TPI Signs Macrolide API International Sales and Marketing Agreement
CHENGDU, China, June 15, 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 active pharmaceutical ingredients (API) today announced that the signing of the sales and marketing agreement with RELATIONS International Ltd., a Bangladesh corporation that specializes in the API sales for its Azithromycin API product sales in the People’s Republic of Bangladesh. “The signing of the agreement demonstrates our effort in further developing our macrolide antibiotic API business internationally,” said Dr. Jiang, Chairman and CEO of TPI.
TPI forecasts $30 million domestic Azithromycin API revenue in China for the first year of operation from its Jiangchuan macrolide facility (JCM) that has an annual manufacturing capacity of 250 tons. The international sales revenue from macrolide API is expected to contribute additional revenue for TPI.
Currently the JCM's license for manufacturing Azithromycin API is active (H10970072). Additional information regarding JCM can be found at www.sfda.gov.cn (Chinese version).
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 active pharmaceutical ingredients (API). 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 re