Weikang Bio-Technology Plans to Launch New Therapeutics in Fourth Quarter 2010
HARBIN, China, Aug. 9 /PRNewswire-Asia-FirstCall/ -- Weikang Bio-Technology Group Co., Inc. (OTC Bulletin Board: WKBT) ("Weikang" or the "Company"), a leading developer, manufacturer and marketer of Traditional Chinese Medicine (TCM), Western prescription and OTC pharmaceuticals and other health and nutritional products in the People's Republic of China, today announced that the Company intends to launch several new therapeutics during the fourth quarter of 2010. Weikang expects that its Sha Bai Shuanghuai Soft Capsules and Gouqi Xi Pu Soft Capsules have the potential to add up to approximately $5.7 million in revenue and up to approximately $2.2 million in net income combined on an annual basis.
"Our research and development team have been working diligently to develop new therapeutics that address the most common health issues in China. Currently, we have a solid pipeline of innovative therapeutics and are targeting to launch at least four new therapeutics a year," commented Mr. Yin Wang, Chairman and CEO of Weikang Bio-Technology Group. "We believe our new therapeutics will have a wide market acceptance as they assist in the prevention and treatment of pervasive health conditions associated with the increasing stress of today's modern lifestyle as well as the impact of ageing on the body. Moreover, our Rongrun brand has a strong reputation for high quality products and an established distribution network which will support our sales efforts in reaching a large number of consumers."
The new therapeutics have been approved by the State Food and Drug Administration (SFDA) and will be sold under the Rongrun brand. A brief description of two of the new therapeutics expected to be launched in fourth quarter 2010 is listed below:
-- Sha Bai Shuanghuai Soft Capsule is developed for preventing and treating cardio and cerebrovascular diseases such as coronary heart disease, angina, hyperlipemia, hypertension and cerebral arteriosclerosis. -- Gouqi Xi Pu Soft Capsule helps to remove free radicals, provides anti-aging protection and enhances the immune system.
About Weikang Bio-Technology Group Co., Inc.
Weikang Bio-Technology Group Co., Inc. is principally engaged in developing, manufacturing and distributing Traditional Chinese Medicine (TCM), and health and nutritional supplements in China, in compliance with requisite Chinese licenses and approvals. The Company is also expanding its business scope to develop, manufacture and distribute Chinese herbal extract products and GMP certified western prescription and OTC pharmaceuticals through its acquisition of Tianfang. For more information, please visit http://www.weikangbio.com .
Safe Harbor Statement
This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact: Company contact: Ren Hu, VP of Finance Weikang Bio-Technology Group Co., Inc. US Tel: +1-201-887-0415 China cell: +86-137-1872-8163 Email: firstname.lastname@example.org Investors Relation contacts: John Marco, Partner, Elite IR Tel: +1-310-819-2948 Email: John.email@example.com Leslie J. Richardson, Partner, Elite IR Tel: +852-3183-0283 Email: Leslie.richardson elite-ir.com
SOURCE Weikang Bio-Technology Group Co., Inc.