HARBIN, China, July 15 /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'), announced today
that it signed an agreement with Harbin Baolong Pharmaceutical Company on July
12 to distribute the Company's prescription drugs.
China Sky One, which has a history of producing external use and over-the-
counter drugs, has recently acquired pharmaceutical companies that develop and
produce prescription drugs. As a result, prescription drugs manufactured by
China Sky One have doubled and now make up approximately 30% of its total
product lines. Harbin Baolong Pharmaceutical Company, which has an extensive
distribution network for prescription drugs in China, achieved revenues of in
excess of RMB 500 million (USD $73.1 million) in each of the last two years.
The agreement, which initially runs over five years, has a total estimated
value of approximately RMB 61.5 million (USD $ 9 million.) To date, China Sky
One has been selling five of its prescription drugs through Baolong's
distribution network, which it expects will generate sales of approximately
RMB 20.5 million (USD $3 million) from August 2008 to December 2008.
'We are excited to be cooperating with Harbin Baolong Pharmaceutical
Company,' said Mr. Yan-Qing Liu, Chairman, CEO and President of China Sky One
Medical, Inc. 'We are confident that our move into the prescription drug
market via Baolong's strong distribution channel represents a solid
opportunity for future growth and can ultimately help us expand our market
share and increase profitability going forward.'
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: +86-451-5399-4064
Email: cntiandiren@yahoo.com.cn
Investor Relations Contact:
CCG 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
Web: http://www.ccgir.com
SOURCE China Sky One Medical, Inc.
