XI’AN, China, Jan. 31 /Xinhua-PRNewswire-FirstCall/ -- Skystar Bio-Pharmaceutical Co., Ltd. (OTC Bulletin Board: SKBI) ("Skystar", "Company"), a leading bio-pharmaceutical company in the People’s Republic of China ("PRC"), today announced that the Company is raising its guidance for 2007 revenue to $15.8 million. The Company previously announced 2007 revenue guidance to be in the range of $12 - $14 million.
"We are proud to announce the first year operating our new veterinary medicine facility we exceeded our revenue target for 2007. Our success in achieving our record revenue is the result of expanding our product line with 62 new drug approvals, increasing our market penetration and implementing an aggressive marketing campaign," commented Skystar’s Chief Executive Officer, Mr. Weibing Lu. "We look forward to another strong year for 2008 as our new vaccine facility is expected to begin large-scale production in the second half of the year."
About Skystar Bio-Pharmaceutical
Skystar Bio-Pharmaceutical Company is a China-based producer and distributor of vaccines, microorganisms and veterinary medication to cure and prevent disease in poultry, livestock, birds and pets. The Company’s product line consists of more than 100 products with over 50 additional products in the developmental stage. Skystar has formed strategic sales distribution networks throughout China. The Company recently completed construction of new state-of-the-art bio-pharmaceutical facilities covering an area of almost eight acres. The new facilities meet or exceed all Good Manufacturing Practice (GMP) Certification Standards and have received GMP Certification from the Chinese government. For additional information, please visit http://www.skystarbio-pharmaceutical.com .
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are based upon the current beliefs and expectations of management and are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Such factors include, but are not limited to the Company’s ability to develop new products, market acceptance of the company’s new products, ability to obtain the regulatory approvals or clearances that are necessary to commercialize its products, ability to protect proprietary rights, political and economic factors in the People’s Republic of China and other factors detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
Scott Cramer
Director - U.S. Representative
Skystar Bio-Pharmaceutical Co., Ltd.
Tel: +1-407-645-4433
Email: scramer@skystarbio-pharmaceutical.com
Crocker Coulson, President
CCG Elite Investor Relations
Email: crocker.coulson@ccgir.com
Leslie Richardson, Financial Writer
CCG Elite Investor Relations
Tel: +1-310-231-8600 x 122
Email: leslie.richardson@ccgir.com
