TUSTIN, Calif., Oct. 11 /PRNewswire-FirstCall/ -- AMDL, Inc. (Amex: ADL), headquartered in Tustin, California, with operations in Shenzhen, Jiangxi and Jilin, China, through its wholly owned subsidiary Jade Pharmaceutical Inc. (JPI), is an international biopharma company that engages in the development, manufacture and marketing of proprietary pharmaceutical and diagnostic products. AMDL announced today that JPI has signed an agreement with Heze Mudan Medicals Co. Ltd. to distribute Domperidone tablets in the Province of Shandong and the surrounding areas, one of the most affluent regions in China.
Domperidone is an important medicine for treating nausea and vomiting. JPI's generic version of this product is significantly lower priced than competitors. The contract is subject to minimum sales which will be reviewed annually and is expected to add at least $2.3 million in annual revenues.
Frank Zheng, managing director of JPI, said this transaction puts the Company on the path to building sales in China by as much as $24 million over the next 12 months. Gary Dreher, CEO of AMDL, said this and other recently signed contracts will assist in the effort to meet the goal of building annual sales to $100 million over the next four to five years.
About JPI: Jade Pharmaceutical has access to the fastest growing pharmaceutical and consumer market in the world: China. AMDL, through its subsidiary, Jade currently manufactures large volume injectable fluids, tablets and other related products, holding licenses for 133 products. It also manufactures 107 generic, over the counter and supplemental pharmaceutical products under certified Chinese Good Manufacturing Practice (CGMP) standards.
About AMDL: More information about AMDL and its products can be obtained at http://www.amdl.com .
Forward-Looking Statements: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
Contact: AMDL, Inc.
AMDL Investor Relations
Direct Line: 949.707.5365
Voice Mail: 714.505.4460
|SOURCE AMDL, Inc.|
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