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NANTONG CITY, China, Jan. 19 /PRNewswire-Asia-FirstCall/ -- Sinobiopharma, Inc. (OTC Bulletin Board: SNBP, "Sinobiopharma" or the "Company"), a fully integrated and highly innovative biopharmaceutical company engaged in the research and development, manufacture and marketing of pharmaceutical products in China, today announced financial results for the second quarter ended November 30, 2009.

    Second Quarter 2010 Highlights    -- Total revenue increased by 120% year over year to approximately $2.1       million.    -- Gross margin increased 182% year over year to approximately $1.7       million, or 80% of sales.    -- Net income increased $2.1 million from a net loss of approximately $1.0       million in the second quarter of 2009 to net income of approximately       $1.1 million in the second quarter of 2010.    -- The Company scaled up of production and marketing to launch     rolex fake   Sinobiopharma's new drug YiTai (perindopril).

"We achieved excellent revenue and net income growth in the second quarter," said Dr. Lequn Huang, Sinobiopharma's Chairman and CEO stated. "The strong growth is largely due to our increased marketing efforts and strong demand for our main product KuTai (cisatracurium besylate). KuTai is replacing older-generation muscle relaxants since it is uniquely differentiated by both its performance profile and its convenience. KuTai is the only muscle relaxant that can be stored at room temperature. We feel confident that KuTai will continue to gain market share."

    Second Quarter 2010 Results    -- Sales increased 120% to $2,137,471 for the three months ended November       30, 2009, from $971,173 for the three months that ended November 30,       2008. The increase in sales was due largely to the continuing growth in       sales of KuTai (cisatracurium besylate). Increased marketing efforts       and adoption by physicians are driving KuTai sales growth.    -- Gross margin increased 182% to $1,720,308 (80% of sales) for the three       months that ended November 30, 2009, from $610,752 (63% of sales) for       the three months that ended November 30, 2008. The improvement in gross       margin was attributable to operating leverage; as volume increased, the       unit cost of manufacturing KuTai has decreased. The improvement in       gross margin was also attributable to an increase in the price of KuTai,       which is distributed through a GSP licensed distributor while       Sinobiopharma controls marketing, delivery terms and pricing.    -- The operating expenses for the three months ended November 30, 2009       were $596,154, representing a 63% decrease as compared to $1,594,819       for the three months that ended November 30, 2008. The drop was       primarily attributable to the decrease in stock-based compensation       expenses, and to a lesser degree to a decline in expenses from reverse       takeover activities in the three months that ended November 30, 2008.    -- Research and development expenses increased $189,396 from $33,015 for       the three months ended November 30, 2008 to $222,411 for the three       months that ended November 30, 2009. The increase was mainly due to the       technology consulting expenses related to the new drug YiTai       (perindopril), for which Sinobiopharma scaled up for production in       November 2009, and expenditures related to the research and development       of other new drugs during the three-month period that ended November 30,       2009.    -- Other expenses decreased $10,568 from $61,172 for the three months that       ended November 30, 2008 to $50,604 for the three months that ended       November 30, 2009. This decrease was due to a lowered balance of the       shareholder loan, which resulted in lower imputed interest expenses.

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