Question-and-Answer Session
Operator
(Operator Instructions). Your first question comes from the line of Julie Chen with CRT Capital Group. Please proceed.
Julie Chen - CRT Capital Group
Thank you. Good morning Tony, Lily and Wilfred. I have three questions to start with, sorry about that.
Lily Li
Okay, excuse me, Julie. Good morning, first. Would you please speak a little louder, yes?
Julie Chen - CRT Capital Group
Sorry, is this better?
Lily Li
Okay, that's perfect. Thank you.
Julie Chen - CRT Capital Group
Thank you. In terms of acquisitions, I see that you have a refundable deposit that you talk about which is $16.4 million. Just a clarification; this a deposit for one acquisition, or this a deposit for the multiple in your pipeline that you mentioned?
Lily Li
(Interpreted) Actually, this is for more than one acquisition and, as we can see from the refundable deposit, AOBO is very aggressive in making further acquisitions.
Julie Chen - CRT Capital Group
Thank you. My second question is on the overall macro environment. SFDA has been reabsorbed under the Ministry of Health. The overall macro environment, as you have mentioned earlier Lily, is that the regulations are getting tighter. There is stricter monitoring by government for safety. Would this environment be much more benefit for AOB, not only just on the scale standpoint, but from drug approval standpoint?
From my understanding, CCXA and Boke has multiple drugs currently under approval process. With this re-absorption there's an indication that a pipeline is opening for approvals. Would this guide you down the road? Is that what we should be seeing in terms of trends of product extensions coming out of AOB?
Lily Li
(Interpreted). So, as you may understand and have an idea that now we are having the healthcare reform here in China. I think this is good news for AOBO. Actually, the policy lists are being reduced and also it's very good news for us in terms of the drug approval, and we certainly need a well regulated environment for the whole sector.
Julie Chen - CRT Capital Group
Thank you. My last question is just on overall strategy which also tightening to your first quarter results. Is there an overall the anticipation on the new pharmaceuticals as AOB continues to move on as a big top five pharma company in China?
Lily Li
(Interpreted). As you may know, Julie, and also other investors, I believe that the healthcare market here in China is indeed one of the most important highlighted spot in the whole world. And it is estimated that by the year 2010 China's healthcare market will be the fifth largest market in whole world and, by the year 2020, it will be the third largest market. So it is a very good timing for us to further pursue the strategy of being the top pharmaceutical company in China, and we will focus on the execution of such a strategy.
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