**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**Washington,
      D.C. 20549**














**[X]**  QUARTERLY
      REPORT UNDER SECTION 13 OR 15(d)


OF
      THE
      SECURITIES EXCHANGE ACT OF 1934:


For
      the quarterly period ended September 30, 2006





[
      ]  TRANSITION
      REPORT UNDER SECTION 13 OR 15(d)


OF
      THE
      SECURITIES EXCHANGE ACT OF1934:


For
      the
      transition period from______ to _______





**01-06914**


Commission
      File Number





**Worldwide
        Biotech & Pharmaceutical Company**
 (Name
        of
        small business issuer in its charter)


**Delaware**
            
            **59-0950777**(State
                or other jurisdiction of Incorporation)
            
            (IRS
                Employer Identification Number)


**4
                Fenghui South Road, 15thFloor, A10-11501**
            ******Jie
                Zuo Mansion, Xi’an, Shaanxi, P.R. China 710075**
            **86-29-88193339**(Address
                of principal executive offices)
            (Issuer’s
                telephone number)








Check
      whether the issuer (1) filed all reports required to be filed by Section 13
      or
      15(d) of the Exchange Act during the past 12 months (or for such shorter period
      that the registrant was required to file such reports), and (2) has been subject
      to such filing requirements for the past 90 days. Yes [X] No [ ]





The
      number of shares outstanding of each of the Issuer’s classes of common equity,
      as of the latest practicable date: As of November 10, 2006, there were
      42,515,653 shares of the common stock issued and outstanding.





Indicate
      by check mark whether the Registrant is a shell company (as defined in Rule
      12b-2 of the Securities Exchange Act of 1934) (check one): Yes [ 
]   No [X]





Transitional
      Small Business Disclosure Format (check one): Yes [   ]   No
      [X]





-1-


**PART
      I - FINANCIAL INFORMATION**





**Item
      1. Financial Statements**





WORLDWIDE
        BIOTECH & PARMACEUTICAL COMPANY AND SUBSIDIARIES
 CONSOLIDATED
        BALANCE SHEETS
 September
        30, 2006
 (Unaudited)
  ASSETSCURRENT
                  ASSETS:Cash
              
              $
              53,825Marketable
                  securities
              
              
              167,288Accounts
                  receivable, net of allowance for doubtful accounts of
              
              
              179,172Inventories
              
              
              399,923Prepayments
                  and
                  other current assets
              
              
              182,059Total
                  Current
                  Assets
              
              
              982,267PROPERTY
                  AND EQUIPMENT, net
              
              
              4,706,109LICENSES,
                  net
              
              
              480,095LAND
                  USE RIGHTS, net
              
              
              1,413,495Total
                  Assets
              
              $
              7,581,966LIABILITIES
                  AND STOCKHOLDERS' EQUITYCURRENT
                  LIABILITIES:Loans
                  payable
              
              $
              1,184,843Mortgages
                  payable
              
              
              31,789Note
                  payable - stockholder
              
              
              430,162Accounts
                  payable
              
              
              882,526Due
                  to
                  related parties
              
              
              2,253,519Other
                  current liabilities
              
              
              234,521Total
                  Current
                  Liabilities
              
              
              5,017,360MORTGAGES
                  PAYABLE, less current portion
              
              
              212,845NOTE
                  PAYABLE
              
              
              1,265,182MINORITY
                  INTEREST
              
              
              495,514Total
                  Liabilities
              
              
              6,990,901STOCKHOLDERS'
                  EQUITY:Common
                  stock ($.001 par value; 90,000,000 shares authorized;42,515,653
                  shares
                  issued and outstanding)
              
              
              42,516Additional
                  paid-in capital
              
              
              10,797,835Accumulated
                  deficit
              
              
              (9,509,998
              )Deferred
                  compensation
              
              
              (574,500
              )Accumulated
                  other comprehensive loss:Change
                  in unrealized loss on marketable securities
              
              
              (220,153
              )Foreign
                  currency translation gain
              
              
              55,365Total
                  Stockholders'
                  Equity
              
              
              591,065Total
                  Liabilities
                  and Stockholders' Equity
              
              $
              7,581,966
 See
        notes
        to consolidated financial statements.




-2-




WORLDWIDE
        BIOTECH & PHARMACEUTICAL COMPANY AND SUBSIDIARIES
 CONSOLIDATED
        STATEMENTS OF OPERATIONS
 (Unaudited)
  **For
                  The Three Months Ended**
              ****
              ****
              **For
                  The Nine Months Ended**
              ********
              ****
              **September
                  30,**
              ****
              ****
              **September
                  30,**
              ********
              ****
              ****
              **2006**
              ****
              ****
              **2005**
              ****
              ****
              **2006**
              ****
              ****
              **2005**NET
                  REVENUES
              
              $
              126,428
              
              $
              -
              
              $
              329,061
              
              $
              -COST
                  OF GOODS SOLD
              
              
              118,392
              
              
              -
              
              
              302,483
              
              
              -GROSS
                  PROFIT
              
              
              8,036
              
              
              -
              
              
              26,578
              
              
              -OPERATING
                  EXPENSES:Selling
                  expenses
              
              
              7,276
              
              
              -
              
              
              54,140
              
              
              -Research
                  and
                  development
              
              
              3,680
              
              
              14,268
              
              
              33,008
              
              
              69,343Professional
                  fees
              
              
              43,629
              
              
              51,985
              
              
              145,378
              
              
              119,453Stock-based
                  compensation
              
              
              199,500
              
              
              349,500
              
              
              798,500
              
              
              2,825,128General
                  and administrative
              
              
              171,481
              
              
              129,417
              
              
              533,175
              
              
              298,048Total
                  Operating
                  Expenses
              
              
              425,566
              
              
              545,170
              
              
              1,564,201
              
              
              3,311,972LOSS
                  FROM OPERATIONS
              
              
              (417,530
              )
              
