SOURCE: Wall Street News Alert

Wall Street News Alert

June 10, 2010 08:38 ET

Wall Street News Alert: Trade Alert: WKBT -- June 10, 2010

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL--(Marketwire - June 10, 2010) -  Wall Street News Alert's "stocks to watch" this morning are: Weikang Bio-Technology Company, Inc. (OTCBB: WKBT), Dendreon Corporation (NASDAQ: DNDN), Pfizer Inc. (NYSE: PFE) and Abbott (NYSE: ABT).

Yesterday after the markets closed, Weikang Bio-Technology Company, Inc. (OTCBB: WKBT) issued a press release announcing that it is launching a new project to research and develop licorice flavonoids for use in therapeutics.

According to the release, Weikang anticipates sales of therapeutics derived from the project will add approximately $13 million to annual revenue and approximately $5.7 million in annual after-tax net income.

Licorice contains glycyrrhetinic acid, which, in addition to being widely used as a flavoring agent, has also been shown to be effective in treating conditions and afflictions such allergies, hepatitis, inflammation and swelling, including peptic ulcers, hypertension, excessive potassium in the body, skin conditions, viral infections, tumor formation and weight loss.

"We are extremely excited to launch the Licorice Flavonoid Project which we believe will be one of the premier sources in China for research and development of extracting and use of glycyrrhetinic acid as a therapeutic. Glycyrrhetinic acid has been proven to provide numerous health benefits for a variety of aliments and through the use of our state-of-the-art technology we expect to be able to produce high quality therapeutics using this important medicinal compound," commented Mr. Yin Wang, Chairman and CEO of Weikang Bio-Technology Group. "Moreover, Heilongjiang Association of TCM conducted a study at our request on the therapeutic benefits of licorice flavonoids and verified that there are multiple benefits to be derived from this compound and is providing their full support for the project.

In addition to the research, development and production of licorice flavonoid based therapeutics, the Licorice Flavonoid Project will directly benefit the local economy by adding jobs, increasing investment in technology and boosting demand for local licorice planting and processing. Due to the positive effects on the local economy, preferential tax treatments from the government are anticipated.

The total investment for the Licorice Flavonoid Project is expected to be $6.58 million, including $2.93 million in R&D; and the first full year of production expected to yield a return on investment of 86%. The construction of the new factory and purchase of equipment will start upon the successful completion of the R&D. Weikang is targeting to begin production of therapeutics developed from glycyrrhetinic acid in 2011 and to reach the full design output of the new factory by 2012.

The stock closed yesterday at $2.75 a share.

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Dendreon Corporation (NASDAQ: DNDN) up 2.8% on 7 million shares traded.
Dendreon Corporation is a biotechnology company targeting cancer and transforming lives through the discovery, development, commercialization and manufacturing of novel therapeutics.

Pfizer Inc. (NYSE: PFE) down 0.2% on 86.5 million shares traded.
At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life.

Abbott (NYSE: ABT) down 0.9% on 8.7 million shares traded.
Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics.

Market Commentary:
Benchmark crude for July delivery rose $2.64 to $74.63 a barrel at midday on the New York Mercantile Exchange. The contract rose 55 cents to settle at $71.99 on Tuesday.

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