Based in Shangri-La County, in Yunnan Province, China, Tibet Pharmaceuticals, Inc. (Nasdaq: TBET) is a growing and profitable specialty pharmaceutical company engaged in the research, development, manufacturing and marketing of modernized traditional Tibetan medicines.
All of its current products are offered and derived from Tibetan based traditional medicines and are manufactured by Tibet Pharmaceuticals using plant-based natural materials, particularly the herbs and minerals found in the high-latitude, low-temperature, and pollution-free environment of the Qinghai-Tibet Plateau. Tibet Pharmaceuticals sells five major prescription and over-the-counter Tibetan medicine products, each of which has certain medicinal functions and has demonstrated safety and efficacy in accordance with China's SFDA requirements.
Tibet Pharmaceuticals' objectives are to maintain and strengthen the position of its products in the Tibetan medicine healthcare segment in China. The company is expanding its distribution network to diversify and broaden its market penetration. Tibet Pharmaceuticals intends to further expand its reach by building or acquiring national or regional distribution points to drive additional growth of its existing and future products. Pursuing additional acquisitions and licensing opportunities is a significant component of Tibet Pharmaceuticals' growth strategy. Acquisition targets would be Tibetan pharmaceutical companies who have very competitive products, with strong efficacy.
Tibet Pharmaceuticals believes that it has benefited from the overall economic development in China in recent years and the increase in the number of elderly people in China, which together have resulted in increased expenditures on medicine in China, including traditional Tibetan medicine. The Chinese have long perceived and accepted traditional Tibetan medicine as a safe and effective solution to diseases, having the advantage of causing fewer side effects than western medicine, due to the natural ingredients used. With the improvement of living standards in China, the health care industry has grown substantially in recent years, which also stimulated the domestic demands for Tibetan medicine. As China's elder population grows, as well as the increased awareness and perception of the safety of traditional Tibetan medicine products, the market demand for traditional Tibetan medicine products is expected to keep growing.