              (545,170
              )
              
              (1,537,623
              )
              
              (3,311,972
              )OTHER
                  INCOME (EXPENSE):Interest
                  income
              
              
              50
              
              
              68
              
              
              167
              
              
              2,877Interest
                  expense
              
              
              (58,883
              )
              
              (42,562
              )
              
              (200,801
              )
              
              (109,265
              )Other
                  income (expense)
              
              
              (2,877
              )
              
              1,062
              
              
              11,795
              
              
              44,853Realized
                  gain
                  on sale of marketable securities
              
              
              18,001
              
              
              -
              
              
              18,001
              
              
              -Total
                  Other Income
                  (Expenses)
              
              
              (43,709
              )
              
              (41,432
              )
              
              (170,838
              )
              
              (61,535
              )LOSS
                  BEFORE MINORITY INTEREST
              
              
              (461,239
              )
              
              (586,602
              )
              
              (1,708,461
              )
              
              (3,373,507
              )MINORITY
                  INTEREST
              
              
              (45,530
              )
              
              -
              
              
              (181,372
              )
              
              -NET
                  LOSS
              
              
              (415,709
              )
              
              (586,602
              )
              
              (1,527,089
              )
              
              (3,373,507
              )OTHER
                  COMPREHENSIVE INCOMEChange
                  in unrealized gain on marketable securities
              
              
              (59,826
              )
              
              5,658
              
              
              217,593
              
              
              (84,902
              )Foreign
                  currency translation gain
              
              
              10,569
              
              
              37,179
              
              
              25,008
              
              
              37,179COMPREHENSIVE
                  LOSS
              
              $
              (464,966
              )
              $
              (543,765
              )
              $
              (1,284,488
              )
              $
              (3,421,230
              )NET
                  LOSS PER COMMON SHARE - BASIC AND DILUTED:Net
                  loss per common share
              
              $
              (0.01
              )
              $
              (0.01
              )
              $
              (0.04
              )
              $
              (0.09
              )Weighted
                  Common
                  Shares Outstanding - basic and diluted
              
              
              40,709,281
              
              
              39,634,880
              
              
              40,427,236
              
              
              37,563,028


See
        notes
        to consolidated financial statements.




-3-




WORLDWIDE
        BIOTECH AND PHARMACEUTICAL COMPANY AND SUBSIDIARIES


CONSOLIDATED
        STATEMENTS OF CASH FLOWS
 (Unaudited)
  **For
                  The Nine Months Ended******
              
              **September
                  30,******
              
              **2006**
              
              **2005**CASH
                  FLOWS FROM OPERATING ACTIVITIES:Net
                  loss
              
              $
              (1,527,089
              )
              $
              (3,373,507
              )Adjustments
                  to reconcile net loss to net cash used inoperating
                  activities:Depreciation
                  and amortization
              
              
              248,410
              
              
              52,795Stock-based
                  compensation
              
              
              798,500
              
              
              2,825,128Minority
                  interest
              
              
              (181,372
              )
              
              -Changes
                  in assets and liabilities:Accounts
                  receivable
              
              
              (34,055
              )
              
              -Inventories
              
              
              (35,191
              )
              
              -Prepayments
                  and other current assets
              
              
              (26,578
              )
              
              (750,072
              )Accounts
                  payable
              
              
              (108,626
              )
              
              175,175Other
                  current liabilities
              
              
              21,849
              
              
              61,550NET
                  CASH USED IN OPERATING ACTIVITIES
              
              
              (844,152
              )
              
              (1,008,931
              )CASH
                  FLOWS FROM INVESTING ACTIVITIES:Acquisition
                  of Hua Yang
              
              
              1,342
              
              
              -Acquisition
                  of Ze An
              
              
              (417,563
              )
              
              -Proceeds
                  from sales of marketable securities
              
              
              293,018
              
              
              -Purchases
                  of property and equipment
              
              
              (15,708
              )
              
              (292,190
              )NET
                  CASH USED IN INVESTING ACTIVITIES
              
              
              (138,911
              )
              
              (292,190
              )CASH
                  FLOWS FROM FINANCING ACTIVITIES:Proceeds
                  from loans payable
              
              
              607,287
              
              
              -Payments
                  on loan payable
              
              
              (948,887
              )
              
              (7,851
              )Proceeds
                  from note payable - stockholder
              
              
              430,162
              
              
              -Payments
                  on mortgages payable
              
              
              (28,986
              )
              
              (25,244
              )Proceeds
                  from related parties
              
              
              891,609
              
              
              394,856NET
                  CASH PROVIDED BY FINANCING ACTIVITIES
              
              
              951,185
              
              
              361,761EFFECT
                  OF EXCHANGE RATE CHANGES ON CASH
              
              
              (8,867
              )
              
              25,694NET
                  DECREASE IN CASH
              
              
              (40,745
              )
              
              (913,666
              )CASH
                  at beginning of period
              
              
              94,570
              
              
              1,047,675CASH
                  at end of period
              
              $
              53,825
              
              $
              134,009SUPPLEMENTAL
                  DISCLOSURE OF CASH FLOW INFORMATION:Interest
                  paid
              
              $
              200,801
              
              $
              109,265
  See
        notes
        to consolidated financial statements.


