CFO of Genesis Pharmaceuticals Gives Live Interview on Bloombe...( LAIYANG China March 6 Asia-FirstC...),Health

LAIYANG, China, March 6 /PRNewswire-Asia-FirstCall/ -- Genesis Pharmaceuticals Enterprises, Inc. (OTC Bulletin Board: GNPH) ("Genesis" or the "Company"), a U.S. pharmaceutical company with its principal operations in the People's Republic of China, today announced that its CFO, Ms Elsa Sung, gave a live interview at the studios of Bloomberg TV Asia Pacific Channel which aired at 8:50 am, Thursday March 5, 2009 Hong Kong time. The interview addressed recent health care reforms in China and Genesis' growth strategies.

Ms Sung said the Chinese government plans to spend over 850 billion Yuan on health care over the next three years. As part of health care reform, plans call for over 90% of China's population to receive health care insurance coverage from the national medical insurance system. This will benefit the public as well as the suppliers of medical products, especially producers of OTC Traditional Chinese Medicines (TCM).

Until recently, Genesis focused on developing, manufacturing and distributing only western prescription drugs. The Company is now adding new TCMs to its product line and has moved into the OTC drug market. Genesis is waiting for final SFDA approval for several new western prescription and TCM drugs and is looking to broaden and balance its product line by acquiring drugs which already have SFDA approvals. The acquisition of new and already approved drugs will help ensure the Company's growth and avoid the long SFDA approval process for new drugs.

Ms Sung told the live anchor that the Chinese pharmaceutical industry is very fragmented and regionally orientated. To Genesis' great advantage, the Company is located in Shandong Province, one of the top three provinces in China in terms of population and GDP. The Company has an extensive sales network that reaches 29 provinces, so Genesis is poised for growth by being "at the right place and at the right time."

  
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SOURCE  Genesis Pharmaceuticals Enterprises, Inc.
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