EX-99.1
2
v126185_ex99-1.htm
Company
Contact:
Investor
Relations Contact:
China
Sky One Medical, Inc.
CCG
Investor Relations
Mr.
Yu-bo Hao, Board Secretary
Mr.
Crocker Coulson, President
Tel:
+86-0451-53994069
Tel:
+1-646-213-1915
Email:
china_sky_one@yahoo.cn
Email:
crocker.coulson@ccgir.com
Mr.
Richard Micchelli, Financial Writer
Tel:
+1-646-454-4516
Email:
richard.micchelli@ccgir.com
Website:
www.ccgir.com
China
Sky One Medical, Inc. Completes Acquisition of
Peng
Lai Jin Chuang Company
HARBIN,
China, Sept. 11, 2008
-- China
Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (Amex: CSY), a
leading fully integrated pharmaceutical company producing over-the-counter
drugs
in the People's Republic of China ("PRC"), announced today that it completed the
acquisition of Peng
Lai
Jin Chuang Company ("Jin Chuang"). The acquisition was announced on June 12,
2008 and closed on September 5, 2008.
Under
the
terms of the agreement, China Sky One Medical's wholly-owned subsidiary, Harbin
Tian Di Ren Medical Science and Technology Company, acquired 100% of Jin
Chuang's assets for a cash payment of approximately $7.1 million, consisting of
$2.5 million in cash and $4.6 million of China Sky One Medical's common shares.
Jin Chuang is a newly established pharmaceutical company that has obtained
Good
Manufacturing Practice Certification (GMP) approval issued by the country's
State Food and Drug Administration (SFDA). Its assets include franchise,
production and operating rights to a portfolio of twenty (20) medicines approved
by the SFDA for the treatment of colds cardiovascular disease, and
depression.
"This
acquisition complements our business, and we expect to realize greater synergies
as we incorporate Jin Chuang's assets and broaden our manufacturing capabilities
and product line even further", said Mr. Yan-qing Liu, Chairman, CEO and
President of China Sky One Medical. "Even though Jin Chuang is a newly
established company not begun to manufacture, we expect it will begin to
contribute to our profitability at the end of 2008".
About
China Sky One Medical, Inc.
China
Sky
One Medical, Inc., a Nevada corporation, is a holding company. The Company
engages in the manufacturing, marketing and distribution of pharmaceutical,
medicinal and diagnostic products. Through its wholly-owned subsidiaries, Harbin
Tian Di Ren Medical Science and Technology Company, Harbin First Bio-
Engineering Company Limited, and Heilongjiang Tianlong Pharmaceutical, Inc.,
the
Company manufactures and distributes over-the-counter pharmaceutical products,
which make up its major revenue source. For more information, visit http://www.skyonemedical.com.
Safe
Harbor Statement
Certain
of the statements made in the press release constitute forward- looking
statements within the meaning of the Private Securities Litigation Reform Act
of
1995. These statements can be identified by the use of forward- looking
terminology such as "believe", "expect", "may", "will", "should", "project,"
"plan", "seek", "intend", or "anticipate" or the negative thereof or comparable
terminology. Such statements typically involve risks and uncertainties and
may
include financial projections or information regarding our future plans,
objectives or performance. Actual results could differ materially from the
expectations reflected in such forward-looking statements as a result of a
variety of factors, including the risks associated with the effect of changing
economic conditions in The People's Republic of China, variations in cash flow,
reliance on collaborative retail partners and on new product development,
variations in new product development, risks associated with rapid technological
change, and the potential of introduced or undetected flaws and defects in
products, and other risk factors detailed in reports filed with the Securities
and Exchange Commission from time to time.
###

EX - 99 . 1 2 v126185 _ ex99 - 1 . htm Company Contact : Investor Relations Contact : China Sky One Medical , Inc . CCG Investor Relations Mr . Yu - bo Hao , Board Secretary Mr . Crocker Coulson , President Tel : + 86 - 0451 - 53994069 Tel : + 1 - 646 - 213 - 1915 Email : china_sky_one@yahoo.cn Email : crocker.coulson@ccgir.com Mr . Richard Micchelli , Financial Writer Tel : + 1 - 646 - 454 - 4516 Email : richard.micchelli@ccgir.com Website : www.ccgir.com China Sky One Medical , Inc . Completes Acquisition of Peng Lai Jin Chuang Company HARBIN , China , Sept. 11 , 2008 -- China Sky One Medical , Inc . ( " China Sky One Medical " or " the Company " ) ( Amex : CSY ) , a leading fully integrated pharmaceutical company producing over - the - counter drugs in the People ' s Republic of China ( " PRC " ) , announced today that it completed the acquisition of Peng Lai Jin Chuang Company ( " Jin Chuang " ) . The acquisition was announced on June 12 , 2008 and closed on September 5 , 2008 . Under the terms of the agreement , China Sky One Medical 's wholly - owned subsidiary , Harbin Tian Di Ren Medical Science and Technology Company , acquired 100 % of Jin Chuang 's assets for a cash payment of approximately $ 7.1 million , consisting of $ 2.5 million in cash and $ 4.6 million of China Sky One Medical 's common shares . Jin Chuang is a newly established pharmaceutical company that has obtained Good Manufacturing Practice Certification ( GMP ) approval issued by the country 's State Food and Drug Administration ( SFDA ) . Its assets include franchise , production and operating rights to a portfolio of twenty ( 20 ) medicines approved by the SFDA for the treatment of colds cardiovascular disease , and depression . " This acquisition complements our business , and we expect to realize greater synergies as we incorporate Jin Chuang 's assets and broaden our manufacturing capabilities and product line even further " , said Mr . Yan - qing Liu , Chairman , CEO and President of China Sky One Medical . " Even though Jin Chuang is a newly established company not begun to manufacture , we expect it will begin to contribute to our profitability at the end of 2008 " . About China Sky One Medical , Inc . China Sky One Medical , Inc . , a Nevada corporation , is a holding company . The Company engages in the manufacturing , marketing and distribution of pharmaceutical , medicinal and diagnostic products . Through its wholly - owned subsidiaries , Harbin Tian Di Ren Medical Science and Technology Company , Harbin First Bio - Engineering Company Limited , and Heilongjiang Tianlong Pharmaceutical , Inc . , the Company manufactures and distributes over - the - counter pharmaceutical products , which make up its major revenue source . For more information , visit http://www.skyonemedical.com . Safe Harbor Statement Certain of the statements made in the press release constitute forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 . These statements can be identified by the use of forward - looking terminology such as " believe " , " expect " , " may " , " will " , " should " , " project , " " plan " , " seek " , " intend " , or " anticipate " or the negative thereof or comparable terminology . Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans , objectives or performance . Actual results could differ materially from the expectations reflected in such forward - looking statements as a result of a variety of factors , including the risks associated with the effect of changing economic conditions in The People ' s Republic of China , variations in cash flow , reliance on collaborative retail partners and on new product development , variations in new product development , risks associated with rapid technological change , and the potential of introduced or undetected flaws and defects in products , and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time . # # #
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