Government Assistance: China Sky One Gets R&D Lift From Harbin Officials
June 9, 2010 (FinancialWire) — China Sky One Medical, Inc. (NASDAQ: CSKI), a Chinese pharmaceutical company, said that Guozhang Cong, the vice mayor of Harbin, and other municipal government officials visited the company's headquarters. During the visit, the Harbin government officials pledged to help the company with its R&D efforts in specific ways.
In particular, Harbin's Committee of Industry and Information plans to provide China Sky One Medical with free access to the national marketing information management system.
Additionally, if the company has a new product included in the National Breakthrough Drug Project, Harbin's Committee of Development and Reform and Harbin Bureau of Science and Technology have committed to jointly provide government funding to help drive China Sky One Medical’s novel R&D programs.
China-based
China Sky One Medical, Inc., a Nevada corporation, is a holding company. The Company engages in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic products. Through its wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company ("TDR"), Harbin First Bio-Engineering Company Limited ("First"), Heilongjiang Tianlong Pharmaceutical, Inc. ("Tianlong") and Peng Lai Jin Chuang Pharmaceutical Company ("Jin Chuang") the Company manufactures and distributes over-the-counter pharmaceutical products, which make up its major revenue source. For more information, visit http://www.cski.com.cn .
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