8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 14, 2011

Tibet Pharmaceuticals, Inc.

(Exact name of registrant as specified in its charter)

British Virgin Islands	001-35038	Not Applicable
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

Room 1701, 17/F

90 Jaffe Rd.

Wanchai, Hong Kong

(Address of Principal Executive Office)

Registrant’s telephone number, including area code: (852) 9798 5569

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 4.01  Changes in Registrant’s Certifying Accountant.

Engagement of New Auditor

On a Form 8-K filed on September 12, 2011, Tibet Pharmaceuticals, Inc. (“Registrant”) announced that its independent certifying accountant for its two most recent fiscal years and subsequent interim period, Acquavella, Chiarelli, Shuster, Berkower & Co., LLP, resigned as its independent registered public accounting firm, effective September 6, 2011.

On October 14, 2011, the Registrant and Sherb & Co., LLP (“Sherb”) signed an engagement letter confirming that Sherb will act as Registrant’s independent registered public accounting firm to provide accounting services for the Registrant’s fiscal year ending December 31, 2011.  The appointment of Sherb was approved by the Audit Committee of the Registrant’s Board of Directors.

During the years ended December 31, 2009 and 2010 and through October 14, 2011, neither the Registrant nor anyone on its behalf consulted Sherb regarding (i) the application of accounting principles to a specific completed or contemplated transaction, (ii) the type of audit opinion that might be rendered on the Registrant’s financial statements, or (iii) any matter that was the subject of a disagreement or event identified in response to Item 304(a)(1) of Regulation S-K (there being none).

Item 9.01  Financial Statements and Exhibits.

(a) Financial statements of businesses acquired.

Not Applicable.

(b) Pro forma financial information.

Not Applicable.

(c) Shell company transactions.

Not Applicable.

(d) Exhibits.

99.1 Press Release dated October 18, 2011, titled “Tibet Pharmaceuticals Announces Appointment of Sherb & Co., LLP as New Independent Auditor.”

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	Tibet Pharmaceuticals, Inc.
Date: October 18, 2011	By:	/s/    Hong Yu
		Hong Yu
		Chief Executive Officer

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EXHIBIT INDEX

Number	Description of Exhibit
99.1	Press Release dated October 18, 2011, titled “Tibet Pharmaceuticals Announces Appointment of Sherb & Co., LLP as New Independent Auditor.”

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EX-99.1

Exhibit 99.1

Tibet Pharmaceuticals Announces Appointment of Sherb & Co., LLP as New Independent Auditor

Sherb & Co. to Commence its Work Immediately with the Review of the

Company's Upcoming Q3 2011 Financial Statements

SHANGRI-LA COUNTY, CHINA — October 18, 2011 — Tibet Pharmaceuticals, Inc. (NASDAQ: TBET), an emerging specialty pharmaceutical company engaged in the development, manufacturing and marketing of traditional Tibetan medicine in China, announced today that it has engaged Sherb & Co., LLP ("Sherb & Co.") as its new independent auditor. Sherb & Co. will commence its work immediately with the review of the Company's third quarter financial statements, which are to be included in the Company's upcoming form 10-Q.

The decision to engage Sherb & Co. as the Company's independent registered public accounting firm was approved by the Audit Committee of the Company's Board of Directors. Formal notification detailing this action was filed in a Form 8-K with the SEC.  Sherb & Co. is an SEC audit firm based in New York City that is registered with the Public Company Accounting Oversight Board (PCAOB) and provides a range of comprehensive accounting and auditing services to public companies in a full spectrum of industries.  Sherb & Co. maintains offices in New York City; Boca Raton, Florida; as well as Beijing, China.

Mr. Hong Yu, CEO and Chairman of Tibet Pharmaceuticals stated, "After an extensive search process, we are pleased to engage Sherb & Co. as our new auditor. The firm has wide experience working with U.S.-listed Chinese companies, as well as handling SEC rules and regulations for more than 90 publicly traded enterprises.  We believe Sherb & Co. offers Tibet Pharmaceuticals and our shareholders a strong combination of high quality services and extensive experience, and we look forward to working with them in the future."

The Company did not have any disagreements with its previous auditor, Acquavella, Chiarelli, Shuster, Berkower & Co., LLP, on any matter of accounting principles or practices, financial statement disclosures or auditing scope or procedure.

About Tibet Pharmaceuticals, Inc.

Based in Shangri-La County, Yunnan Province, China, Tibet Pharmaceuticals, Inc. (NASDAQ: TBET) is a rapidly growing specialty pharmaceutical company engaged in the research, development, manufacturing and marketing of modernized traditional Tibetan medicines in China. With over 190 employees and nation-wide distributors, the company develops both prescription and over-the-counter traditional Tibetan medicines that promote health in human respiratory, digestive, urinary and reproductive systems. Tibet Pharmaceuticals’ products are sold throughout China, with a majority of sales concentrated in the southern provinces, most notably Yunnan Province, where the company’s 52,000 sq. ft. GMP-certified manufacturing facilities are located.  The access to key raw materials, not generally available outside the province, provides a significant advantage for Tibet Pharmaceuticals.

For comprehensive investor relations material, including fact sheets, research reports, presentations and video, please follow the appropriate link: Research Report, Investor Portal and Overview Video.

For more information on Tibet Pharmaceuticals, please visit:

www.tibetpharmaceuticals.com

Forward-Looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. Specifically, references herein to contemplated growth in company revenues and/or earnings or expected company valuations are forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, changes in company valuations and investor perceptions of companies, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In particular, the company advises investors that the company commissioned the research report discussed in this press release. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Financial Communications Contact:

Trilogy Capital Partners - Asia

Darren Minton, President

Toll-free: 800-592-6067

info@trilogy-capital.com

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