HARBIN, China, Dec. 15 /PRNewswire-Asia/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (Nasdaq: CSKI), a leading fully integrated pharmaceutical company developing and producing over-the-counter drugs in the People's Republic of China ("PRC"), today announced that the Company has 30 medicines that will be included in the 2009 Edition of the National Basic Medical Insurance, Industrial Injury Insurance and Maternity Insurance Medicine Directory.
The 30 medicines treat a variety of common ailments and make up 17% of the Company's revenues for the first nine months of 2009. Nine of the medicines, including Salbutamol, Compound Sulfamethoxazole Tablets, Nitrofurantoin Enteric-coated Tablets, Amidopyrine and Phenacetin Compound Tablets, Isatis Root Granules, Pulse-activating Decoction, Compound Salvia Tablets, Guanxinsuhe Capsules, and Antibiotic and Liver Cholaneresis Soothing Tablets, are Category A medicines. Consumption of Category A drugs will be fully reimbursed by the national basic medical insurance system.
The 2009 Edition Directory includes a total of 2,151 medicines. There are 1,164 Western drugs in the Directory, including 349 Category A medicines, 791 Category B medicines, 20 restricted work injury insurance agents, and four maternity insurance agents. In addition, there are 987 Chinese medicines, including 154 Category A medicines and 833 Category B medicines.
"We are excited to have 30 medicines included in the 2009 Edition Directory, which we expect to result in increased sales volumes for these products as pharmacies in China make them widely available to meet demand from patients," said Mr. Yan-Qing Liu, Chairman and CEO of China Sky One Medical. "Few other pharmaceutical companies in China have accomplished this goal, and it further demonstrates the market potential for our rich product portfolio."
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 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.cski.com.cn .
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 the inclusion of the Company's drugs in the 2009 Edition of National Basic Medical Insurance, Industrial Injury Insurance and Maternity Insurance Medicine Directory. 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. Stanley Hao, CFO
Tel: +86-0451-5399-4069
Email: stanleyhao@cski.com.cn
Investor Relations Contact:
CCG Investor Relations
Mr. Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
