expect to receive certification in the very near term, a milestone which will significantly increase our capacity and enable us to achieve our growth objectives.”
About Tianyin Pharmaceuticals
Tianyin is a manufacturer and supplier of modernized Traditional Chinese Medicine (“TCM”) in China. It was established in 1994 and acquired by the current management team in August 2003. It has a comprehensive product portfolio of 39 products, 22 of which are listed in the highly selective National Medicine Catalog of the National Medical Insurance program. Tianyin owns and operates two GMP manufacturing facilities and an R&D platform supported by leading Chinese academic institutions. The Company has a pipeline of 40 pharmaceutical products pending approval. Tianyin has an extensive nationwide distribution network throughout China with a sales force of 720 salespeople. Tianyin is headquartered in Chengdu, Sichuan Province with two manufacturing facilities and a total of 1,365 employees. Tianyin achieved revenue of approximately $33.5 million and net income of approximately $6 million in FY2008 ending June 30, 2008. For more information about Tianyin, please visit http://www.tianyinpharma.com .
Safe Harbor Statement
The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company’s filings with the Securities and Exchange Commission.
For more information, please contact:
For the Company: Allen Tang, Ph.D., MBA, Assistant to the CEO China Tel: +86-158-2122-5642 Email: Allen.y.tang@gmail.com
Investors: Mr. Matthew Hayden, HC International Tel: +1-561-245-5155 Email: matt.hayden@hcinternational.net
