TPI Provides Further Updates on its GMOL Flagship Product
CHENGDU, China, July 6, 2012 /PRNewswire-Asia/ -- Tianyin Pharmaceutical Co., Inc. (NYSE Amex: TPI, or the "Company"), a pharmaceutical company that specializes in patented biopharmaceutical medicine, modernized traditional Chinese medicine (mTCM), branded generics and active pharmaceutical ingredients (API) today provided further updates on the business development of TPI's flagship product: Gingko Mihuan Oral Liquid or GMOL (H20013079), a prescription medicine that is used by physicians for cardiovascular diseases such as stroke, coronary heart diseases, angina, etc. The additional information regarding GMOL can also be accessed at www.sfda.gov.cn, (Chinese version) or http://baike.baidu.com/view/3029034.htm. GMOL was recently awarded Essential Drug List (EDL) status in the City of Chongqing. Chongqing, located in southwest China, with a population over 30 million and its status as the municipality directly under the jurisdiction of the PRC Government along with other major cities with the same status, Beijing, Tianjin and Shanghai which are located in the east coastal area are regarded one of the most attractive markets in pharmaceutical sales in China.
In April, TPI has announced the inclusion of GMOL as a provincial supplementary Essential Drug Listed (EDL) product in both Henan and Shandong provinces (with combined population of approximately 200 million) which granted GMOL a full insurance coverage (100% government reimbursement) for patients. GMOL contributes approximately 50% of TPI's core product portfolio that consists of GMOL, Apu Shuangxin Granules (Apu), Azithromycin Tablets (Azi), Xuelian Chongcao (XLCC) and Qingre Jiedu Oral Liquid (QR) and approximately 30% of TPI's total revenue.
Under the ongoing healthcare reform policy that favors the sale of products that are listed in the EDL of China, the national and provincial EDL listing could substantiate the market development of these products.
Headquartered at Chengdu, China, TPI is a pharmaceutical company that specializes in the development, manufacturing, marketing and sales of patented biopharmaceutical, mTCM, branded generics and API. TPI currently manufactures a comprehensive portfolio of 58 products, 24 of which are listed in the highly selective national medicine reimbursement list, 7 are included in the national essential drug list of China. TPI's pipeline targets various high incidence healthcare indications. For more information about TPI, 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.
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SOURCE Tianyin Pharmaceutical Co., Inc.