HARBIN, China, Feb. 15, 2012 --
/PRNewswire-Asia/ -- China Sky One Medical, Inc. ("China Sky One
Medical" or "the Company") (NASDAQ: CSKI), a fully integrated
pharmaceutical company in the People's Republic of China ("PRC"),
today announced that Mr. Yanqing Liu, the Company's Chairman, President and
Chief Executive Officer, is being treated for a life-threatening illness.
Following surgery, he is expected to undergo
long-term chemotherapy and traditional Chinese medicine treatments. As a
result, Mr. Liu's availability to devote time to the Company's business will be
substantially reduced.
Recently, 26 middle-management level employees
have resigned, of which nine were in the accounting department, two were in the
internal control department, two were in the information technology department,
11 were in the sales department, and two were in the production center.
Although the Company is seeking to recruit personnel, it may not be able to
hire qualified personnel in a timely manner, or at all.
Mr. Liu's health concerns and the loss of such
management employees are likely to materially adversely affect many aspects of
the Company's business, including its ability to maintain customer
relationships, meet production schedules, as well as maintain its internal
controls.
About China Sky One Medical, Inc.
China Sky One Medical, Inc., a Nevada corporation,
is a holding company. The Company engages in the manufacturing, marketing and
distribution of pharmaceutical, medicinal and diagnostic products. Through its
wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology
Company, Harbin First Bio-Engineering Company Limited, Heilongjiang Tianlong
Pharmaceutical, Inc. and Peng Lai Jin Chuang Pharmaceutical Company, the
Company manufactures and distributes over-the-counter pharmaceutical products,
which make up its major revenue source. For more information, visit
http://www.cski.com.cn.
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