March 30, 2006 — /MARKET WIRE/ — XI’AN, CHINA — Skystar Bio-Pharmaceutical (OTC BB: SKBI), a leading Chinese-based developer and producer of veterinary pharmaceutical products, announced today that it expects to complete it’s new, state of the art manufacturing facility by the end of September. Skystar also expects to have the new facility in full compliance with the Chinese government’s new Good Manufacturing Practice (GMP) Certification Standard by this summer. GMP Certification is a new pharmaceutical manufacturing standard in which all pharmaceutical companies must be incompliance with to sell its products in China and stay in business. Those companies that are not able to adhere to these high standards will be forced to close their doors.
Skystar has invested over $10 million in the new facility. The new facility will cover over 45 acres and will be one of the most efficient and technologically advanced Bio-Pharmaceutical facilities in China. In anticipation of meeting the GMP standards this summer, Skystar has purchased and installed the most up-to-date equipment that is available in order to keep up with the high demand for its products. Once Skystar becomes a qualified GMP producer in its new facility, it will increase its available capacity to be able to produce 6 billion doses of vaccine products, 6,250 metric tons of microecologics / probiotics feed additives, 5,000 doses of medicines in liquid form, 200 million veterinary tablets, and 3,000 metric tons of powder form and other forms of veterinary medicine.
“We are excited that we are on the verge of receiving GMP certification,” said Weibing Lu, Chief Executive Officer of Skystar Bio-Pharmaceutical. “The market opportunity for our pharmaceutical products is substantial, and the Company is highly focused on positioning itself to become a leading producer of pharmaceutical products in China.”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law, including the statements regarding the Company’s opportunities for future growth. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, obtaining regulatory approvals to market the Company’s products, the uncertainties associated with distributing products in a developing country such as China, the availability of cash to meet near term requirements as well as other economic, competitive and technological factors involving the Company’s operations, markets, services, products and prices. With respect to the Company, except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the Company’s extremely limited operating history, uncertainties related to the Company’s access to additional capital, competition and dependence on key management.
Skystar Bio-Pharmaceutical Company, Ltd.
SOURCE: Skystar Bio-Pharmaceutical