Today, Jiangbo Pharmaceuticals, Inc., a U.S. pharmaceutical company with its primary operations in China, reaffirmed its previously announced guidance for fiscal year 2009. According to the press release, the company anticipates meeting or exceeding its goals of $111 to $116 million in revenue and operating income of $40 to $43 million for the fiscal year ending June 30, 2009.
“We plan to report our annual results for the fiscal year 2009 by the end of this month and are pleased to reaffirm we are on track to achieve our financial goals,” stated Mr. Wubo Cao, Chief Executive Officer of Jiangbo. “We continue to revamp the production lines which we acquired from Hongrui earlier this year. We expect this project to be completed in May 2010, when we should be able to begin mass production of other profitable TCM products. Thus, we continue to feel confident in maintaining a healthy growth rate over the long term.”