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Zacks Equity Research Initiates Coverage on Sinobiopharma

NEW YORK, Nov. 19 /PRNewswire-Asia-FirstCall/ -- Zacks Equity Research has initiated investment research coverage on Sinobiopharma, Inc. (OTC Bulletin Board: SNBP) with an Outperform and six month target price of $0.80. Jiangsu, China-based SNBP, known domestically as Dong Ying Pharmaceutical Co. Ltd., is a fully integrated and high growth company engaged in the R&D, manufacture and distribution of biopharmaceutical products. The company focuses primarily on the development of anesthesia-assisted agents as well as antibiotics for penicillin-allergic patients and cardiovascular-related products related to high blood pressure (commercial in October 2009). KuTai, SNBP's flagship product is a first-to-market Cisatracurium Besylate injectable that serves as a low cost skeletal muscle relaxant used during pre-surgical and surgical procedures. The company holds five patents in Chiral Pharmaceutical Ingredient Synthesis and Purification, and Molecular Packaging Formulation (see proprietary technology section) and has the longer-term ability to expand both the breadth of its product line and market share through R&D partnerships with Cornell University, Nanjing University, China Pharmaceutical University, and Nanjing Medical University.

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SOURCE Sinobiopharma, Inc.