Weikang Bio-Technology Group Co., Inc. Is Expected to Achieve the Net Profit of at Least $26 Million
HARBIN, China, Feb. 27, 2012 /PRNewswire-Asia-FirstCall/ — Weikang Bio-Technology Group Co., Inc. (WKBT.PK)(“Weikang” or the “Company”), a leading developer, manufacturer and marketer of Traditional Chinese Medicine (TCM), Western prescription and OTC pharmaceuticals and other health and nutritional products in the People’s Republic of China, today announced that the Company is expected to report its fiscal 2011 net profit of between $26 million to $28 million with EPS between $0.78 and $0.84 and revenue between $100 million and $102 millions.
“We are excited and confident about our results for 2011 and growth prospects beyond. The economy in China as we feel in general is slowing down, however we believe that the market for our high-quality therapeutics and health enhancement will continue to expand as China is expected to become the second largest pharmaceutical market by 2020,” commented Mr. Yin Wang, Chairman and CEO of Weikang. “Moreover, our pipeline products on which our research team is focused address a large number of health problems and have a broad consumer appeal.”
About Weikang Bio-Technology Group Co., Inc.
Weikang Bio-Technology Group Co., Inc. is principally engaged in developing, manufacturing and distributing Traditional Chinese Medicine (TCM), and health and nutritional supplements in China, in compliance with requisite Chinese licenses and approvals. The Company is also expanding its business scope to develop, manufacture and distribute Chinese herbal extract products and GMP certified western prescription and OTC pharmaceuticals through its acquisition of Tianfang Pharmaceutical Co., Ltd. For more information, please visit http://www.weikangbio.com.
Yue Kang (Venus)
Safe Harbor Statement
Certain statements in this press release constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
SOURCE Weikang Bio-Technology Group Co., Inc.