Jiangbo Pharmaceuticals Inc. (OTCBB: JGBO)
Written by John Pentony on July 10, 2009
OVERVIEW
Jiangbo Pharmaceuticals, Inc. engages in research, development, production, marketing and sales of pharmaceutical products in People’s Republic of China (“PRC”) through its operating subsidiary, Laiyang Jiangbo Pharmaceuticals Co., Ltd. (“Laiyang Jiangbo”). Jiangbo purchases patents for drugs or develops sophisticated drugs through collaboration with leading research institutions. The Company is well positioned to benefit from rapidly growing pharmaceutical market in China by its well known brand, experienced management, skilled workforce and extensive distribution network.The company is located in Northeast China in an Economic Development Zone, Laiyang City , Shandong Province.
Jiangbo has 470 full time sales representatives and 620 part time representatives located in all major commerce areas across China. The company has numerous GMP (Chinese State Drug Administration or the SDA) approved manufacturing facilities and production lines, to produce various forms of Traditional Chinese Medicines and Western Medicines. The Company has a production capacity of 6 billion tablets, 70 million boxes of granules and 50 million boxes of capsules. 12 million bottles of Syrup and 8 million bottles of electuary.The acquisition of Hongrui in January 2009 increased Jiangbo’ product portfolio from 6 to 28 products. The Company’s best selling products include Clarithromycin sustained-release tablets, Itopride Hydrochloride granules, Baobaole Chewable Tablets, Radix Isatidis Dispersible Tablets. Currently Jiangbo has three new products in the pipeline awaiting final SFDA approval.
INVESTMENT HIGHLIGHTS:
- Broad Portfolio of Approved Drugs – Genesis owns the rights to manufacture and distribute 28 medicines, including 22 Traditional Chinese Medicines (TCM) recently purchased from Hongrui Pharmaceuticals Limited. The Company’s well balanced portfolio includes western drugs and TCMs, prescription and Over-the-Counter (OTC) drugs. Some of the Company‘s products are listed in provincial and national insurance catalogs, which means patients are reimbursed for buying Genesis drugs.
- Profitable and Rapidly Growing Business -Total revenue for the fiscal year ended June 30, 2008 was $99.5 million, increased 40.0% to $77.0 million and million in fiscal year 2008. Net income margin of 22.6%. Total revenue for the was $60.5 million, up 40.2% from $43.2 month period December 31, 2007.
- Rapidly Growing Pharmaceutical Market in China – China currently the eighth largest pharmaceutical market in the world and is expected to the largest pharmaceutical the world by by 2050. (IMS Health, Fredonia Group)
- Strong economic growth, demographics and the reform and expansion health care systems are expected demand for drugs. Strong Product Pipeline – Class 1 drugs and widely marketable new prescription drugs listed on the catalogs to maximize the availability of these acquires patented products and collaborates with research institutions to commercialize sophisticated new drugs.
- Nationwide Marketing and Distribution Network – Genesis has an extensive sales network which now covers all of mainland China except for Ningxia and Tibet. Products are sold to hospitals and pharmacies through 28 first tier distributors. There are 470 full time and 620 part time sales representatives working on customer-end marketing and services.
MANUFACTURING FACILITY
THE MANAGEMENT TEAM
Wubo Cao - CEO & President
Mr. Cao, Chief Executive Officer, President and Chairman of Jiangbo Pharmaceuticals, Inc, also served as General Manager of Laiyang Jiangbo since 2003 with more than 20 years working experiences in pharmaceutical industry. Previously, from 1998 until 2003, he was General Manager of combined entity: Laiyang Jiangbo Pharmacy Co. Ltd. and Laiyang Jiangbo Chinese and Western Pharmacy Co. Ltd. From 1988 to 1998, he was working in Laiyang Yongkang Pharmaceutical factory as Marketing Manager continually. Prior to this, from 1981 to 1988, Mr. Cao completed his military service in Chinese Army, during which he was the President of sales in Laiyang Yongkang Pharmaceutical Factory.
Elsa Sung - CFO
Ms. Sung is the Chief Financial Officer for Jiangbo Pharmaceuticals, Inc. She joined Jiangbo in October 2007. Ms. Sung served as Vice President of CFO Oncall, Inc. from July 2007 to June 2008. Prior to joining CFO Oncall, Inc., Ms. Sung was an Audit Manager at Sherb & Co., Boca Raton, Florida, responsible for managing, monitoring, as well as performing audits for domestic and international clients. Before joining Sherb & Co., Ms. Sung was a Senior Internal Auditor at Applica Consumer Products, Inc., a U.S. public traded company. Prior to this, Ms. Sung was with Ernst & Young, LLP in West Palm Beach, Florida as a Senior Auditor in the Assurance and Advisory Business Service Group. Ms. Sung is a licensed CPA in the State of Georgia and a member of the American Institute of Certified Public Accountants. She received her Master of Business Administration and Bachelor’s Degree, graduated “Cum Laude”, in Accounting from Florida Atlantic University. She also holds a Bachelor’s Degree in Sociology from National Chengchi University in Taipei, Taiwan.