-4-







WORLDWIDE
      BIOTECH & PHARMACEUTICAL COMPANY AND SUBSIDIARIES


NOTES
      TO
      FINANCIAL STATEMENTS


September
      30, 2006


(UNAUDITED)





**NOTE
      1 - ORGANIZATION AND OPERATIONS**





Worldwide
      Biotech & Pharmaceuticals Company, (the “Company” or “Worldwide”) was
      incorporated in Delaware in 1961. In the forth quarter of 2005, the Company
      commenced revenue producing operations.





On
      April
      20, 2004, as amended on August 3, 2004 and effective December 16, 2004, under
      an
      Agreement and Plan of Reorganization, the Company issued 33,600,000 shares
      of
      the Company's common stock for the acquisition of all of the outstanding capital
      stock of Yangling Daiying Biological Engineering Co., Ltd. (“Daiying”), a
      company incorporated in November 2001 in Shaanxi Province, China. For financial
      accounting purposes, the exchange of stock will be treated as a recapitalization
      of Worldwide with the former shareholders of the Company retaining 1,057,102
      or
      approximately 5% of the outstanding stock.





Additionally,
      as part of the Merger, the Company, whose former name was Sun City Industries,
      Inc., amended its Articles of Incorporation, and changed its name to Worldwide
      Biotech & Pharmaceuticals Company.





Daiying
      is a high-tech biopharmaceutical company that specializes in the development
      and
      marketing of viruses/viral vectors, external diagnostic reagents, prophylactic
      vaccines for humans, and oral solid dosage forms of traditional Chinese
      medicine.





On
      March
      7, 2005, Daiying formed Shaanxi Daiying Medicine Distribution Co., Ltd.
      (“Shaanxi”) with a stockholder of the Company, in which Daiying holds a 90%
      interest. The stockholder’s contribution for its 10% interest was RMB500,000
      (Equivalent to US$61,956 at December 31, 2005), which has been reduced by its
      proportional share of Shaanxi’s loss for the current period.





On
      July
      26, 2005, Glory Dragon Investments Ltd. (“Glory Dragon”), an international
      business company, was formed in the British Virgin Islands by the
      Company.





Glory
      Dragon then established a wholly-owned foreign investment company in the Peoples
      Republic of China (PRC) known as Shaanxi Allied Shine International Investment
      Management Consulting Ltd. (“Shaanxi Allied”) on December 27, 2005. Worldwide
      transferred all of its shares in Daiying to Shaanxi Allied on December 27,
      2005.




On
      January 19, 2006, Worldwide by and through its wholly owned subsidiary, Yangling
      Daiying Biological Engineering Co., Ltd. (“Daiying”), entered into a
      Reorganization Agreement with Hunan Hua Yang Pharmaceutical Co. Ltd. (“Hua
      Yang”) and its shareholders. Pursuant to this agreement, the Company issued
      482,800 shares of its common stock to the shareholders of Hua Yang to acquire
      51%. Hua Yang incorporated on June 22, 1999 in Hunan Province, China, engages
      in
      developing, manufacturing and marketing of synthetic chemical medicine,
      antibiotics, immune vaccine and nutrient supplements.





Also
      on
      January 19, 2006, Daiying entered into a Reorganization Agreement with Hunan
      Ze
      An Pharmaceutical Co. Ltd. (“Ze An”) and its shareholders. Daiying paid Reminbi
      (“RMB”) 3,400,000 (Equivalent to US $430,162 at September 30, 2006) and 217,600
      shares of common stock of Worldwide for 65% of Ze An. Ze An was incorporated
      in
      February 2000 in Hunan Province, China, engages in developing, manufacturing
      and
      marketing essential traditional Chinese medicine, 100 percent organic herbal
      medicine, and neutraceutical products.





**NOTE
      2 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING
      POLICIES**





**Basis
      of Presentation**





The
      accompanying unaudited consolidated financial statements have been prepared
      in
      accordance with generally accepted accounting principles for interim financial
      information and with the instructions to Form 10-QSB and Item 310(b) of
      Regulation S-B. Accordingly, the financial statements do not include all of
      the
      information and footnotes required by generally accepted accounting principles
      for complete financial statements. In the opinion of management, all adjustments
      considered necessary for a fair presentation have been included and such
      adjustments are of a normal recurring nature. These consolidated financial
      statements should be read in conjunction with the financial statements for
      the
      year ended December 31, 2005 and notes thereto contained in the Report on Form
      10-KSB of Worldwide Biotech & Pharmaceutical Company (the “Company” or
“Worldwide”) as filed with the Securities and Exchange Commission (the
“Commission”). The results of operations for the nine months ended September 30,
      2006 are not necessarily indicative of the results for the full fiscal year
      ending December 31, 2006.





The
      consolidated statements include all the accounts of Worldwide Biotech &
Pharmaceutical Company and its wholly-owned and majority-owned subsidiaries.
      All
      significant intercompany balances and transactions have been
      eliminated.





Operations
      of the acquired companies have been included in the Company’s operations from
      the date of the acquisitions.





