New Product is supposed to sell $17.93 Million by June of 2008 If we project these numbers out...they should contribute even more in fiscal 2009....maybe $40-50 Million over the next year!! Not a new item, but how encouraging that they are going full bore into marketing and advertising.
Here is a post from the 8-K:
Baobaole Chewable tablets
Baobaole Chewable tablets, Chinese Drug Approval Number Z20060294, are a new product of Laiyang Jiangbo and entered the market in August 2007. Baobaole Chewable tablets are nonprescription drugs for gastric cavity aches. This drug stimulates the appetite and promotes digestion. Baobaole is used to cure deficiencies in the spleen and stomach, abdomen aches, loss of appetite, and loose bowels. Its effects are mild and lasting.
As of August 2007, Laiyang Jiangbo has completed its entire distribution network for this product and its goal is to reach sales volume of RMB 140 million (US $17.93 million) for this product for the fiscal year ended June 30, 2008.
