Message #16 From:
NewsBot Date: July 18, 2006 06:00:00 AM
TEDG News Techedge Inc. Projects $10,000,000 in Sales for 2006
ISELIN, N.J.--(BUSINESS WIRE)--July 18, 2006--Techedge Inc. (OTCBB: TEDG), having previously announced its intent to change its name to China BioPharma, Inc., is pleased to issue the following corporate update.
Techedge Inc. has repositioned itself as a developer, producer, and distributor of human vaccine products in China. Techedge has acquired China BioPharma Limited ("CBL") and established its operational joint venture, Zhejiang Tianyuan Biotech Co., Ltd. ("ZTB") in Hangzhou, China. Techedge's wholly owned subsidiary, CBL owns 65% of ZTB and Zhejiang Tianyuan Bio-pharmaceutical Co., Ltd. owns the remaining 35%. Techedge Inc., through its subsidiary ZTB, currently markets two human vaccines. ZTB anticipates the sale of 3 million doses of Influenza Vaccine and 1 million doses of Epidemic Hemorrhagic Fever Vaccine in 2006.
Techedge Inc., through ZTB, will commercially introduce Japanese Encephalitis Vaccine (JEV) by the first quarter of 2007. The State Food and Drug Administration of China (SFDA) approved this vaccine for distribution in December of 2005. Techedge Inc. will continue with its efforts to develop new human vaccines, and introduce them into the market in the future.
With the flu vaccination season starting in August, ZTB has launched its sales effort and anticipates approximately $10,000,000 in sales revenue, and positive in Net Income, for the fiscal year 2006. The Chinese market for Flu vaccinations has grown from 3,920,000 doses in 2000 to 22,300,000 doses in 2005.
The main customers of ZTB are local Centers for Disease Control and Insurance companies within China. ZTB is also in the process of registering its flu vaccine products with several other countries for the purpose of exporting the flu vaccine outside of China.
With the advantages of its production and distribution capabilities, and fast growing economy in China, Techedge Inc. wants to build its strategic value by introducing advanced technology, better product, and experienced management team into its operations in China.
FORWARD-LOOKING STATEMENT DISCLAIMER
Some of the statements made in this press release discuss future events and developments, including our future business strategy and our ability to generate revenue, income and cash flow, and should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These "forward-looking" statements can generally be identified by words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," and similar expressions. These statements involve a high degree of risk and uncertainty that exists in the Company's operations and business environment and are subject to change based on various factors that could cause actual Company results, performance, plans, goals and objectives to differ materially from those contemplated or implied in these forward-looking statements. Actual results may be different from anticipated results for a number of reasons, including the Company's new and uncertain business model, uncertainty regarding acceptance of the Company's products and services and the Company's limited operating history.