Haibo Xu COO
Mr. Xu, the Chief Operating Officer for Jiangbo Pharmaceuticals, Inc. He served as a Deputy General Manager of Laiyang Jiangbo since August 2006, also the COO of the combined entity. He was graduated from Shanghai Financial and Economic University in 1993 and engaged in banking career for more than ten years. From August 2006 until present, currently, he is the Deputy General Manager of Laiyang Jiangbo Pharmaceutical Co.Ltd. Previously, from August 2004 to July 2006, he was General Manager of Shandong Province Licheng Investment Co. Ltd. Prior to this, from July 1993 to July 2004, he worked in Bank of China Yantai Branch as a Clerk in Credit Management Department, Governor of the Bank of China Yantai Fushan Branch, and Director of the Risk Control Department in the Bank of China Yantai Branch. Mr. Xu is a National Registered Certificate Accountant in China.
Lining Dong Vice President & Director of Technology
Mr. Dong, Vice President and Director of Technology for Jiangbo Pharmaceuticals, Inc, also served as the Deputy General Manager of Laiyang Jiangbo since July 2003, and also the Vice President and Director of Technology of the combined entity. He was graduated from Shandong Pharmacy University in 1995. Prior to joining Jiangbo Pharmaceuticals, from July 1986 to July 2003, Mr.Dong, a Licensed Pharmacist, worked in Laiyang Biochemistry Pharmaceutical factory, as a checker, associate engineer, workshop director, Head of product technology section, Deputy Director of technology factory. He has published several pharmaceutical thesis articles in magazines such as, Chinese Biochemical Medical Magazine, Food and Drug, and China New Clinical Medicine.
Weidong Yang Vice President & Director of Sales
Mr. Yang is the Vice President and Director of Sales for Jiangbo Pharmaceuticals, Inc. Also, he has served as the Deputy General Manager of Laiyang Jiangbo since July 2003. Previously, from April 2000 to July 2004, he was area director in Jiangsu Jizhou Pharmaceutical Co. Ltd. Prior to this, from February 1995 to March 2000, he worked as sales director at Jiangsu Yangtze Pharmaceutical Co. Ltd.
Jingsheng Xin Vice President & Director of Equipment
Mr. Xin is the Vice President and Director of Equipment Department of Jiangbo Pharmaceuticals, Inc, also served as the Deputy General Manager of Laiyang Jiangbo since October 2003. He was graduated from Chinese People’s Liberation Army Chongqing Wireless Engineering Technical Institute in 1978. Prior to joining Jiangbo Pharmaceuticals, Inc,He worked in Laiyang Construction Bureau from August 2001 to September 2003; Previously, Mr. Xin worked at Pharmaceuticals factory of Army 54685 from April 1983 to August 2001. He has been engaged in pharmaceutical industry for more than 20 years, and his varied experiences including positions as a Technician, Engineer Assistant, Engineer, Deputy Director, Director and Deputy General Manager. He participated in industrial training held by Chinese National Drug Supervising Department and Shandong Drug Supervising Department. Also, he is very familiar with laws and statutes about Chinese pharmaceutical industry.
Hong Xue - Financial Controller
Ms. Xue is the Financial Controller for Jiangbo Pharmaceuticals, Inc. She has also served as the Financial Controller for Laiyang Jiangbo since April 2003. Previously, from March 2000 to September 2003, she was the chief accountant of Laiyang Jiangbo Pharmacy. Prior to this, from March 1999 to March 2000, she worked as an accountant at Laiyang Yonghui Company. Prior to joining Yonghui Company, between March 1990 to March 1999, she worked as coal quality inspector at Laiyang Power Plant company, Prior to this, she worked in Qingzhou Iron and Steel Works as a assayer between July 1988 to March 1990,.
Jiangbo Pharmaceuticals, Inc.(US office) Ms. Elsa Sung, Chief Financial Officer, 950 S.Pine Island Road, Suite A-150 Plantation, Florida 33324 Telephone: (954) 727-8436 Fax: (954) 727-8448 Email:General Information: jiangbopharma@gmail.com Investor relations: crocker.coulson@ccgir.com
CONTACT INFO:
Address of Factory in China: 25 Haihe Road, Laiyang Development Zone, Laiyang City,Yantai, Shandong,China 265200
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