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According to the information available on Kelun's website, Kelun wasfounded in 1996 and has grown into a pharmaceutical group with 16 subsidiaries(branches). Kelun manufactures and sells drugs in 351 varieties of 16 typesincluding IV solutions, and has the largest number of product varieties andpackaging forms in the IV solution industry of China. Kelun is one of thelargest manufacturers of IV solutions in the world and exports to marketsoverseas. In 2009, Kelun sold approximately 2.2 billion bottles (bags) ofinjection products in various kinds, and its revenue exceeded RMB 3.2 billion.Kelun's market share in China was 23.4% in 2009.
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Weifang Shengtai is a leading producer of pharmaceutical injection-gradeglucose in China. It has about 40% of the market and is one of the only 3licensed manufacturers in China of injection grade dextrose monohydrate.Weifang Shengtai's supply agreement with Kelun represents the fact thatWeifang Shengtai has won recognition, reputation and trust among qualitycustomers in China. Weifang Shengtai continues to be committed to productionof the series of glucose products, high-end glucose products, development ofproducts, increase of production capacity and expansion into markets overseas.Weifang Shengtai's focus on high-end customers as well as targeting onoverseas markets will help increase profitability.
Shengtai Pharmaceutical, Inc. believes that the business between WeifangShengtai, as one of the top-quality suppliers of pharmaceutical raw materialsin China, and Kelun, as one of the top-quality pharmaceutical manufacturers inChina, will benefit the two parties in achieving expansion of production andcontinuous improvement of product quality.
Forward Looking Statements
Certain statements in this press release and oral statements made by theCompany constitute forward-looking statements concerning the Company'sbusiness and products. These statements include, without limitation,statements regarding our ability to prepare the Company for growth, theCompany's planned capacity expansion and predictions and guidance relating tothe Company's future financial performance. We have based theseforward- looking statements largely on our current expectations andprojections about future events and financial trends that we believe mayaffect our financial condition, results of operations, business strategy andfinancial needs, but they involve risks and uncertainties that could causeactual results to differ materially from those in the forward-lookingstatements, which may include, but are not limited to, such factors asunanticipated changes in product demand especially in the pharmaceuticalindustry, pricing and demand trends for the Company's products, changes togovernment regulations, risk associated with operation of the Company's newfacilities, risk associated with large- scale implementation of the Company'sbusiness plan, the ability to attract new customers, ability to increase itsproduct's applications, cost of raw materials, downturns in the Chineseeconomy, and other information detailed from time to time in the Company'sfilings and future filings with the United States Securities and ExchangeCommission. Investors are urged to consider these factors carefully inevaluating the forward-looking statements herein and are cautioned not toplace undue reliance on such forward-looking statements, which are qualifiedin their entirety by this cautionary statement. The forward-looking statementsmade herein speak only as of the date of this press release and the Companyundertakes no duty to update any forward-looking statement to conform thestatement to actual results or changes in the Company's expectations.For more information, please contact: Shengtai Pharmaceutical, Inc. Tel: +86-536-629-5802 Email: [email protected] Investor Relations DME Capital, LLC Mr. David M. Elias Tel: +1-516-967-0205 Email: [email protected]
SOURCE Shengtai Pharmaceutical, Inc.
