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): ~~May~~September 166, 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) ~~(Zip Code)~~

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

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

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 5~~Item 4.01 Changes ~~CHANGE~~in INRegistrant’s ~~CONTROL~~Certifying ~~OF REGISTRANT~~Accountant.

InOn ~~anticipation~~September of6, ~~the resignation of Mr. Taylor Z. Guo as Chief Executive Officer (“CEO”) of Registrant and the appointment of Mr. Hong Yu as the Registrant’s new CEO~~2011, ~~Mr. Guo,~~ ~~Mr. Yu and eight other shareholders of~~ the Registrant ~~entered~~was ~~into~~notified ~~a “Voting Rights Revocation” agreement on May 16, 2011~~ by ~~which~~letter ~~they~~that ~~mutually~~its ~~agreed~~independent tocertifying ~~revoke~~accountant ~~and~~for ~~terminate a former March 30, 2010 “Voting Agreement” among them. The March 30, 2010 Voting Agreement had been entered into to facilitate~~ the Registrant’s ~~initial~~two ~~public~~most ~~offering,~~recent ~~and~~fiscal ~~had~~years ~~vested in Mr. Guo beneficial ownership of 38% of the then issued~~ and ~~outstanding~~ ~~shares~~subsequent ofinterim ~~Registrant~~period, ~~consisting of 150~~Acquavella,~~000~~ ~~shares he owned directly and 4~~Chiarelli,~~334,500~~ ~~shares of the eight other shareholders to which he held voting rights under the Voting Agreement. By reason of Voting Rights Revocation~~Shuster, ~~Mr. Guo~~Berkower ~~no longer~~& ~~holds voting rights to any shares other than the 150,000 shares he owns directly~~Co. ~~As Mr. Guo surrendered rather than acquired any controlling interest in Registrant~~, heLLP ~~paid no consideration and did not contribute any funds. Upon the effectiveness of the Voting Rights Revocation agreement~~(“ACSB”), ~~the~~resigned ~~principal~~as ~~shareholder of~~ the Registrant ~~and the only shareholder holding more than 5% of issued and outstanding shares is Mr. Yu, the chairman of its board of directors and its new CEO. Mr. Yu~~’s ~~ownership~~independent ~~interest~~registered ~~remains~~public ~~unchanged~~accounting ~~at 3~~firm,~~280,000~~ ~~shares.~~effective AsSeptember ~~is shown in the table below~~6, ~~as of the date of this filing, Mr~~2011. Yu isA ~~the~~copy ~~only shareholder~~ of ~~Registrant holding more than 5% of~~ the ~~issued~~resignation ~~and~~letter ~~outstanding shares~~is offiled ~~Registrant,~~as ~~with~~Exhibit 2216.1% ~~of its 14,845,834 issued and outstanding shares~~hereto.

Title ofclass		Name and address of beneficial owner		Amount and nature of beneficial ownership		Percent ofclass
Common		Hong Yu1		3,280,000			22.1	%.

Because ACSB resigned, neither the Registrant’s audit committee nor the board of directors recommended or approved the action. Instead, they learned of ACSB’s resignation on September 6, 2011.

1.The ~~Mr.~~principal Yuaccountant’s ~~address~~reports ~~is:~~of ~~Hong~~ACSB ~~Yu,~~on ~~c/o~~the ~~Tibet~~financial ~~Pharmaceuticals,~~statements ~~Inc.,~~of ~~Room~~the ~~1701,~~Registrant ~~17/F,~~as 90of ~~Jaffe~~and ~~Rd.~~for the years ended December 31, ~~Wanchai~~2009 and 2010 did not contain any adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, ~~Hong~~audit ~~Kong~~scope or accounting principles.

