TUSTIN, Calif., Feb. 4 /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, together with Jade, engages in the development, manufacture and marketing of proprietary pharmaceutical, health care and diagnostic products. The Company announced today that JPI's subsidiary JJB received an updated third party valuation of its land use rights, plant and buildings that have been now been reappraised for a total of approximately $21.8 million, significantly above the FY2007 book value of these assets.
Frank Zheng, Managing Director of Jade, stated that "This new appraisal by the accounting firm of Jiangxi Zhong Cheng Accounting Co., Ltd., is anticipated to provide JJB with the ability to significantly expand its current credit facilities, including gaining larger credit facilities under more favorable interest rates."
Mr. Gary Dreher, CEO of AMDL noted that "this new appraisal is another illustration of the significant value that JPI's business brings to AMDL in 2008 and beyond."
About Jade Pharmaceutical Inc.: Jade has access to the fastest growing pharmaceutical and consumer market in the world: China. AMDL, through its subsidiaries, Jade currently manufactures large volume injection 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.
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.
Mr. Paul Knopick
AMDL Investor Relations
Direct Line: 949.707.5365
|SOURCE AMDL, Inc.|
Copyright©2008 PR Newswire.
All rights reserved