| By PRNewswire |
| Tuesday, 26 August 2008 |
 |
China-Biotics, Inc., a leading Chinese firm specializing in the manufacture, research, development, marketing and distribution of probiotics products, today announced it signed a ("Square Pharmaceutical") to supply
contract with Henan Square Pharmaceutical Co., Ltd.
|
|
probiotics for Square Pharmaceutical's probiotics-based medicines. The agreement runs through July 2009. Square Pharmaceutical is a GMP-certified pharmaceutical company based in
Henan Province
. It has a portfolio of more than 60 medicines and supplements,
one of which is Chang Wei Ning Capsule, a probiotics-based medicine used to
improve stomach and intestinal health.
"Square Pharmaceutical marks our fifth bulk additives customer, all of
which have signed contracts before we begin production at our new
manufacturing facility," said Mr.
Jinan Song
, China-Biotics' Chairman and
Chief Executive Officer. "We have accelerated the pace of new customer
acquisition for our additive business in preparation for launching our new
plant. Currently, we are in negotiations with another 50 potential commercial customers, of which 30 have begun sample testing for their |
|
|
newly developed probiotics-based products. We expect our new 150-metric-ton probiotics facility to come online in the fourth quarter of 2008. We look forward to increasing the number of business customers in order to occupy the capacity of our new plant when it is up and running."
China-Biotics aims to become one of the largest probiotics suppliers in
the world once the new plant starts production. During the past fiscal quarter,
sales of bulk additives to commercial customers totaled
$1 million
, or 8.8% of
sales, contributing meaningful sales for the first time.
About Henan Square Pharmaceutical Co., Ltd.
Based in Henan Province,
China
, Square Pharmaceutical is engaged in the
development, manufacturing and distribution of pharmaceuticals and supplements.
At its GMP-certified production facility, it manufactures more than 60
products.
About China-Biotics, Inc.
China-Biotics, Inc. ("China-Biotics," "the Company"), a leading manufacturer of biotechnology products and supplements, engages in the research, development, marketing and distribution of probiotics dietary supplements. Through its wholly owned subsidiary, |
|
Shanghai Shining
Biotechnology Co., Ltd., the Company has operations in
Shanghai
.
Its
proprietary product portfolio contains live microbial nutritional supplements
under the "Shining" brand. Currently, the products are sold OTC through large
distributors to pharmacies and supermarkets in
Shanghai
,
Jiangsu
, and Zhejiang.China-Biotics plans to launch 300 Shining brand retail outlets in major cities
in
China
. Currently, China-Biotics is strategically expanding its production
capacity of probiotics to meet growing demand in the bulk additive market.
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