-5-





**Revenue
      recognition**





In
      general, the Company records revenue when persuasive evidence of an arrangement
      exists, services have been rendered or product delivery has occurred, the sales
      price to the customer is fixed or determinable, and the likelihood of collection
      is reasonably assured. Persuasive evidence of an arrangement is demonstrated
      via
      invoice, our customer; product delivery is evidenced by the warehouse shipping
      log as well as signed bill of lading from the trucking company and no product
      return is allowed except defective or damaged products; the sales price to
      the
      customer is fixed upon acceptance of purchase order; and there are no separate
      sales rebates, discounts, or volume incentives. The
      Company manufactures and distributes traditional Chinese medicine, including
      drink tablets, synthetic medicine, antibiotics, biotech medicine and biotech
      reagents; wholesale Class II medical devices, Class III medical devices,
      including but not limited to, medical sewing materials and bond, medical high
      molecular materials and products, and disposable sterile medical devices.
      T he
      majority of the Company's revenue derives from sales contracts with
      distributors. The
      Company sells certain products to certain customers on consignment. The Company
      records revenue for consignment transactions when the consignee sells the
      product to the end user .





**NOTE
      3 -**  **ACQUISITIONS**





**Pro
      Forma Results**




The
      following unaudited pro forma financial information presents the combined
      results of operations of the Company, Hua Yang and Ze An for the three months
      and nine months ended September 30, 2005, as if the acquisitions had occurred
      on
      January 1, 2005. The unaudited pro forma financial information is not intended
      to represent or be indicative of the Company’s consolidated results of
      operations that would have been reported had the acquisitions been completed
      on
      January 1, 2005 and should not be taken as indicative of the Company’s future
      consolidated results of operations. The unaudited pro forma financial
      information for the nine months ended September 30, 2006 is not presented
      because the results would be immaterially different that what is currently
      reported.




**For
                The Three Months Ended September 30, 2005**
            ****
            ****
            **For
                The Nine Months Ended September 30, 2005**Revenues
            
            $
            89,348
            
            $
            309,931Net
                loss
            
            $
            (660,663
            )
            $
            (3,568,374
            )Basic
                loss per share
            
            $
            (0.02
            )
            $
            (0.09
            )







**NOTE
      4 - INVENTORIES**





Inventories
      at September 30, 2006, consisted of the following:





Raw
                materials
            
            $
            113,455Work
                in progress
            
            
            52,414Finished
                goods
            
            
            234,054$
            399,923






-6-






**NOTE
      5 - RELATED PARTY TRANSACTIONS**





**Due
      to related parties**





The
      chief
      executive officer and a shareholder, from time to time, provided advances to
      the
      Company for operating expenses. These advances are short-term in nature and
      non-interest bearing, payable upon request. The amount due to these related
      parties at September 30, 2006 was $2,253,519.





**NOTE
      6 - STOCKHOLDERS’ EQUITY**





Common
      stock





On
      December 14, 2004, in connection with a consulting agreement with Coast to
      Coast
      Equity Group, Inc. (Coast to Coast), the Company granted a warrant to purchase
      3,000,000 shares of common stock as follows: 500,000 exercisable at an exercise
      price of $0.75 per share within 4 months of the effective date of the
      registration statement on Form SB-2; 800,000 at $1.50 per share within 6 months
      of the same date; 900,000 at $2.50 per share within 9 months of the same date,
      and 800,000 at $3.50 per share within 12 months of the same date. The fair
      value
      of this warrant grant was estimated on the date of grant using the Black-Scholes
      option-pricing model with the following weighted-average assumptions dividend
      yield of zero percent; expected volatility of 112 percent; risk-free interest
      rate of 4.50 percent per annum and an expected holding periods ranging from
      4
      months to one year.





Since
      these warrants are earned over the term of the agreement and are subject to
      forfeiture, the Company has accounted for these under variable accounting method
      pursuant to EITF 96-18. Accordingly, the Company recorded at fair value the
      calculated value of the warrants earned at the end of each period until the
      warrants are earned. On April 4, 2005, the Company settled with the consultant
      and the warrants were deemed earned. For the year ended December 31, 2005,
      the
      Company recognized additional stock based compensation and additional paid
      in
      capital of $799,295 respectively. On March 31, 2006 since a Registration
      Statement on Form SB-2 (Registration Statement) was not filed Coast to Coast
      commenced litigation.





On
      September 7, 2006 the parties reached a settlement with the Company issuing
      to
      Coast to Coast 2,158,151 shares of common stock. The Company recorded Common
      stock at par value since the warrants were previously valued at the date of
      issuance.




**Item
      2. Management’s Discussion and Analysis or Plan of
      Operation**





The
      following analysis of the Company’s results of operations and financial
      condition should be read in conjunction with the financial statements of
      Worldwide Biotech & Pharmaceutical Company for the year ended December 31,
      2005 and notes thereto contained in Report on Form 10-KSB of Worldwide Biotech
      & Pharmaceutical Company as filed with the Securities and Exchange
      Commission.





This
      report on Form 10-QSB contains certain forward-looking statements including,
      among others, anticipated trends in our financial condition and results of
      operations and our business strategy. These forward-looking statements are
      based
      largely on our current expectations and are subject to a number of risks and
      uncertainties. Actual results could differ materially from these forward-looking
      statements. Important factors to consider in evaluating such forward-looking
      statements include (i) changes in external factors or in our internal budgeting
      process which might impact trends in our results of operations; (ii)
      unanticipated working capital or other cash requirements; (iii) changes in
      our
      business strategy or an inability to execute our strategy due to unanticipated
      changes in the industries in which we operate; and (iv) various competitive
      market factors that may prevent us from competing successfully in the
      marketplace.





