Tianyin Pharmaceutical Announces SFDA Approval to Market Azithromycin
Dispersible Tablets
Company Receives Initial $3.7 Million Distribution Contract from Anhui Huayuan
Pharmaceutical Co., Ltd.
CHENGDU, China, March 17 /Xinhua-PRNewswire-FirstCall/ -- Tianyin
Pharmaceutical, Co., Inc., (OTC Bulletin Board: TYNP), a manufacturer and
supplier of modernized traditional Chinese medicine (''TCM'') based in
Chengdu,
China, today announced that the Company has been granted SFDA approval and is
scheduled to launch Azithromycin Dispersible Tablets in the domestic market on
April 15, 2008.
The manufacturing license for Azithromycin Dispersible Tablets is not only
the first one Tianyin has received but also the first drug approval SFDA has
granted to Sichuan Province in 2008. This is the third generic western
medicine to be included in Tianyin's product portfolio. The Company will
continue to diversify its TCM products, with additional western medicines as
they receive approvals for the 10 drugs that are currently in the SFDA
pipeline.
Azithromycin is highly effective in treating upper and lower respiratory
tract infections and other bacterial infections in skins and reproductive
system. Ever since the drug's first introduction, its sales have been growing
steadily. Worldwide sales have grown from US$ 619 million in 1996 to $2.01
billion in 2003, representing a 32.6% growth over the previous year.
Azithromycin has become a blockbuster product and is now among the TOP 50
prescription drugs in terms of global sales. It is estimated that
approximately $350 million in total Azithromycin sales were generated in China
during 2007.
''We are pleased to have the first of our pipeline products approved by
the SFDA and believe that the launch of Azithromycin provides the opportunity
for significant growth in both sales revenue and net profit in the coming
years,'' stated Dr. Guoqing Jiang, Chairman and CEO.
The largest domestic distributor of Azithromycin, Anhui Huayuan
Pharmaceutical Co., Ltd. is currently one of Tianyin's top strategic partners
and has awarded the Company a $3.66 million distribution contract for 2008
covering most of the PRC for Azithromycin and other products. Margins
associated with this product are in line with the Company's blended average
during the past year. This collaboration will help speed the market entry of
Tianyin's Azithromycin Dispersible Tablets and enable the Company to leverage
its National SFDA manufacturing approval to gain market share throughout
China.
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 34 modernized TCMs in the market, 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 51 pharmaceutical products pending approval. Tianyin has an
extensive nationwide distribution network throughout China with a sales force
of 523 salespeople. Tianyin is headquartered in Chengdu, Sichuan Province with
two manufacturing facilities and a total of 869 employees. Tianyin achieved
revenue of $20.4 million and net income of $3.95 million in FY2007 ending June
30, 2007.
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: +86-15821225642
Email: Allen.y.tang@gmail.com
Investors:
HC International, Inc.
Alan Sheinwald
Tel: +1-914-669-0222 (U.S.)
Email: Alan.Sheinwald@hcinternational.net
SOURCE Tianyin Pharmaceutical, Co., Inc.
For the Company - Allen Tang, Ph.D., MBA, Assistant to the CEO, China,
+86-15821225642, or Allen.y.tang@gmail.com; Investors - HC International,
Inc., Alan Sheinwald, +1-914-669-0222 (U.S.), or
Alan.Sheinwald@hcinternational.net