~~ITEM~~During ~~5.02~~the ~~DEPARTURE~~years OFended ~~DIRECTORS~~December 31, OR2009 ~~CERTAIN~~and ~~OFFICERS;~~2010 ~~ELECTION~~and OFthrough ~~DIRECTORS;~~September ~~APPOINTMENT~~6, OF2011, ~~CERTAIN~~there ~~OFFICERS;~~were ~~COMPENSATORY~~no ~~ARRANGEMENTS~~disagreements OFwith ~~CERTAIN~~ACSB ~~OFFICERS~~on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which if not resolved to ACSB’s satisfaction would have caused it to make reference thereto in connection with its reports on the financial statements for such periods.

~~(b)~~During Bythe ayears ~~written~~ended ~~“Termination~~December 31, ~~Agreement”~~2009 ~~dated~~and ~~June~~ 2010 and through September 6, 2011, ~~Mr. Taylor Z.~~there ~~Guo resigned~~were asno ~~the~~reportable ~~CEO~~events of the ~~Registrant~~type described in Item 304(a)(1)(v) of Regulation S-K. In particular, ~~and~~ACSB did not advise the Registrant ~~accepted~~(i) ~~Mr. Guo~~of any deficiencies in the Registrant’s ~~resignation.~~internal ~~Mr. Guo~~controls, (ii) of any inability to rely on management’s ~~separation~~representations, ~~from~~(iii) ~~the~~of ~~Registrant~~any ~~was~~need ~~not~~to expand the ~~result~~scope of ~~any~~ACSB’s ~~disagreement.~~audit, ~~Mr. Guo~~or ~~also~~(iv) ~~resigned~~of asany conclusion that materially impacts the ~~General~~fairness ~~Manager/CEO~~or reliability of ~~Registrant’s~~ ~~operating~~either ~~entity~~(a) ina ~~China,~~previously ~~Yunnan~~issued ~~Shangri-La~~audit ~~Tibetan~~report ~~Pharmaceutical~~or ~~Group~~the ~~Limited~~underlying financial statements or (~~“YSTP”~~b). ~~Mr. Guo~~the ~~continues~~financial tostatements ~~serve~~issued asor ato ~~director~~be ofissued covering the ~~Registrant.~~fiscal Aperiod(s) ~~translation~~subsequent to the date of the ~~Termination~~most ~~Agreement~~recent isfinancial ~~attached~~statements ascovered by an ~~exhibit~~ ~~hereto.~~audit report (including information that, unless resolved to ACSB’s satisfaction, would prevent it from rendering an unqualified audit report on those financial statements).

~~(c)~~The ~~By a written “Employment Agreement” dated June 6, 2011, the~~ Registrant ~~formally~~provided ~~retained Mr. Hong~~ACSB Yuwith toa ~~serve~~copy ~~as the CEO~~ of the ~~Registrant.~~foregoing ~~Mr. Yu~~disclosure ~~also~~and ~~assumed~~requested ~~the~~ACSB ~~duties~~to offurnish ~~the~~it ~~CEO~~with ofa ~~Registrant’s~~letter ~~operating~~addressed ~~entity,~~to ~~YSTP.~~the MrU. YuS. isSecurities ~~the founder of YSTP~~ and ~~the~~Exchange ~~largest~~Commission ~~shareholder~~stating ofwhether ~~Registrant;~~it heagrees ~~also~~with ~~has been serving and continues to serve as~~ the ~~chairman~~statements ofmade ~~the board of directors of both companies~~therein. ~~The~~A ~~Employment~~copy ~~Agreement provides that Mr. Yu’s duties as CEO~~ of ~~Registrant~~the ~~commenced on June 6~~letter, ~~2011~~dated ~~and,~~September ~~unless sooner terminated~~7, ~~shall remain in force for a period of three years~~2011, ~~and~~furnished ~~the~~by end of which the agreement would be renewed automatically for successive one-year terms unless either party gave 30-days prior written notice of expiration. The Employment Agreement further provides that he will be entitled to a base salary of $30ACSB,~~000,~~ ~~subject~~is tofiled ~~annual review~~ as ~~well~~Exhibit ~~as certain benefits, and also will be eligible for incentive bonuses~~16.2 Ato ~~translation~~this ofCurrent ~~the~~Report ~~Employment~~on ~~Agreement~~Form ~~is attached as an exhibit hereto~~8-K.

