Tianyin Pharma Granted GMP for New Solid Dose Facility

Tianyin Pharmaceutical Co. (TPI) announced it received GMP certification for its new solid dosage manufacturing facility from the SFDA. The company said the new facility will triple its solid dose capacity. Tianyin, which has historically concentrated in TCM, has been branching out into generic versions of western drugs.

Tianyin Pharma has predicted a 40% increase in revenue for its 2010 fiscal year, which ends June 30, 2010. Eventually the company expects the new facility will provide capacity for $100 million in annual revenues.

Although Tianyin won’t release its 2009 financial report until next week, the company has said its 2009 revenues were about $42 million and net income totaled $7.5 million. It issued guidance for $59 million in 2010 revenues and $10.5 million in net income.

Four of the company’s products are included in China's Essential Drug List: Azithromycin Dispersible Tablets, Simvastatin Tablets, Hugan Tablets and Xiao Yan Li Dan Capsules and Tablets. Tianyin predicted the EDL may have the effect of doubling these products’ revenue in 2010 to $12 million.

Currently, Tianyin’s portfolio includes 39 products, 22 of them listed in the National Medicine Catalog of the National Medical Insurance program. An additional 40 products are in the pipeline.

Disclosure: none.

Comments

[Alphameister:]

P/E of 9 on this year's earnings and 7 on next year's estimate: clear evidence of the "bubble" in Chinese equities. I have a substantial position in TPI.

Sep 19 09:36 AM

[1113:]

How long have you been on TPI and are you looking to do more?


On Sep 19 09:36 AM Alphameister wrote:

> P/E of 9 on this year

Oct 29 06:54 PM

[1113:]

Their doing a lot of business down the road too.


On Oct 29 06:54 PM 1113 wrote:

> How long have you been on TPI and are you looking to do more?

Oct 29 09:51 PM