LIUZHOU CITY, China, May 11 /PRNewswire-Asia-FirstCall/ -- China Baicaotang Medicine Ltd. (OTC Bulletin Board: CNBI) ("CBT," or the "Company"), a provincial leader in pharmaceutical distribution and retailing in the Guangxi Province of China announced today that Harbinger Research, LLC, an independent equity research firm, will provide research coverage on the Company.
Mr. Tang Hui Tian, Chairman and CEO of CBT, stated that "Our Company is in the midst of growth and expansion in Guangxi province, and given our status as a U.S.-traded Company and plans to up-list to a national exchange in the near future, we feel Harbinger Research's coverage of CBT comes at an excellent time for CBT and its investors. We believe our company and industry will continue to demonstrate robust growth for years to come, as per-capita disposable income and government-driven pharmaceutical spending in China continue to grow."
Brian R. Connell, CFA, a Harbinger Research Senior Analyst, stated that, "We are excited to initiate coverage on China Baicaotang, which we believe is significantly undervalued on both a relative and absolute basis. We expect the pharmaceutical industry to remain strong in China for the foreseeable future, clearly benefiting all provincial industry leaders, including China Baicaotang."
|SOURCE China Baicaotang Medicine Ltd.|
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