CHENGDU, China, Jan. 2, 2014 /PRNewswire/ -- Tianyin Pharmaceutical Co., Inc. (NYSE MKT: TPI), a pharmaceutical company that specializes in patented biopharmaceutical, modernized traditional Chinese medicine (mTCM), branded generics and active pharmaceutical ingredients (API) today updates regarding the Alliance discussions with industrial leaders (private and state-owned enterprises) in China's pharmaceutical market to form integrated platform of its mTCM franchise focusing on its cardiovascular revenue driver Gingko Mihuan (GMOL).
- The Alliance platform is to be established based upon TPI's newly completed and imminently GMP-certified Qionglai Facility (QLF).
- The Alliance is to focus on TPI's core product portfolio along with other portfolio drugs with the possibility of integrating additional products beyond the current indication categories of cardiovascular, viral infection and immunology.
- The Alliance is to be established with TPI's wholly owned subsidiary Chengdu Tianyin Pharmaceutical owning majority stake of the Alliance with the strategic partner owning a minority stake with the total registered capital for the Alliance in the range of RMB 200 million - RMB 250 million, approximately $30 million - $40 million.
- The Alliance is to integrate the current TPI's sales force with the network resources brought by the industrial partner to achieve significant improvement on the revenue of TPI's core portfolio with the focus on GMOL.
- TPI's Jiangchuan macrolide facility (JCM), a wholly owned subsidiary of Chengdu Tianyin, currently valued at $18 million, is not included in the Alliance due to the nature of JCM's business specializing on API manufacturing and sales.
"In recent years, TPI has met challenges due to intensified market competition and policy changes amid the ongoing healthcare reform in China. In an effort to regain the momentum of revenue growth, we ally with well-entrenched industrial leaders to synergize and optimize various resources to improve the depth and coverage of sales networks." TPI's Chairman and CEO, Jiang, Guoqing commented, "We will provide updates when these efforts substantiate."
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, 10 are included in the essential drug list of China. For more information about TPI, please visit: http://www.tianyinpharma.com.
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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.