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China Sky One Medical, Inc. Obtains Production Approval for Nasal Drop

2008-12-04 18:10 1039

HARBIN, China, Dec. 4 /PRNewswire-Asia-FirstCall/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (Nasdaq: CSKI), a leading fully integrated pharmaceutical company producing over-the-counter drugs in the People's Republic of China ("PRC"), announced today that its wholly-owned subsidiary, Heilongjiang Tianlong Pharmaceutical, Inc. ("Tianlong"), obtained production approval from the State Food and Drug Administration ("SFDA") in China for a new nasal drop for the treatment of allergic rhinitis and sinusitis.

Different from most of similar medicines with chemicals or hormone ingredients, the new nasal drop includes active ingredients found in traditional Chinese medicines with minimum side effects. The incidence of nasal disease, such as rhinitis and sinusitis, is high in China, especially in the Northwest and along the coast. There are currently five enterprises who have received this SFDA approval in China, and the other four manufacturers have not put it into production due to limited distribution channels. Not only has China Sky One obtained the necessary production approvals, but the Company has an extensive distribution network in place to meet the huge potential demand from this market. The Company expects to begin production in 2009.

"We are very excited about our new nasal spray and estimate that revenues from this product will reach USD 3 million within year 2009 once distribution starts in February," said Mr. Yan-Qing Liu, Chairman, CEO and President of China Sky One Medical. "We are confident that our advanced R&D capabilities and ability to identify drugs with strong potential and attractive margins will continue to help us expand market share and enhance profitability."

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.

For more information, please contact:

Company Contact:

China Sky One Medical, Inc.

Mr. Yubo Hao, CFO

Tel: +86-451-5399-4069

Email: china_sky_one@yahoo.cn

Investor Relations Contact:

CCG Investor Relations

Mr. Crocker Coulson, President

Tel: +1-646-213-1915

Email: crocker.coulson@ccgir.com

Web site: http://www.ccgirasia.com

Source: China Sky One Medical, Inc.
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