NEW YORK, Nov. 19 Zacks Equity Research hasinitiated investment research coverage on Sinobiopharma, Inc. (OTC BulletinBoard: SNBP) with an Outperform and six month target price of $0.80. Jiangsu,China-based SNBP, known domestically as Dong Ying Pharmaceutical Co. Ltd., isa fully integrated and high growth company engaged in the R&D, manufacture anddistribution of biopharmaceutical products. The company focuses primarily onthe development of anesthesia-assisted agents as well as antibiotics forpenicillin-allergic patients and cardiovascular-related products related tohigh blood pressure (commercial in October 2009). KuTai, SNBP's flagshipproduct is a first-to-market Cisatracurium Besylate injectable that serves asa low cost skeletal muscle relaxant used during pre-surgical and surgicalprocedures. The company holds five patents in Chiral PharmaceuticalIngredient Synthesis and Purification, and Molecular Packaging Formulation(see proprietary technology section) and has the longer-term ability to expandboth the breadth of its product line and market share through R&D partnershipswith Cornell University, Nanjing University, China Pharmaceutical University,and Nanjing Medical University.
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SOURCE Sinobiopharma, Inc.