Attached files
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| 8-K - WEIKANG BIO-TECHNOLOGY GROUP CO., INC. | v196555_8-k.htm |
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Company
contact:
Ren
Hu, VP of Finance
Weikang
Bio-Technology Group Co., Inc.
US
Tel: (201) 887-0415
China
cell: 13718728163
Email:
rhu@weikangbio.com
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Investors
Relation contacts:
John
Marco, Partner, Elite IR
Tel: +1-310-819-2948
Email:
John.marco@elite-ir.com
Leslie
J. Richardson, Partner, Elite IR
Tel: +852-3183-0283
Email:
Leslie.richardson@elite-ir.com
|
Weikang
Bio-Technology Issues 2010 and 2011 Fiscal Year Guidance
HARBIN, CHINA—September 14,
2010 - Weikang Bio-Technology Group Co., Inc. (OTC.BB: WKBT - News)
("Weikang" or the "Company"), a leading developer, manufacturer and marketer of
Traditional Chinese Medicine (TCM), Western prescription and OTC pharmaceuticals
and other health and nutritional products in the People's Republic of China,
today announced 2010 and 2011 fiscal year guidance.
For the
fiscal year 2010, Weikang Bio-Technology expects revenue of $55 million, gross
profit of $33 million and net profit of $21 million. The Company is
also targeting fiscal year 2011 revenue growth to be in the range of 30% to 50%
over 2010 revenue. Average gross margin for 2011 is expected to be
approximately 60% as the Company’s sales of higher margin products increases as
a percentage of overall revenue. Revenue growth is supported by the
Company’s solid pipeline of new therapeutics to be launch in fourth quarter 2010
and the first half of 2011. In addition to a variety of sales and
media promotions, Weikang Bio-Technology will be introducing their new
therapeutics to a large number of new retailers and distributors at the 64th
National Drug Exchange Convention in December.
“We are
upbeat about our future growth opportunities as we continue to strengthen our
market position by broadening our sales territory and launching new and exciting
therapeutics that have a wide market potential. In the fourth quarter
of 2010 and the first half of 2011, we intend to launch five new proprietary
therapeutics; Sha Bai Shuanghuai, Gouqi Xi Pu, Shouwu Long Life and Lysozyme
Buccal and Ha Ge Jiao Lan,” commented Dr. Ying Wang, Chairman & CEO of
Weikang Bio-Technology Group Co., Inc. “Our new product launches are
supported through a variety of marketing efforts including providing sales
incentives to our distributors as well as regular media
promotions.”
The new
therapeutics have been approved by the State Food and Drug Administration
(SFDA). A brief description of the new therapeutics expected to be
launched are listed below:
Rongrun
Brand
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·
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Sha
Bai Shuanghuai is primarily used for preventing and treating cardio and
cerebrovascular diseases such as coronary heart disease, angina,
hyperlipemia, hypertension and cerebral
arteriosclerosis.
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·
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Gouqi
Xi Pu is primarily used to remove free radicals, provides anti-aging
protection and enhances the immune
system.
|
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·
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Ha
Ge Jiao Lan is primarily used for treating symptoms associated with
menopause as well as increases youthful vitality and balances
hormones.
|
TianFang
Brand
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·
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Shouwu
Long Life is primarily used to improve the function of the kidney and
liver as well as enhance overall energy
levels.
|
|
·
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Lysozyme
Buccal is primarily used to prevent and treat respiratory tract infection
including inflammation of the pharynx and
larynx.
|
About
Weikang Bio-Technology Group Co., Inc.
Weikang
Bio-Technology Group Co., Inc. is principally engaged in developing,
manufacturing and distributing Traditional Chinese Medicine (TCM), and health
and nutritional supplements in China, in compliance with requisite Chinese
licenses and approvals. The Company is also expanding its business scope to
develop, manufacture and distribute Chinese herbal extract products and GMP
certified western prescription and OTC pharmaceuticals through its acquisition
of Tianfang. For more information, please visit http://www.weikangbio.com.
Safe
Harbor Statement
This
press release contains certain statements that may include "forward looking
statements." All statements other than statements of historical fact included
herein are "forward-looking statements." These forward-looking statements are
often identified by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks and
uncertainties. Although the Company believes that the expectations reflected in
these forward-looking statements are reasonable, they do involve assumptions,
risks and uncertainties, and these expectations may prove to be incorrect. You
should not place undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company's actual results could
differ materially from those anticipated in these forward-looking statements as
a result of a variety of factors, including those discussed in the Company's
periodic reports that are filed with the Securities and Exchange Commission and
available on its website (http://www.sec.gov). All forward-looking statements
attributable to the Company or persons acting on its behalf are expressly
qualified in their entirety by these factors. Other than as required under the
securities laws, the Company does not assume a duty to update these
forward-looking statements.