MONROVIA, Calif. and HANGZHOU, China, Nov. 18 /PRNewswire-FirstCall/ -- Niusule Biotech Corp. ("Niusule" or the "Company") (OTC Bulletin Board: NIUS), a leading U.S.-based biotech company focused on developing and selling nutritional products for children, today announced that the Company's popular Gummy Bear products will be distributed in Shanghai, the largest city in China. The Company has entered into a one year distribution contract with Hainan Qi Zheng Pharmaceutical Co., Ltd. ("Hainan Qi Zheng"), a leading distributor in Shanghai and Zhejiang Province, China.
Hainan Qi Zheng will distribute Niusule's Gummy Bear products across Shanghai through drugstores, shopping malls, and children stores. Under the contract, Hainan Qi Zheng is responsible for distributing Niusule's Gummy Bear products in Shanghai to 100 retail outlets by December 10, 2009 and to 280 retail outlets by end of 2010. Niusule will advertise its products in Shanghai and estimates advertising expense to be five percent of the total wholesale revenues from Hainan Qi Zheng. According to Hainan Qi Zheng, the order value is expected to reach $5.0 million in the calendar year 2010.
"We are pleased to report that our recently introduced Gummy Bear products have gained significant recognition and popularity among Chinese children. We are aggressively expanding our geographic footprint by entering into distribution partnerships with leading distributors in our target markets," commented Ms. Qinghua Hu, CEO of Niusule Biotech Corp. "We are positive about our engagement with Hainan Qi Zheng as our Shanghai distributor and expect to leverage its well-established network to introduce our products in Shanghai. We are confident of Hainan Qi Zheng's ability to meet its retail outlet targets for 2009 and 2010. We continue to seek distribution partnerships with other leading distributors in our target markets."
|SOURCE Niusule Biotech Corp.|
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