Jiangbo Pharmaceuticals, Inc.(fka JGBO)

[B7$4]

JGBO News - Jiangbo Pharmaceuticals receives Shandong FDA approval for hypertension drug

http://www.tradingmarkets.com/news/stock-alert/jgbo_jiangbo-pharmaceuticals-receives-shandong-fda-approval-for-hypertension-drug-1115961.html

Aug 17, 2010 (Datamonitor via COMTEX) --
Jiangbo Pharmaceuticals has received approval from the Shandong Food and Drug Administration, or Shandong FDA, to start the sales of Felodipine sustained release, or SR, tablets, which are used to treat hypertension.

After the company received approval from the Chinese State Food and Drug Administration to start producing Felodipine SR tablets in early June of 2010, Shandong FDA reviewed the company's manufacturing equipment and capacity to produce Felodipine SR tablets, examined the final products from its pilot production and approved the sale of Felodipine SR tablets.

Linxian Jin, CEO of Jiangbo, said: "We are very excited to begin the commercial launch of Felodipine SR tablets, which we believe will be a key revenue and profit growth driver for us in the next few years. We estimate revenue potential for this drug to be between $8 million and $12 million in the first twelve months of launch with a projected gross margin of at least 70%.

"We believe the addition of Felodipine SR tablets will enrich our product portfolio and will strengthen our competitive market position, while providing more cost effective new medicine to meet growing patient demand."