CHENGDU, China, Sept. 16 TianyinPharmaceutical Co., Inc., (NYSE AMEX: TPI), a manufacturer and supplier ofmodernized traditional Chinese medicines ("TCM") today announced that its newproduction facility obtained the Good Manufacturing Practices Certificate forpharmaceutical products ("GMP Certificate") from the State Food and DrugAdministration ("SFDA") in China.
According to the National Medicine Administration Law of the People'sRepublic of China, all new pharmaceutical manufacturing facilities must passan examination to obtain their GMP Certificates. In June 2009, the examinationcommittee visited Tianyin Pharmaceuticals and conducted a review of managementpractices of its new production facility, including quality control of rawmaterials, manufacturing processes, and the inspection and acceptance of itsfinished products. Tianyin's new production facility for solid dosage drugsmet all GMP standards.
"We are very pleased with the SFDA's decision to grant us the GMPcertification, which is the result of hard work and dedication from our entireteam," Dr. Jiang, Chairman and CEO of Tianyin Pharmaceutical Co., Inc.,commented. "This certification is the final step to commencing production atour new facility and effectively tripling the capacity of our solid dosagemedicines, such as Azithromycin Dispersible Tablets, Mycophenolate MofetilCapsules, Dantong Capsules and other recently approved medicines in ourportfolio. This will enable us to meet our projected 40% revenue growth forfiscal 2010 while providing the capacity to accommodate up to $100 million inannual revenues as we look toward the future."
About Tianyin Pharmaceuticals
Tianyin is a manufacturer and supplier of modernized Traditional ChineseMedicine ("TCM") in China. It was established in 1994 and acquired by thecurrent management team in August 2003. It has a comprehensive productportfolio of 39 products, 22 of which are listed in the highly selectiveNational Medicine Catalog of the National Medical Insurance program. Tianyinowns and operates two GMP manufacturing facilities and an R&D platformsupported by leading Chinese academic institutions. The Company has a pipelineof 40 pharmaceutical products pending approval. Tianyin has an extensivenationwide distribution network throughout China with a sales force of 720salespeople. Tianyin is headquartered in Chengdu, Sichuan Province with twomanufacturing facilities and a total of 1,365 employees. Tianyin achievedrevenue of approximately $33.5 million and net income of approximately $6million in FY2008 ending June 30, 2008. For more information about Tianyin,please visit http://www.tianyinpharma.com .
Safe Harbor Statement
The Statements which are not historical facts contained in this pressrelease are forward-looking statements that involve certain risks anduncertainties including but not limited to risks associated with theuncertainty of future financial results, additional financing requirements,development of new products, government approval processes, the impact ofcompetitive products or pricing, technological changes, the effect of economicconditions and other uncertainties detailed in the Company's filings with theSecurities and Exchange Commission.For more information, please contact: For the Company: Allen Tang, Ph.D., MBA, Assistant to the CEO China Tel: +86-158-2122-5642 Email: [email protected]
Investors: Mr. Matthew Hayden, HC International Tel: +1-561-245-5155 Email: [email protected]
SOURCE Tianyin Pharmaceutical Co., Inc.