Navigation Links
China Medicine Corporation's Levocarnitine Dried Powder Injection Was Registered with the Ministry of Health of Pakistan
Date:10/20/2009

GUANGZHOU, China, Oct. 20 /PRNewswire-Asia/ -- China Medicine Corporation (OTC Bulletin Board: CHME) ("China Medicine" or "the Company"), a leading distributor and developer of prescription and over-the-counter pharmaceuticals, traditional Chinese medicines ("TCM"), nutritional and dietary-supplements, medical devices, and medical formulations in the People's Republic of China ("PRC"), announced today that one of its major products distributed by its fully owned subsidiary, Guangzhou Konzern Pharmaceutical Co., Ltd. ("Guangzhou Konzern"), Levocarnitine Dried Powder Injection ("Levocarnitine"), was registered with the Ministry of Health of Pakistan on September 25, 2009. The registration number of Levocarnitine in Pakistan is 059054.

Guangzhou Konzern entered into a two-year Distribution and Supply Agreement of Levocarnitine ("Agreement") with RG Pharmaceutica (Pvt.) Ltd. ("RGP"), a Pakistani pharmaceutical distributor. The agreement stipulates that RGP will be responsible for the product registration, importation and marketing within the territory of Pakistan. Levocarnitine is used to treat coronary heart disease and acute myocardial infarction. Currently, there are no pharmaceutical products similar to Levocarnitine in Pakistan, and the potential market for Levocarnitine in Pakistan is estimated at 2 million vials per year.

China Medicine expects to launch Levocarnitine in Pakistan in January 2010. The Company expects to ship approximately 100,000 vials of Levocarnitine within the first year of entering the market in Pakistan and estimates that gross margin for the product will not be less than 65%. Levocarnitine is manufactured by Guangzhou Lifetech Pharmaceutical Co., Ltd. in China ("Lifetech"). Lifetech is Guangzhou Konzern's exclusive Original Equipment Manufacturer ("OEM"). Guangzhou Konzern distributed Levocarnitine in China in the years of 2008 and 2007, which generated revenues of $1,470,333 and $1,253,185 and gross profits of $570,074 and $473,006.

"We are excited to be able to export our OEM manufactured Levocarnitine powder injection to Pakistan, marking a major milestone for our company in entering this overseas pharmaceutical market," commented Mr. Senshan Yang, Chairman and CEO of China Medicine. "In addition, we believe our strategic move to tap into the international pharmaceutical market overall will increase our profitability and maximize shareholder value."

About China Medicine Corporation

China Medicine Corporation is a leading pharmaceutical company that researches and develops medical formulations and distributes over 2,200 pharmaceutical products in China including prescription and over the counter ("OTC") drugs, traditional Chinese medicine products, herbs and dietary-supplements. The Company distributes its products to more than 300 hospitals, 500 medicine companies, and 1,788 drug stores through wholesale distributors in 28 provinces throughout China. The Company actively develops a number of proprietary products for a variety of uses, including oncology, high blood pressure and the removal of toxins from food and animal feeds. For more information visit the Company's website at http://www.chinamedicinecorp.com .

Cautionary Statement

This press release contains forward-looking statements concerning the Company's business and products. The Company's actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, obtaining regulatory approval for new products, the expected contribution of higher margin products, government support for rural health care, competition from existing and new competitors, changes in technology, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risk factors detailed in the Company's reports filed with the Securities and Exchange Commission. China Medicine Corporation undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

    For more information, please contact:

    Company Contact:
     Mr. Richard Wu
     Chief Financial Officer
     China Medicine Corporation
     Tel:   +86-20-8737-2231
     Email: richardpdwu@gmail.com

    Investor Relations Contact:
     Mr. Crocker Coulson, President
     CCG Investor Relations
     Tel:   +1-646-213-1915 (NY Office)
     Email: crocker.coulson@ccgir.com
     Web:   http://www.ccgirasia.com

SOURCE China Medicine Corporation


'/>"/>
SOURCE China Medicine Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Niusule Launches Niusule Gummy Bears in China
2. China-Biotics, Inc. to Attend 2009 ROTH China Conference
3. China-Biotics, Inc. Announces Closing of Public Offering of Common Stock
4. Tianyin Pharmaceutical, Co. to Present at the Roth China Conference on October 14 at 12:30 pm ET
5. Innovation and Global Clinical Trial Participation are the Focus of CenterWatch's Latest Special Report on China's Drug Development Industry
6. Yanda International Health City - World Class Healthcare in China
7. Winner Medical Solely Sponsored the 2009 China Medical Textile Industry Forum
8. Avery Dennison Introduces Advanced New Medical Dressing Technology at MEDTEC China 2009
9. China Medical Technologies Announces US$30 Million Share Repurchase Program
10. AirMed Asia has Entered into a Joint Venture Agreement with Asia Air Medical to Expand Air Medical Transport in China
11. Tianyin Pharmaceutical Co., Inc. Has Four Products Included in Chinas Essential Drug List
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/16/2017)... Smithtown, New York (PRWEB) , ... January 16, ... ... group, SightMD today announced the addition of Victor Giamos, MD to ... Officer of SightMD and Managing Partner at North Shore Eye Care, a division ...
(Date:1/16/2017)... ... ... are well-aware of the following facts at present:, Flu and ... no effect on keeping this particularly bad strain of the flu away , ... sniffling , These facts are well-known among the team at Woodard! About ...
(Date:1/16/2017)... CITY, UT (PRWEB) , ... January 16, 2017 , ... ... disease not only to treat, but to test for, as well. The money spent ... billion every year.(1) Doctors in the U.S. screen patients for cancer more than in ...
(Date:1/15/2017)... ... , ... In this role, Courtney will be responsible for developing new business ... friendly mark. This certification program was created by ASL and the nonprofit Asthma and ... suitable for the 60+ million people living in the U.S. with asthma and allergies. ...
(Date:1/15/2017)... ... 15, 2017 , ... "On Tour is a music themed slideshow production package ... Christina Austin - CEO of Pixel Film Studios. , On Tour’s new slide ... and animation of their slideshows. Place each slide on top of another slide or ...
Breaking Medicine News(10 mins):
(Date:1/13/2017)... , January 13, 2017 This ... see how they have fared at yesterday,s closing bell: ... Biopharma Inc. (NASDAQ: GALE ), and ACADIA ... harness cellular and biomolecular processes to develop technologies and ... environmental footprint, feed the hungry, use less and cleaner ...
(Date:1/13/2017)... 2017 The 2016 election resulted in ... states voting in favor of legalizing cannabis for recreational use, ... in the U.S. In addition, the state of ... cannabis products sales. The ArcView Group has published an updated ... cannabis sales in the U.S. last year reached $6.7 billion, a ...
(Date:1/13/2017)... 2017   JDRF , the leading global ... pleased to announce that after more than a ... & Medicaid Services (CMS) has recognized continuous glucose ... use in making diabetes treatment decisions as durable ... eligible for coverage under Medicare. JDRF has been ...
Breaking Medicine Technology: