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).
1. The Alliance platform is to be established based upon TPI's newly
completed and imminently GMP-certified Qionglai Facility (QLF).
2. 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.
3. 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.
4. 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.
5. 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."
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