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China Sky One Medical, Inc. Signs Distribution Agreement with Harbin Baolong Pharmaceutical Company

2008-07-15 07:00:00

    HARBIN, China, July 15 /Xinhua-EMWNews-FirstCall/ -- China Sky One

Medical, Inc. ("China Sky One Medical" or "the Company") (Amex: CSY), a

leading fully integrated pharmaceutical company producing external use,

over- the-counter drugs in the People's Republic of China ("PRC"),

announced today that it signed an agreement with Harbin Baolong

Pharmaceutical Company on July 12 to distribute the Company's prescription


    China Sky One, which has a history of producing external use and

over-the- counter drugs, has recently acquired pharmaceutical companies

that develop and produce prescription drugs. As a result, prescription

drugs manufactured by China Sky One have doubled and now make up

approximately 30% of its total product lines. Harbin Baolong Pharmaceutical

Company, which has an extensive distribution network for prescription drugs

in China, achieved revenues of in excess of RMB 500 million (USD $73.1

million) in each of the last two years.

    The agreement, which initially runs over five years, has a total

estimated value of approximately RMB 61.5 million (USD $ 9 million.) To

date, China Sky One has been selling five of its prescription drugs through

Baolong's distribution network, which it expects will generate sales of

approximately RMB 20.5 million (USD $3 million) from August 2008 to

December 2008.

    "We are excited to be cooperating with Harbin Baolong Pharmaceutical

Company," said Mr. Yan-Qing Liu, Chairman, CEO and President of China Sky

One Medical, Inc. "We are confident that our move into the prescription

drug market via Baolong's strong distribution channel represents a solid

opportunity for future growth and can ultimately help us expand our market

share and increase profitability going forward."

    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 ("TDR") and Harbin First Bio- Engineering Company

Limited ("First"), the Company manufactures and distributes

over-the-counter pharmaceutical products, which make up its major revenue

source. For more information, visit .

    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.

For more information, please contact: Company Contact: China Sky One Medical, Inc. Ms. Yanwei Zhang, Board Secretary Tel: +86-451-5399-4064 Email: [email protected] Investor Relations Contact: CCG Investor Relations Mr. Crocker Coulson, President Tel: +1-646-213-1915 Email: [email protected] Mr. Richard Micchelli, Financial Writer Tel: +1-646-454-4516 Email: [email protected] Web:

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