HARBIN, China, July 8 /Xinhua-PRNewswire-FirstCall/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (Amex: CSY), a leading fully integrated pharmaceutical company producing external use, over-the-counter drugs in the People’s Republic of China ("PRC"), today announced that it successfully developed a propyl gallate injection for the treatment of acute cerebral infarction, coronary heart disease, thrombosis, dysmenorrheal and nephropathy.
Heilongjiang Tianlong Pharmaceutical, Inc. ("Tianlong"), a wholly-owned subsidiary of China Sky One Medical, Inc., recently completed research and development for eight different types of injections, obtaining production approval for three injections, including the propyl gallate injection. The production process for the propyl gallate injection is complex, and only seven other manufacturers are currently able to produce it.
"We are very excited about the development of a propyl gallate injection," said Mr. Yan-Qing Liu, Chairman, CEO and President of China Sky One Medical, Inc. "We are now in the last stage before formal production, and expect to launch the product in the middle of August. We currently estimate that sales of the propyl gallate injection will add at least USD $3 million in revenue in the fourth quarter."
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’’) and Harbin First Bio- Engineering Company Limited ("First"), 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.
For more information, please contact:
Company Contact:
China Sky One Medical, Inc.
Ms. Yanwei Zhang, Board Secretary
Tel: +86-451-53994064
Email: cntiandiren@yahoo.com.cn
Investor Relations Contact:
CCG Elite Investor Relations
Mr. Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Mr. Richard Micchelli, Financial Writer
Tel: +1-646-454-4516
Email: richard.micchelli@ccgir.com
Website: http://www.ccgelite.com