China Sky One Medical Receives R&D Support from Harbin Municipal Government

Jun 08, 2010, 10:03 ET from China Sky One Medical, Inc.

HARBIN, China, June 8 /PRNewswire-Asia-FirstCall/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (Nasdaq: CSKI), a leading fully integrated pharmaceutical company in the People's Republic of China ("PRC"), today announced that Mr. Guozhang Cong, the Vice Mayor of Harbin, and other municipal government officials visited the Company's headquarters.

During the visit, Mr. Yanqing Liu, Chairman and CEO of China Sky One Medical, provided an update on the advances in the Company's pipeline of breakthrough drugs, including the development status of a Class 1 anti-cancer class drug. Mr. Liu also reviewed the status of the Company's application process for the National Bio-medicine Innovation Base and the National Breakthrough Drug Project.

During the visit, the Harbin government officials expressed strong support for and appreciation of China Sky One's R&D commitment and leadership within Harbin's pharmaceutical industry. To encourage the Company to continue its R&D efforts, Harbin's Committee of Industry and Information plans to provide the Company with free access to the national marketing information management system. Additionally, if the Company has a new product included in the National Breakthrough Drug Project, Harbin's Committee of Development and Reform and Harbin Bureau of Science and Technology have committed to jointly provide government funding to help drive the Company's novel R&D programs.

"We appreciate Harbin government's support for our R&D efforts, which reinforces the Company's commitment to continue to expand our product portfolio and develop high-value novel drugs," said Mr. Yan-Qing Liu.

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"), Harbin First Bio-Engineering Company Limited ("First"), Heilongjiang Tianlong Pharmaceutical, Inc. ("Tianlong") and Peng Lai Jin Chuang Pharmaceutical Company ("Jin Chuang") 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 the government support and its effect on the Company's operational results. 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 ability to develop new technologies and products, market acceptance of new product launches, achievability of management's estimates of product sales, the effect of changing economic conditions in The People's Republic of China, 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.
     Mr. Stanley Hao, CFO
     Tel:   +86-0451- 87032617

    Investor Relations Contact:
     CCG Investor Relations
     Ms. Lei Huang, Account Manager
     Tel:   +1-646-833-3417

     Ms. Mabel Zhang, Vice President
     Tel:   +1-310-954-1353

SOURCE China Sky One Medical, Inc.