Navigation Links
Genesis Pharmaceuticals Reports Results for the Second Quarter of its Fiscal Year 2009
Date:2/17/2009

y develop a SOX 404 compliance program. This will include an examination and report on the adequacy of the Company's internal financial reporting and control procedures, and recommendations on how to implement best practices in the areas of operations and financial risk reporting and control.

In January, the Company announced that it signed an Assets Transfer Contract to acquire Hongrui, including all of Hongrui's manufacturing and office buildings, land, equipment and inventories. This acquisition also includes all the rights to manufacture and distribute Hongrui's 22 Traditional Chinese Medicines. The total purchase price will be RMB110 million (approximately $16.1 million) consisting of RMB66 million in cash (approximately $9.6 million) and 643,651 shares of Genesis' common stock. The Company has valued the equity consideration to be paid in this transaction at approximately $12.2 million based on the closing price of the Company's common stock on January 23, 2009.

The acquisition of Hongrui will increase the Company's product portfolio from 6 to 28 products, and will increase the Company's presence in the over the counter drug market while helping balance Genesis' over the counter sales with its sales of prescription drugs. Genesis will manufacture, label and distribute the drugs it purchased from Hongrui under its own brand name, "Jiangbo."

"We are excited by the opportunity to expand our over the counter presence by selling Hongrui's drugs. We expect that sales of Hongrui products will have an immediate positive impact on our revenue growth. Because our attention is no longer being diverted by the demands of arbitration procedures, we believe that we can return our attention to growing Genesis and developing our Hongrui purchase."

The Company participated in a number of American Arbitration Association ("AAA") proceedings during the latter part of 2008 and the beginning of 2009. In
'/>"/>

SOURCE Genesis Pharmaceuticals Enterprises, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Related biology technology :

