China Sky One Medical (中国天字一号医药公司) reported that its wholly-owned subsidiary, Heilongjiang Tianlong Pharmaceutical, obtained production approval from the SFDA in China for a TCM-based nasal drop that treats allergic rhinitis and sinusitis. According to China Sky One, the TCM formula produces fewer side effects than its competitors, which contain chemicals or hormones. China Sky One predicts the nasal drops will add about $3 million to 2009 revenues. More details...

Stock Symbol: (NSDQ: CSKI)