Tianyin Pharmaceutical Co., Inc. Provides Fiscal 2011 Guidance
December 03 2009 - 7:30AM
PR Newswire (US)
CHENGDU, China, Dec. 3 /PRNewswire-Asia-FirstCall/ -- -- Management
expects to report revenues of approximately $113.3 million and net
income of approximately $19.6 million for the Fiscal Year which
ends June 30, 2011, representing approximately 78.1% and 73.5%
growth over fiscal 2010 guidance Tianyin Pharmaceutical, Co., Inc.,
(NYSE Alternext: TPI), a manufacturer and supplier of modernized
traditional Chinese medicine ("TCM") based in Chengdu, China, today
announced financial guidance for fiscal year 2011. The forecasted
revenue of $113.3 million for fiscal 2011 will represent a 78.1%
increase over the projected fiscal year 2010 revenues of $63.6
million, while the forecasted net income of $19.6 million will
represent a 73.5% increase over the projected net income of $11.3
million for fiscal 2010. Growth will be driven by increased
revenues from the Company's existing product portfolio and new
products commercialized from its pipeline, in addition to the
wholesale initiative for branded specialty products, which are
collectively expected to contribute approximately $90.8 in revenues
and $18.2 in net income. The recently announced Sichuan Jiangchuan
Pharmaceutical Co. Ltd. joint venture for macrolide antibiotic API
production is expected to contribute approximately $22.5 million in
revenues and $1.4 million in net income. These forecasts do not
include any potential future acquisitions or joint venture
agreements. The company is currently evaluating several acquisition
opportunities, including companies with complementary product
portfolios, and those which would accelerate the macrolide
antibiotic business growth strategy. "It's important for our
shareholders to understand the management's vision for building a
successful pharmaceutical company through both organic growth and
accretive acquisitions. My previous CEO experience building Kehlun
Pharmaceuticals into a $1 Billion IV solution product company in
China has helped me gain the necessary management skill sets and
business network to accomplish these goals. The current favorable
growth dynamics in the pharmaceutical industry and the rapid surge
in China's domestic consumption give us confidence that our timing
for accelerating Tianyin's expansion is just right and we are very
optimistic about our Company's future," commented Dr. Guoqing
Jiang, Chairman and CEO of Tianyin Pharmaceutical, Inc. "We are
very pleased to report that growth in our core business is
accelerating as demand for key products, including Ginko Mihuan,
underscores the importance of having a portfolio of branded
pharmaceuticals which address large market opportunities. The
recent SFDA approval for these 2 new products are expected to be
meaningful contributors and complement the 10 products we launched
in the past year to further diversify our product base. Enhanced
capacity, supported by our new production facility, and broader
distribution channels provide the foundation for significant long
term revenue growth," Dr. Jiang concluded. 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 17 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. 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 Tel: +158-2122-5642 (China) Email:
Investors: HC International, Inc. Matt Hayden Tel: +1-561-245-5155
(US) Email: DATASOURCE: Tianyin Pharmaceutical, Co., Inc. CONTACT:
Allen Tang, Ph.D., MBA, Assistant to the CEO of Tianyin
Pharmaceutical, Co., Inc., +86-158-2122-5642(China), ; or
Investors, Matt Hayden of HC International, Inc.,
+1-561-245-5155(US), Web site: http://www.tianyinpharma.com/
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