~~The~~As ~~assumption~~of bythe ~~Mr. Yu~~date of ~~the~~this ~~duties~~Current ofReport ~~CEO~~on ofForm 8-K, the Registrant ~~follows~~has ~~upon~~not ~~Mr. Guo’s~~yet ~~resignation~~engaged asa ~~CEO~~new independent certifying accountant. ~~The~~Upon ~~two individuals~~engagement ~~and~~of such independent certifying accountant, the Registrant ~~coordinated~~will file a Current Report on Form 8-K describing the ~~transition~~matters ~~through~~required Mrby Item 4. ~~Guo’s~~01(b) ~~Termination~~of ~~Agreement~~Form 8-K and ~~Mr. Yu’s~~described ~~Employment~~in ~~Agreement,~~Item ~~both~~304(a)(2) ~~effective~~of ~~June 6,~~Regulation ~~2011~~S-K.

~~Mr.~~Item Yu9.01 ~~does~~Financial ~~not~~Statements ~~have~~and ~~any family relationships with any other director of officer of Registrant, or any person nominated to become a director or executive officer of Registrant~~Exhibits.

In further response to this Item 5.02(c), Registrant incorporates by reference the “Management” and “Related Party Transactions” sections of the registration statement filed with the Commission on May 14, 2010, as amended (file no. 333-166854) (the “Registration Statement”) and the prospectus filed pursuant to Rule 424(b)(3) of the Securities Act of 1933 (the “Securities Act”) on January 11, 2011 (the “IPO Prospectus”), as well as the section entitled “Item 13. Certain Relationships and Related Transactions, and Director Independence” in Registrant’s Form 10K filed with the Commission on March 30, 2011 (file no. 001-35038).

ITEM 8.01 OTHER EVENTS

On June 10, 2011, the Registrant issued a press release announcing the assumption by Mr. Hong Yu as the duties of the Chief Executive Officer (“CEO”) of Registrant in addition to his duties as the chairman of the Registrant’s Board of Directors, and also announcing the resignation of Taylor Z. Guo as the CEO of Registrant.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(a) Financial statements of businesses acquired.

Not Applicable.

(b) Pro forma financial information.

Not Applicable.

(d) Exhibits.

10.01		Translation of Termination Agreement between Registrant and Taylor Z. Guo dated June 6, 2011.
16.1	Letter from ACSB dated September 6, 2011.
10.02		Translation of Employment Agreement between Registrant and Hong Yu dated June 6, 2011.
16.2	Letter from ACSB dated September 7, 2011.
99.01		Press Release of June 10, 2011: “Tibet Pharmaceuticals Announces New CEO.”
99.1	Press Release dated September 12, 2011 entitled “Tibet Pharmaceuticals Announces Search for New Auditor Upon Resignation of ACSB.”

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.	~~Tibet Pharmaceuticals, Inc.~~
Date: June 10, 2011		By:		/s/ Hong Yu
Date: September 12, 2011	By:		/s/ Hong Yu
			Hong Yu	~~Hong Yu~~
			Chief Executive Officer	~~Chief Executive Officer~~

EXHIBIT INDEX

Number		Description of Exhibit
10.01		Translation of Termination Agreement between Registrant and Taylor Z. Guo dated June 6, 2011.
16.1		Letter from ACSB dated September 6, 2011.
10.02		Translation of Employment Agreement between Registrant and Hong Yu dated June 6, 2011.
16.2		Letter from ACSB dated September 7, 2011.
99.01		Press Release of June 10, 2011: “Tibet Pharmaceuticals Announces New CEO.”
99.1		Press Release dated September 12, 2011 entitled “Tibet Pharmaceuticals Announces Search for New Auditor Upon Resignation of ACSB.”

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