LAIYANG, China, Oct. 22 JiangboPharmaceuticals, Inc. (OTC Bulletin Board: JGBO) (the "Company" or "Jiangbo"),a pharmaceutical company with its principal operations in China, todayannounced the resignation of Mr. Haibo Xu, the Company's Chief OperatingOfficer ("COO"), effective October 20, 2009. Mr. Xu resigned for healthreasons. The Company has initiated a search for a replacement candidate forCOO. Mr. Xu will continue in his role as a member of the Company's Board ofDirectors.
Mr. Wubo Cao, the Company's Chief Executive Officer, said, "We would liketo thank Mr. Xu for all of his contributions as Jiangbo's COO and we lookforward to continuing to work with him as a valued board member who iscommitted to maximizing the Company's future growth and shareholder value."
About Jiangbo Pharmaceuticals, Inc.
Jiangbo Pharmaceuticals is engaged in the research, development,production, marketing and sales of pharmaceutical products in China. TheCompany's operations are located in Eastern China in an Economic DevelopmentZone in Laiyang City, Shandong Province. Jiangbo produces both western andChinese herbal-based medical drugs in tablet, capsule, granule, syrup andelectuary (sticky syrup) form. For additional information, please visit theCompany's website ( http://www.jiangbopharma.com ).
Safe Harbor Statement
Certain statements in this press release that are not historical facts are"forward-looking statements" within the meaning of the Private SecuritiesLitigation Reform Act of 1995. Such statements are not guarantees of futureperformance and are subject to risks and uncertainties that could cause theCompany's actual results and financial position to differ materially fromthose included within the forward-looking statements. Forward-lookingstatements involve risks and uncertainties. Actual results may differmaterially from anticipated or predicted results, and reported results shouldnot be considered as an indication of future performance. The potential risksand uncertainties include, among others, the Company's ability to obtain rawmaterials needed in manufacturing, the continuing employment of key employees,the failure risks inherent in testing any new drug, the possibility thatregulatory approvals may be delayed or become unavailable, patent or licensingconcerns that may include litigation, direct competition from othermanufacturers and product obsolescence. More information about the potentialfactors that could affect the Company's business and financial results isincluded in the Company's filings, available via the United States Securitiesand Exchange Commission.For more information, please contact: Jiangbo Pharmaceuticals, Inc. Ms. Elsa Sung, CFO Phone: +1-954-727-8435 Email: [email protected]
Web: http://www.jiangbopharma.com CCG Investor Relations, Inc. Mr. Crocker Coulson, President Phone: +1-646-213-1915 Email: [email protected]
SOURCE Jiangbo Pharmaceuticals, Inc.