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Article: Tianyin Pharmaceutical Co., Inc. Updates Fiscal 2010 Guidance and Announces Joint Venture with Sichuan Mingxin Pharmaceutical Co. to Pursue Macrolide Antibiotics Growth Initiative.
- Article from:
- Biotech Week
- Article date:
- November 11, 2009
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Tianyin Pharmaceutical, Co., Inc., (NYSE Alternext: TPI), a manufacturer and supplier of modernized traditional Chinese medicine ("TCM") based in Chengdu, China, announced it has formed a joint venture with Sichuan Mingxin Pharmaceutical Co., Ltd ("Mingxin") named Sichuan Jiangchuan Pharmaceutical Co., Ltd. ("Jiangchuan"). Tianyin owns 77% of Jiangchuan and will utilize this as the foundation for a broader, longer term strategy to build a significant presence in the rapidly growing Chinese macrolide antibiotics market, while diversifying its revenue base of western pharmaceuticals (see also Marketing and Licensing Agreements).
Specifically, Jiangchuan will manage ...