**Critical
      Accounting Policies**





A
      summary
      of significant accounting policies is included in Note 2 to the audited
      financial statements included in Form 10-KSB as filed with the Securities and
      Exchange Commission for the year ended December 31, 2005. Management believes
      that the application of these policies on a consistent basis enables us to
      provide useful and reliable financial information about the company's operating
      results and financial condition.





The
      discussion and analysis of our financial condition and results of operations
      are
      based upon our consolidated financial statements, which have been prepared
      in
      accordance with accounting principles generally accepted in the United States.
      The preparation of these consolidated financial statements requires us to make
      estimates and judgments that affect the reported amounts of assets, liabilities,
      revenues and expenses, and related disclosure of contingent assets and
      liabilities. On an on-going basis, we evaluate our estimates based on historical
      experience and on various other assumptions that are believed to be reasonable
      under the circumstances, the results of which form the basis for making
      judgments about the carrying values of assets and liabilities that are not
      readily apparent from other sources. Actual results may differ from these
      estimates under different assumptions or conditions.






-7-






**Results
      of Operations**





The
      Company is a high-tech biopharmaceutical company that specializes in the
      development and potential marketing of viruses/viral vectors, bio-medicines,
      external diagnostic reagents, prophylactic vaccines for humans, and oral dosage
      forms of traditional Chinese medicine. The principal products include Hepatitis
      C virus produced in vitro, ELISA kits for HCV antibody detection, Rapid Test
      (Colloid Gold Method), Oral dosage forms of traditional Chinese medicine
      healthcare products and medical devices distributed for other
      companies.




The
      Company established its drug-screening assay based on its in vitro cell culture
      system, and initiated drug screening for anti-HCV therapeutics and commenced
      revenue producing operations through its majority owned subsidiary, Shaanxi
      Daiying Medicine Distribution Co., Ltd. (“Shaanxi”) in the fourth quarter of
      2005.





Shaanxi
      distributes traditional Chinese medicine including drink tablets, synthetic
      medicine, antibiotics, biotech medicine and biotech reagents, wholesale Class
      II
      medical devices, Class III medical devices, including but not limited to,
      medical sewing materials and bond, medical high molecular materials and
      products, and disposable sterile medical devices.





The
      Company obtained SFDA approvals for three of its oral traditional Chinese
      medicines, including a liver-care medicine, an anti-cold medicine and a
      cough-suppressant prior to year end of 2005. The production and sales for these
      products commenced during the first quarter of 2006.





The
      Company through Daiying acquired Hunan Hua Yang Pharmaceutical Co., Ltd. (Hua
      Yang) and Hunan Ze An Pharmaceutical Co., Ltd. (Ze An) on January 19, 2006.
      Hua
      Yang currently holds 23 medicines with National Drug Production Licenses and
      5
      nutrient supplements with National Food Production Licenses. Daiying controls
      51% of the total shares of Hua Yang. Ze An currently holds 5 product lines,
      10
      medicines with National Drug Production Licenses and 1 nutrient supplement
      with
      a National Food Production License. Daiying controls 65% of the total shares
      of
      Ze An.




In
      2005,
      t he
      Company entered into a sole distribution agreement with TARAMEDIC CORPORATION
      BHD, a Malaysian company, to distribute its Tara KLamp® Disposable Circumcision
      Device. TARAMEDIC owns patents both in Malaysia and China. The Company obtained
      the regulation approval for this product from Chinese SFDA on January 26, 2006
      and sales have commenced.





The
      following analysis shows the selected unaudited consolidated statement of
      operations data of the Company for the nine month period ended September 30,
      2006 and September 30, 2005. The data should be read in conjunction with the
      unaudited consolidated financial statements of the Company for the nine month
      period ended September 30, 2006 and September 30, 2005 and related notes
      thereto.




**Results
      of operations for the nine months ended September 30, 2006 as compared to the
      nine months ended September 30, 2005**





The
      Company was a development stage company through September 30, 2005 and had
      no
      revenues, cost of goods sold or gross profit.





**Revenues**





For
      the
      nine months ended September 30, 2006, our revenues were $329,061. The revenues
      arose from the Company’s establishment of its drug-screening assay (based on its
      in vitro cell culture system), and initiated drug screening for anti-HCV
      therapeutics, to an increased marketing effort, to the gradual acceptance of
      Shaanxi distribution network and to revenues generated from Hua Yang and Ze
      An,
      majority owned subsidiaries the Company acquired on January 19, 2006.





**Cost
      of Goods Sold and Gross Profit**





For
      the
      nine months ended September 30, 2006, cost of goods sold amounted to $302,483.
      Gross profit for the nine months ended September 30, 2006 was $26,578 or 8.1%
      of
      revenues.






-8-






**Operating
      Expenses**





For
      the
      nine months ended September 30, 2006, total operating expenses were $1,564,201
      as compared to $3,311,972 for the nine months ended September 30, 2005, a
      decrease of $1,747,771, or approximately 52.8%.





Included
      in this decrease was:





·
            For
                the nine months ended September 30, 2006, we incurred selling expense
                of
                $54,140 compared to $0 for the nine months ended September 30, 2005.
                The
                increase was due to an increased marketing effort of Shaanxi and
                selling
                activities from Hua Yang and Ze An, majority owned subsidiaries the
                Company acquired on January 19,
                2006.


·
            For
                the nine months ended September 30, 2006, we incurred research and
                development expense of $33,008 compared to $69,343 for the nine months
                ended September 30, 2005, a decrease of $36,335 or 52.4%. The decrease
                was
                due to regulatory approval of certain major products of the
                Company.


·
            For
                the nine months ended September 30, 2006, we incurred professional
                fees of
                $145,378 as compared to $119,453 for the nine months ended September
                30,
                2005, an increase of $25,925, or 21.7%. The increase was due to an
                increase in amounts paid to various consultants and professionals
                related
                to our patents, related legal matters and business acquisitions.


·
            Stock-based
                compensation decreased to $798,500 for the nine months ended September
                30,
                2006 from $2,825,128 for the nine months ended September 30, 2005.
                The
                decrease in stock-based compensation expense was attributable to
                the
                reduction of amortization of deferred compensation.


·
            For
                the nine months ended September 30, 2006, general and administrative
                expenses were $533,175 as compared to $298,048 for the nine months
                ended
                September 30, 2005, an increase of $235,127, or approximately 78.9%.
                In
                the 2006 period, we incurred additional marketing fees, travel-related
                expenses and other administrative expenses due to the acquisition
                of two
                pharmaceutical companies, Ze An and Hua
                Yang.





For
      the
      nine months ended September 30, 2006, interest expense was $200,801 as compared
      to $109,265 for the nine months ended September 30, 2005 and was related to
      an
      increase in borrowings. For the nine months ended September 30, 2006, other
      income was $11,795 as compared to $44,853 for the nine months ended September
      30, 2005.





For
      the
      nine months ended September 30, 2006, the Company realized a gain on sale of
      marketable securities of $18,001 compared to $0 for the same period in
      2005.





For
      the
      nine months ended September 30, 2006, the minority interest portion of
      non-wholly owned subsidiary losses was ($181,372) as compared to $0 for the
      nine
      months ended September 30, 2005.





As
      a
      result of these factors, The Company reported a net loss of $1,527,089 or $0.04
      per share for the nine months ended September 30, 2006, as compared to a net
      loss of $3,421,230 or $0.09 per share for the same period in 2005.





**Results
      of Operations for the three months ended September 30, 2006 compared to the
      three months ended September 30, 2005**





The
      Company was a development stage company through September 30, 2005 and had
      no
      revenues, cost of goods sold or gross profit.





**Revenues**





For
      the
      three months ended September 30, 2006, our revenues were $126,428. The
      realization of net revenues relates to a number of factors, including the
      Company’s establishment of its drug-screening assay (based on its in vitro cell
      culture system),to initiated drug screening for anti-HCV therapeutics, to
      Worldwide’s marketing effort, to the gradual acceptance of Shaanxi distribution
      network and to revenues generated from Hua Yang and Ze An, majority owned
      subsidiaries the Company acquired on January 19, 2006.





**Cost
      of Goods Sold and Gross Profit**





For
      the
      three months ended September 30, 2006, cost of goods sold amounted to $118,392.
      Gross profit for the three months ended September 30, 2006 was $8,036, or 6.3%
      of revenues.








-9-






**Operating
      Expenses**





For
      the
      three months ended September 30, 2006, total operating expenses were $425,566
      as
      compared to $545,170 for the three months ended September 30, 2005, a decrease
      of $119,604, or approximately 21.9%.





Included
      in this decrease was:





·
            For
                the three months ended September 30, 2006, we incurred selling expense
                of
                $7,276 compared to $0 for the three months ended September 30, 2005.
                The
                increase was due to an increased marketing effort of Shaanxi and
                selling
                activities from Hua Yang and Ze An, majority owned subsidiaries the
                Company acquired on January 19,
                2006.


·
            For
                the three months ended September 30, 2006, we incurred research and
                development expense of $3,680 compared to $14,268 for the three months
                ended September 30, 2005, a decrease of $10,588, or
                74.2%.


·
            For
                the three months ended September 30, 2006, we incurred professional
                fees
                of $43,629 compared to $51,985 for the three months ended September
                30,
                2005, a decrease of $8,356, or 16.1%.


·
            Stock-based
                compensation expense decreased to $199,500 for the three months ended
                September 30, 2006 from $349,500 for the three months ended September
                30,
                2005. The decrease in stock-based compensation expense ($150,000
                or 42.9%)
                was attributable to the reduction of amortization of deferred
                compensation.


·
            For
                the three months ended September 30, 2006, general and administrative
                expenses were $171,481 compared to $129,417 for the three months
                ended
                September 30, 2005, an increase of $42,064, or approximately
                32.5%





For
      the
      three months ended September 30, 2006, interest expense was $58,883 compared
      to
      $42,562 for the three months ended September 30, 2005 and was related to an
      increase in borrowings. For the three months ended September 30, 2006, other
      income/(expense) was ($2,877) compared to $1,062 for the three months ended
      September 30, 2005.





For
      the
      three months ended September 30, 2006, the minority interest portion of
      non-wholly owned subsidiary losses was ($45,530) as compared to $0 for the
      three
      months ended September 30, 2005.





