Chengdu-based Tianyin Pharmaceutical has received the production license of Tongbianling Capsules in dosage form of 0.25 gram per capsule and is due to market the new product in February 2009.
Tianyin is a manufacturer and supplier of modernized traditional Chinese medicine and Tongbianling Capsule is a generic TCM reportedly effective in treating one-time abdominal distention constipation, bedridden constipation, and elderly chronic constipation. Similar to other geographic areas, constipation is a common disease among the elderly in China. According to Chinese Journal of Modern Nursing, the incidence of constipation among the elderly is about 15% to 30%. According to China's epidemiology survey, there are about 147 million Chinese over the age of 60 and it is estimated that approximately 45 million people regularly use laxatives. Tongbianling Capsule is also listed in the National Medical Insurance Program, thus allowing insured patients to receive reimbursement for the costs of this prescription.
"We are pleased to announce the approval of Tongbianling Capsules which sets the stage for full commercialization of such medicine. We will start marketing this widely used drug through our distribution partners and extensive sales network in February 2009. We expect that the product will generate significant revenue after 6 months of the initial launch. We are pleased with our progress to move additional drugs that are currently in our pipeline through the approval process toward commercialization, which will enable us to achieve our operating goals in 2009," stated Dr. Jiang, chairman and CEO of Tianyin.
Tianyin also reiterated its fiscal year 2009 guidance and anticipates that revenues for the year which ends June 30, 2009 will exceed USD46 million with net income at least USD7.5 million. This guidance does not include potential future acquisitions, for which Tianyin is not currently in any formal discussions nor for which Tianyin has any formal agreements, and management will reportedly continue to evaluate its business outlook as necessary and communicate any changes on a quarterly basis or when appropriate.