1. Genesis Pharmaceuticals Announces Conference Call to Discuss Results for its Second Quarter of FY 2009
2. Genesis HealthCare Promotes Wendy LaBate To Senior Vice President of Operations for the Northeast Area
3. AngioGenex Presents Data on its Id Targeted Anti-Angiogenesis Inhibitors at Two Scientific Conferences
4. ThermoGenesis Corp. to Announce Second Quarter Fiscal 2009 Results on February 4, 2009
5. Genesis Pharmaceuticals Appoints KPMG to Help Develop a SOX 404 Compliance Program
6. OmegaGenesis Announces Angiogenesis Application Collaboration
7. Cardiogenesis Announces Addition of Raymond W. Cohen to Board of Directors
8. Tissue Genesis Applies CE Mark to Its Adult Stem Cell Isolation System
9. Cardiogenesis Reports Third Quarter 2008 Results
10. ThermoGenesis Presentation at Rodman & Renshaw Conference
11. Genesis Pharmaceuticals Launches New Corporate Website
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/24/2014)... -- Rock Creek Pharmaceuticals, Inc., (NASDAQ: RCPI ) ... Application (CTA) with the United Kingdom,s ... approval to initiate clinical trials for the continued development ... on the Company receiving CTA regulatory approval, the Company ... the safety, tolerability and dose escalation of Anatabine Citrate ...
(Date:12/22/2014)... ROCKVILLE, Md. , Dec. 22, 2014 ... MKT: SYN), a developer of pathogen-specific therapies ... focus on protecting the microbiome, today announced ... a Phase 1a clinical trial of SYN-004, ... the prevention of Clostridium difficile (C. ...
(Date:12/22/2014)... DIEGO , Dec. 22, 2014 GenomeDx ... the Decipher Prostate Cancer Classifier, a genomic test for ... in node-negative, high-risk men managed by radical prostatectomy without ... radical prostatectomy is relatively uncommon, using tumor genomics to ... of metastatic disease is an important advance. The study ...
(Date:12/22/2014)... ITRA Global, one of the largest ... real estate, has further expanded its global reach with ... Brisbane, Western Australia, reports Mylinda Vick, CCIM, Chairman of ... Global / ACORPP (Australian Corporate Property and Projects) , ... property services to a wide range of clients in ...
Breaking Biology Technology:Rock Creek Pharmaceuticals Files Clinical Trial Application in the UK for Clinical Trials of Anatabine Citrate Formulations 2Rock Creek Pharmaceuticals Files Clinical Trial Application in the UK for Clinical Trials of Anatabine Citrate Formulations 3Synthetic Biologics Announces Positive Topline Results from Phase 1a Trial of SYN-004 for the Prevention of C. difficile Infection 2Synthetic Biologics Announces Positive Topline Results from Phase 1a Trial of SYN-004 for the Prevention of C. difficile Infection 3Synthetic Biologics Announces Positive Topline Results from Phase 1a Trial of SYN-004 for the Prevention of C. difficile Infection 4Synthetic Biologics Announces Positive Topline Results from Phase 1a Trial of SYN-004 for the Prevention of C. difficile Infection 5Study Published in European Urology Shows that the Decipher Prostate Cancer Classifier is Predictive of Rapid Metastasis in High-Risk Men who have had Prostate Surgery 2Study Published in European Urology Shows that the Decipher Prostate Cancer Classifier is Predictive of Rapid Metastasis in High-Risk Men who have had Prostate Surgery 3ITRA Global Continues International Expansion in Perth and Brisbane, Australia 2
(Date:12/19/2014)... DUBLIN , Dec. 18, 2014 Research and ... addition of the "Micro Market Monitor: North America ... http://photos.prnewswire.com/prnh/20130307/600769 ... grow at a CAGR of 3.6% from 2014 to ... in this market, Canada is ...
(Date:12/17/2014)... DUBLIN , Dec. 15, 2014 Research ... announced the addition of the "Samsung Galaxy ... Analysis" report to their offering. ... on a totally different sensing technology than the ... a fingerprint sensor in its product. ...
(Date:12/17/2014)... -- Valencell, a leader in performance biometric data sensor ... leaders such as Intel, Jabra, Atlas, and Scosche to ... These products will be showcased at CES 2015, taking ... . "Our partners choose PerformTek biometrics, ... with the clinical data to back it up," said ...
Breaking Biology News(10 mins):Micro Market Monitor: North America Perimeter Security Systems Market (Intrusion Detection Sensor, Video Surveillance, Communication/Alarm and Notification, Access Control System) 2Micro Market Monitor: North America Perimeter Security Systems Market (Intrusion Detection Sensor, Video Surveillance, Communication/Alarm and Notification, Access Control System) 3Samsung Galaxy S5 - Home Button Synaptics Fingerprint Sensor Technology Analysis 2Valencell PerformTek Biometrics Power the Most Accurate Wearables at CES 2015 2
... discovery of a hormone acting like molecular glue could hold ... plants cope with environmental stress. The study, which is ... reveals how the plant hormone jasmonate binds two proteins together ... chemistry. The study also identifies the receptor,s crystal structure to ...
... the University of California, Santa Cruz, have found that ... in family groups and shows patterns of social behavior ... of the formation and stability of family groups in ... the evolution of cooperative behavior. The researchers ...
... 6, 2010 Climbers of high peaks such as Mount Kilimanjaro ... should not ignore AMS warning signs, which can progress to ... risk for altitude sickness by becoming acclimatized to increased altitudes ... issue of High Altitude Medicine & Biology , a ...
Cached Biology News:Hormone acting as 'molecular glue' could boost plant immune systems 2Family ties bind desert lizards in social groups 2Family ties bind desert lizards in social groups 3
... be able to handle larger sample volumes, automate ... as interface with telemetry systems. The AccuSampler ... dogs, pigs, and primates. The system may ... the computer can be located outside the animal ...
... a regulated environment, Pipette Tracker Pro ... that automates gravimetric pipette calibration and ... meets todays regulatory compliance requirements. Pipette ... that includes a full security implementation, ...
... yolk protein Vtg in plasma from juvenile or ... for endocrine disrupting chemicals (EDCs) with estrogenic effects ... accepted screening test for the estrogenic effects of ... kit is a double-antibody immunometric (sandwich) EIA for ...
... which no antibody exists? Having difficulty generating antibodies ... variety of pharmaceutical, biotech and academic researchers and ... and expertise in antibody generation to work for ... development technology , High affinity and high specificity ...
Biology Products: