IO NewsWire

November 16, 2010 07:30 ET

(OTCBB: BOPH) Posts 57% Increase in Net Income

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO News Wire

NEW YORK, NY--(Marketwire - November 16, 2010) - Bohai Pharmaceuticals Group, Inc. (OTCBB: BOPH) announced on Friday their fiscal first quarter earnings, ended September 30th, 2010.

Bohai is engaged in the production, manufacturing and distribution of traditional Chinese Medicine (TCM) in China. The Chinese Government officially supports the use of TCM to enhance the wellness of its population and to treat chronic and acute diseases. The Chinese Government is expected to increase spending in this area to nearly $125 billion in 2010.

Increased Chinese Government regulation has closed nearly a third of pharmaceutical manufacturers in China giving Bohai a larger share of the market and greater credibility as a TCM manufacturer. This should further boost revenues as Bohai continues to expand its operations.

Recently, Bohai was given a 12-month price target of $6.45 a share by Murphy Analytics.

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Other active stocks are Tianyin Pharmaceutical Co (NYSE Amex: TPI) China Sky One Medical (NASDAQ: CSKI) and Midex Gold Corp (PINKSHEETS: MXGD)

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