Tianyin Pharmaceutical Co., Inc. Has 23 Medicines Included in China's National Insurance Directory
January 07 2010 - 7:00AM
PR Newswire (US)
CHENGDU, China, Jan. 7 /PRNewswire-Asia-FirstCall/ - Tianyin
Pharmaceutical Co., Inc., (NYSE Amex: TPI), a manufacturer and
supplier of modernized traditional Chinese medicine ("TCM") and
Western Pharmaceuticals based in Chengdu, China, today announced
that 23 of its medicine compounds will be included in the 2009
Edition of the National Basic Medical Insurance, Industrial Injury
Insurance and Maternity Insurance Medicine Directory The 2009
Edition Directory includes a total of 2,151 medicines and became
effective throughout the PRC on December 1, 2009. There are 1,164
Western drugs in the Directory, including 349 Category A medicines,
791 Category B medicines, 20 restricted work injury insurance
agents, and four maternity insurance agents. In addition, there are
987 Chinese medicines, including 154 Category A medicines and 833
Category B medicines. Patients will be fully reimbursed for
consumption of Category A medicines by the National Basic Medical
Insurance. The 23 medicines treat a variety of common indications
and diseases and make up approximately 70% of Tianyin's total
revenues for the fiscal year 2009. Among 23 medicines produced by
Tianyin, 8 medicines are classified as Category A and 15 medicines
are classified as Category B. "We are very pleased to have such a
broad base of our product portfolio included in the 2009 National
Insurance Directory. We expect the weighted average price of these
medicines will not be affected and sales volume for these products
will grow significantly, thus creating positive incremental revenue
and earnings growth for 2010 and beyond," Dr. Jiang, Chairman and
CEO of Tianyin Pharmaceutical Co., Inc., commented. "Inclusion in
this Directory will drive demand as consumers benefit from the
government's desire to bring better healthcare to the masses. We
believe this will provide another growth conduit for Tianyin as we
leverage our expanded production capacity, respected brand name and
broad distribution base to capitalize on this significant growth
opportunity." 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, 23 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 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 China,
+86-158-2122-5642, ; Investors: Matthew Hayden, HC International,
+1-561-245-5155, Web site: http://www.tianyinpharma.com/
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