As
      a
      result of these factors, The Company reported a net loss of $415,709 or $0.01
      per share for the three months ended September 30, 2006, as compared to a net
      loss of $586,602 or $0.01 per share for the same period in 2005.




**LIQUIDITY
      AND CAPITAL RESOURCES**





At
      September 30, 2006, we had cash of $53,825.





Net
      cash
      used in operating activities for the nine months ended September 30, 2006 was
      $844,152 as compared to net cash used in operating activities of $1,008,931
      for
      the nine months ended September 30, 2005. For the nine months ended September
      30, 2006, we used cash to fund our loss of $1,527,089 and to fund accounts


receivable
      of $34,055, inventories of $35,191, accounts payable and accrued expenses of
      $108,626, and prepayments and other current assets of $26,578, and by the
      minority interest portion of non-wholly owned subsidiary losses, offset by
      non-cash items such as depreciation and amortization of $248,410, stock-based
      compensation of $798,500 and an increase in other current liabilities of
      $21,849. For the nine months ended September 30, 2005, we used cash to fund
      our
      loss of $3,373,507 and to fund prepayments and other current assets of $750,072.
      Offsetting these cash outflows were increases in accounts payable of $175,175,
      non-cash items such as depreciation and amortization of $52,795, stock-based
      compensation of $2,825,128, and increases in other current liabilities of
      $61,550.





Net
      cash
      used in investing activities for the nine months ended September 30, 2006 was
      $138,911 as compared to net cash used in investing activities for the nine
      months ended September 30, 2005 of $292,190. For the nine months ended September
      30, 2006, we used cash of $417,563 for Ze An acquisition, received cash of
      $1,342 from Hua Yang acquisition, and used cash for capital expenditures of
      $15,708. For the nine months ended September, 2005, we used cash for capital
      expenditures of $292,190.




Net
      cash
      provided by financing activities for the nine months ended September 30, 2006
      was $951,185 as compared to net cash provided by financing activities for the
      nine months ended September 30, 2005 of $361,761. For the nine months ended
      September 30, 2006, the Company received net proceeds of $607,287 from the
      proceeds of a loan, $430,162 from a stockholder in the form of note payable
      and
      $891,609 from stockholders/officers. These were offset by the repayment of
      mortgages payable of $28,986 and payments on loans payable of $948,887. For
      the
      nine months ended September 30, 2005, the Company received $394,856 from
      stockholders/officers, offset by the repayment of mortgages payable of $25,244
      and loan payable of $7,851.




The
      Company currently has no material commitments for capital
      expenditures.




We
      are
      not aware of any known trends, events or uncertainties that have, or are
      reasonably likely to have, material impact on the Company’s short-term or
      long-term liquidity. We have no source of liquidity from operations at the
      present time. However, we might pursue increasing liquidity through the
      registration of various shares of stock on a registration statement to be filed
      with the Securities & Exchange Commission. We are in need of additional
      funds to meet various anticipated capital expenditures which include research
      and development for a drug-screening system for anti-HCV drugs and HCV vaccines,
      production of products for release into the market, mergers of companies that
      would align the Company’s business plans, and various funds to market our
      technology and products to create interest in the market place




There
      are
      a number of trends, ventures, and uncertainties that are reasonably expected
      to
      have a material impact on the net revenues or income from operations. We will
      be
      unable to pursue continued research, development, production, and marketing
      of
      our product line in the event the Company is unable to raise sufficient funds
      to
      meet these expenses. There is no assurance that we will be able to raise
      sufficient funds to meet these goals. Further, we are not fully protected in
      all
      of our intellectual property rights and failure to do so may allow others to
      infringe upon the patent.





Currently,
      the Peoples Republic of China (“PRC”) is in a period of growth and is constantly
      promoting business development in order to bring more business into China.
      Additionally, a Chinese corporation can be owned by a United States corporation,
      however, the laws and regulations of China are subject to change and in the
      event said change occurs, it may affect the ability of Company to operate in
      the
      Peoples Republic of China.





The
      Company’s future success depends on the continued services of its executive
      management currently in place. The loss of any of their services could be
      detrimental to the Company and could have an adverse affect on business
      development. Future success is also dependent on the ability to identify, hire,
      train, or retain other qualified employees. Competition for these individuals
      is
      intense and increasing.






-10-






**Going
      Concern**





The
      report from our independent registered public accounting firm on our audited
      financial statements at December 31, 2005 contains an explanatory paragraph
      regarding doubt as to our ability to continue as a going concern. While a
      significant portion of our net loss for fiscal 2005 is non-cash, we do not
      presently generate sufficient revenue to fund our operations. The Company's
      limited financial resources have prevented it from aggressively advertising
      or
      developing its product to achieve consumer recognition. In order to sustain
      our
      current operations and satisfy our current obligations, as well as to increase
      sales of our products and services, we will require funds for working capital.





To
      that
      end, an unsecured loan payable in the amount of RMB 4.5 million (Equivalent
      to
      US $569,332 at September 30, 2006) to a financial institution, guaranteed by
      an
      independent third party, with interest at 7.254% per annum payable monthly,
      with
      principal due October 26, 2006 is currently past due and the Company is actively
      negotiating with the financial institution to renew the loan. However, there
      is
      the risk that the financial institution may not renew the loan and in this
      event
      the Company could face difficult liquidity problems.





The
      consolidated financial statements do not include any adjustments that might
      be
      necessary if the Company is unable to continue as a going concern. Management
      believes that the actions presently being taken to further implement its
      business plan and generate revenues provide the opportunity for the Company
      to
      continue as a going concern.





**Off
      Balance Sheet Arrangements**





The
      Company has no off balance sheet arrangements for the period ending September
      30, 2006.




**Impact
      of Recently Issued Accounting Pronouncements**





Management
      does not believe that any other recently issued, but not yet effective
      accounting pronouncements, if adopted, would have a material effect on the
      accompanying consolidated financial statements.





**Item
      3. Controls and Procedures**





Our
      Chief
      Executive Officer and Chief Financial Officer (collectively, the "Certifying
      Officers") are responsible for establishing and maintaining disclosure controls
      and procedures for the Company. Based upon such officers' evaluation of these
      controls and procedures as of a date as of the end of the period covered by
      this
      Quarterly Report, and subject to the limitations noted hereinafter, the
      Certifying Officers have concluded that our disclosure controls and procedures
      are effective to ensure that information required to be disclosed by us in
      this
      Quarterly Report is accumulated and communicated to management, including our
      principal executive officers as appropriate, to allow timely decisions regarding
      required disclosure.





The
      Certifying Officers have also indicated that there were no significant changes
      in our internal controls or other factors that could significantly affect such
      controls subsequent to the date of their evaluation, and there were no
      corrective actions required with regard to significant deficiencies and material
      weaknesses.





Our
      management, including each of the Certifying Officers, does not expect that
      our
      disclosure controls or our internal controls will prevent all potential errors
      and fraud. A control system, no matter how well conceived and operated, can
      provide only reasonable, not absolute, assurance that the objectives of the
      control system are met. In addition, the design of a control system must reflect
      the fact that there are resource constraints, and the benefits of controls
      must
      be considered relative to their costs. Because of the inherent limitations
      in
      all control systems, no evaluation of controls can provide absolute assurance
      that all control issues and instances of fraud, if any, within a company have
      been detected. These inherent limitations include the realities that judgments
      in decision-making can be faulty, and that breakdowns can occur because of
      simple error or mistake. Additionally, controls can be circumvented by the
      individual acts of some persons, by collusion of two or more people or by
      management override of the control. The design of any systems of controls also
      is based in part upon certain assumptions about the likelihood of future events,
      and there can be no assurance that any design will succeed in achieving its
      stated goals under all potential future conditions. Over time, control may
      become inadequate because of changes in conditions, or the degree of compliance
      with the policies or procedures may deteriorate. Because of these inherent
      limitations in a cost-effective control system, misstatements due to error
      or
      fraud may occur and not be detected.





-11-


**PART
      II**





**Item
      1. Legal Proceedings**





The
      Company was previously a defendant in a legal proceedings brought against it
      by
      Coast to Coast Equity Group, Inc. in the United States District Court for the
      Southern District of Florida under Case No. 0:06-cv-60414-JIC. This action
      commenced in March 2006 and as of September 11, 2006, an Order was entered
      by
      the court granting a Joint Motion for Stipulated Order of Dismissal With
      Prejudice wherein the action was dismissed with prejudice with each party to
      bear their own costs and attorneys’ fees. Pursuant to Order effective the same
      date, the case was closed.





In
      accordance with a Release & Satisfaction executed by the respective parties
      to this litigation on September 7, 2006, the Company agreed to issue and has
      issued to Coast to Coast the 2,158,151 shares of common stock, and Coast to
      Coast agreed to forfeit any claim that it had to 3,000,000 warrants to acquire
      common stock pursuant to a previously executed Warrant Agreement. The parties
      further agreed to terminate any and all duties and responsibilities owed to
      each
      other pursuant to previously executed Reorganization Agreement, Consulting
      Agreement, and Warrant Agreement.





**Item
      2. Unregistered Sales of Equity Securities and Use of
      Proceeds**





None





**Item
      3. Defaults upon Senior Securities**





An
      unsecured loan payable in the amount of RMB 4.5 million (Equivalent to US
      $569,332 at September 30, 2006) to a financial institution, guaranteed by an
      independent third party, with interest at 7.254% per annum payable monthly,
      with
      principal due October 26, 2006 is currently past due. Total amount of the
      default were US$569,332 including US$569,332 in principal and US$0 in interest
      as of November 12, 2006.





**Item
      4. Submission of Matters to a Vote of Security Holders**





None





**Item
      5. Other Information**





None




**Item
      6. Exhibits**





The
      exhibits included in this report are indicated below.





**Exhibit
                No.**
            **Description
                of Exhibit**31.1
            Rule
                13a - 14(a)/15d-14(a) Certification of the Chief
                Executive Officer31.2
            Rule
                13a - 14(a)/15d-14(a) Certification of the Chief
                Financial Officer32.1
            Section
                1350 certification32.2
            Section
                1350
                certification





-12-


**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.




**Worldwide
              Biotech & Pharmaceutical Company**Date: November
              20, 2006
            By:
            /s/ Wenxia
              GuoChief
                Executive Officer, Director
              (Principal
                Executive Officer) Date: November
              20, 2006
            By:
            /s/ Peiyi
              TianVP,
                Treasurer, CFO, Director
              (Principal
                Financial and Accounting Officer) Date: November
              20, 2006
            By:
            /s/ JianJun
              LiuDirector Date: November
              20, 2006
            By:
            /s/ Huimin
              ZhangDirector






-13-