Tianyin Pharmaceutical Co., Inc. Obtains GMP Certification for Its New Production Facility
September 16 2009 - 7:00AM
PR Newswire (US)
CHENGDU, China, Sept. 16 /PRNewswire-Asia-FirstCall/ -- Tianyin
Pharmaceutical Co., Inc., (NYSE AMEX: TPI), a manufacturer and
supplier of modernized traditional Chinese medicines ("TCM") today
announced that its new production facility obtained the Good
Manufacturing Practices Certificate for pharmaceutical products
("GMP Certificate") from the State Food and Drug Administration
("SFDA") in China. According to the National Medicine
Administration Law of the People's Republic of China, all new
pharmaceutical manufacturing facilities must pass an examination to
obtain their GMP Certificates. In June 2009, the examination
committee visited Tianyin Pharmaceuticals and conducted a review of
management practices of its new production facility, including
quality control of raw materials, manufacturing processes, and the
inspection and acceptance of its finished products. Tianyin's new
production facility for solid dosage drugs met all GMP standards.
"We are very pleased with the SFDA's decision to grant us the GMP
certification, which is the result of hard work and dedication from
our entire team," Dr. Jiang, Chairman and CEO of Tianyin
Pharmaceutical Co., Inc., commented. "This certification is the
final step to commencing production at our new facility and
effectively tripling the capacity of our solid dosage medicines,
such as Azithromycin Dispersible Tablets, Mycophenolate Mofetil
Capsules, Dantong Capsules and other recently approved medicines in
our portfolio. This will enable us to meet our projected 40%
revenue growth for fiscal 2010 while providing the capacity to
accommodate up to $100 million in annual revenues as we look toward
the future." About Tianyin Pharmaceuticals Tianyin is a
manufacturer and supplier of modernized Traditional Chinese
Medicine ("TCM") in China. It was established in 1994 and acquired
by the current management team in August 2003. It has a
comprehensive product portfolio of 39 products, 22 of which are
listed in the highly selective National Medicine Catalog of the
National Medical Insurance program. Tianyin owns and operates two
GMP manufacturing facilities and an R&D platform supported by
leading Chinese academic institutions. The Company has a pipeline
of 40 pharmaceutical products pending approval. Tianyin has an
extensive nationwide distribution network throughout China with a
sales force of 720 salespeople. Tianyin is headquartered in
Chengdu, Sichuan Province with two manufacturing facilities and a
total of 1,365 employees. Tianyin achieved revenue of approximately
$33.5 million and net income of approximately $6 million 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 press
release are forward-looking statements that involve certain risks
and uncertainties including but not limited to risks associated
with the uncertainty of future financial results, additional
financing requirements, development of new products, government
approval processes, the impact of competitive products or pricing,
technological changes, the effect of economic conditions and other
uncertainties detailed in the Company's filings with the Securities
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: Investors: Mr. Matthew Hayden, HC
International Tel: +1-561-245-5155 Email: DATASOURCE: Tianyin
Pharmaceutical Co., Inc. CONTACT: Allen Tang, Ph.D., MBA, Assistant
to the CEO in China, +86-158-2122-5642, ; or Investors, Matthew
Hayden, HC International, +1-561-245-5155, Web site:
http://www.tianyinpharma.com/
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