TPI Board Reinstates Stock Repurchase Program
CHENGDU, China, June 3, 2011 /PRNewswire-Asia-FirstCall/ -- Tianyin Pharmaceutical Co., Inc. (NYSE Amex: TPI), a pharmaceutical company that specializes in patented biopharmaceutical medicine, modernized traditional Chinese medicine, branded generics and other pharmaceuticals today announced that the Board of Directors has reinstated the stock repurchase program that authorized the repurchase of up to 3 million TPI's common stock on the open market at prevailing market price.
"The stock repurchase program illustrates our confidence in the long-term growth of the Company and our commitment to returning capital to our shareholders," said Dr. Jiang, Guoqing, Chairman and CEO of TPI.
TPI will update investors on the status of the repurchase program on a quarterly basis, in conjunction with the reporting of its quarterly and annual financial results.
About TPIHeadquartered at Chengdu, China, TPI is a pharmaceutical company that specializes in the development, manufacturing, marketing and sales of patented biopharmaceutical, modernized traditional Chinese medicines, branded generics and other pharmaceuticals. TPI currently manufactures a comprehensive portfolio of 58 products, 24 of which are listed in the highly selective national medicine reimbursement list, 7 are included in the essential drug list of China. TPI's pipeline targets various high incidence healthcare indications. TPI has an extensive nationwide distribution network with a sales force of 730 sales representatives out of totaled 1,365 employees.
For more information about TPI, please visit: http://www.tianyinpharma.com.
Safe Harbor StatementThe Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associa