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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
Recordati S.p.A And Lee Pharmaceutical Announce Partnership For Zanidip(R) In China
» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
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»02/09/2009 [Industry news]
Skystar Bio-Pharmaceutical (CGPN) Awarded High Technology Enterprise Certificate

Skystar Bio-Pharmaceutical Company, a China-based producer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, today announced that the Company was awarded a High Technology Enterprise Certificate from the Shaanxi Province Ministry of Science and Technology, Shaanxi Province Ministry of Finance and Shaanxi Province State Administration of Taxation.

 
Skystar Bio-Pharmaceutical Company, a China-based producer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, today announced that the Company was awarded a High Technology Enterprise Certificate from the Shaanxi Province Ministry of Science and Technology, Shaanxi Province Ministry of Finance and Shaanxi Province State Administration of Taxation. This Certificate extends Skystar\'s 15% preferential income tax rate, rather than the statutory 25% tax rate, through December 31, 2011. The Company can extend the Certificate from January 1, 2012 through December 31, 2014. For the period beginning January 1, 2015 the Company will need to go through a re-certification process to keep the Certificate. High Technology Enterprise Certificates are awarded to qualified enterprises that meet the following criteria: developing core intellectual property rights, receiving over 60% of their annual revenues from high-technology products/services, and perform highly technical research and development. Skystar initially received the Certificate in 2000 and has since received the 15% preferential tax rate. \"The criteria for obtaining this Certificate have become increasingly difficult,\" said Weibing Lu, Skystar\'s Chairman and Chief Executive Officer. \"However, our continued compliance with these evolving standards further validates our commitment to bringing new products to market and executing an effective R&D strategy. We are proud of the continuing recognition by the Chinese government for our contributions to China\'s animal farming industry as we continue to grow our business. Skystar is executing on its immediate strategy to meet its 2009 objectives of 40 new product approvals, as well as complete the expansion of two production facilities to meet the growing demand for our products.\"

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