In the news release, "China Sky One Medical, Inc. Receives SFDA Approval for Five Patches," issued earlier today by China Sky One Medical, Inc. over Xinhua PR Newswire, we are advised by the Company that the eighth paragraph's first sentence should have read: "Since most of these products utilize extracts from the natural herbs, there are no side effects for human consumption," and not what was issued originally.
China Sky One Medical, Inc. Receives SFDA Approval for Five Patches
HARBIN, China, June 3 /Xinhua-PRNewswire-FirstCall/ -- China Sky One Medical, Inc. (Amex: CSY) ("China Sky One Medical", "CSY"), a manufacturer, marketer and distributor of pharmaceutical, medicinal and diagnostic products in China, today announced today that five of its products have received production permit approvals from the SFDA.
Over a year ago, China Sky One Medical began to develop products with large potential global market demand in an effort to expand the Company's export business. The Company established a R&D team dedicated to the development of these products in February 2006. China Sky One Medical has successfully completed pharmacokinetics studies, clinical studies and the manufacturing process for the following patches:
Anti-smoking patch -- breaks down nicotine and other harmful chemical compounds related to cigarette smoking and reduces dependence on cigarettes;
Scar patch -- speeds up the healing of the wounds due to trauma and surgeries and reduces the likelihood of developing permanent scars;
Migraine patch -- provides quick pain relief for migraine sufferers while alleviating dizziness and nausea;
Eye patch -- relaxes the muscles in the retina, which helps to reduce the likelihood of developing myopia;
Coronary heart disease patch -- increases blood circulation in coronary arteries, which reduces the incidences of coronary heart disease and myocardial infarction.
These patches were developed after extensive research into the market potential by China Sky One Medical's business development team. The Company has received purchase orders for some products, such as the anti-smoking patch, prior to receipt of the production permit.
"Since most of these products utilize extracts from the natural herbs, there are side effects for human consumption. This is especially true for anti-smoking patches. Most of the anti-smoking patches on the market contain nicotine and other chemical compounds," said Mr. Yanqin Liu, Chairman and Chief Executive Officer of China Sky One Medical, "The anti-smoking patches developed by China Sky One are extracts from natural herbs, which have no side effects."
This series of patches plays a major role in the Company's strategy in entering into the global market. The Company currently has ten other products in development targeting the global market.
About China Sky One Medical, Inc.
China Sky One Medical, Inc., a Nevada corporation, is a holding company whose principal operations are through its subsidiaries, which are engaged in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic kit products. Through its wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company ("TDR") and Harbin First Bio-Engineering Company Limited ("First"), the Company manufactures and distributes over-the- counter pharmaceutical products as its primary revenue source. For more information, visit http://www.skyonemedical.com .
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 financial projections or information regarding our future plans, objectives or performance. 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 effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, 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.
SOURCE China Sky One Medical, Inc.