Navigation Links
China Medicine Maintains Exclusive Rights to Distribute 2,300 Pharmaceutical Products
Date:6/23/2008

GUANGZHOU, China, June 23 /Xinhua-PRNewswire/ -- China Medicine Corporation (OTC Bulletin Board: CHME; "China Medicine" or "the Company"), a leading distributor and developer of ethical and over-the-counter drugs, traditional Chinese medicines (TCMs), nutritional and dietary supplements, medical devices, and medical formulations in the People's Republic of China (PRC), today announced it has successfully obtained the exclusive rights to sell 2,300 products included in the Company's current catalogue.

The Company won the exclusive rights through an on-line bidding system called the "Guangdong Sunshine Medicine Public Internet Bidding System." The system was established in 2007 by the Guangdong government to help consolidate the provincial medicine acquisition market and to promote a transparent bidding process. Among the 2,300 products that the Company has maintained exclusive rights to sell, four were developed by China Medicine. They include Ozagrel, a powder-injection that is used for treatment of acute myocardial infarction; Bumetanide, an injection used for treatment of diuretic and chronic kidney failure; Levocarnitine, an injection used for the treatment of coronary heart disease; and Ji Xue Gan Pian, a tablet which is used for the treatment of cuts from surgery and skin disease.

"We are excited that we have bid against more than 1,700 medicine distributors nationwide and have maintained the rights to sell over 2,300 products that were already included in our product catalogue," said Mr. Senshan Yang, Chairman and CEO of China Medicine. "We will be selling our products to hospitals throughout Guangdong Province through an online drug sales system."

China Medicine believes that securing and maintaining the rights to sell the drugs previously included in its portfolio will help to increase revenues going forward since the Company has already gone through the introductory phase, which is typically a period of slower sales when new products are advertised and marketed. With the introductory phase complete, the Company can now focus more on promoting existing drugs thereby increasing sales volume. China Medicine maintains a strong reputation in the pharmaceutical industry and an extensive distribution network.

"China Medicine will continue to actively participate in the online bidding system in order to add more products to our portfolio," commented Mr. Yang. "We will also increase our research and development efforts in order to increase our portfolio of self-developed drugs."

About China Medicine Corporation

China Medicine Corporation is a leading pharmaceutical company which discovers and develops medical formulations and distributes over 2,200 pharmaceutical products in China including prescription and over-the-counter drugs, traditional Chinese medicine products, herbs and dietary supplements. The Company distributes the products to wholesale distributors in 28 provinces and to more than 300 hospitals, 500 medicine companies, and 1,788 drug stores throughout China. The Company actively develops a number of proprietary products for many 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 statement to reflect events or circumstances after the date of this release.

Company Contact: Investor Relations Contact:

Ms. Huizhen Yu Mr. Crocker Coulson

Chief Financial Officer President

China Medicine Corp CCG Elite Investor Relations

Tel: +86-20-8739-1718 Tel: +1-646-213-1915 (NY Office)

E-mail: konzern08@163.com E-mail: crocker.coulson@ccgir.com

Website: http://www.chinamedicinecorp.com Website: http://www.ccgelite.com


'/>"/>
SOURCE China Medicine Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. China Sky One Medical, Inc. Research Center Recognized by Heilongjiang Science and Technology Institute
2. China Yingxia International, Inc. Appoints Chief Financial Officer
3. China Sky One Medical, Inc. to Acquire Peng Lai Jin Chuang Company
4. China Medical Technologies Reports Fourth Quarter and Full Year Financial Results
5. AmeriCares Establishes Field Hospital in China
6. China Sky One Medical, Inc. Announces Guidance for Second Quarter and Full Year 2008
7. AmeriCares Purchases BLU-MED Portable Hospital for China Earthquake Relief
8. Answers From Nature Introduces 100% Non-China Ingredients for Dietary Supplements
9. China Sky One Medical, Inc. Receives SFDA Approval for Five Patches
10. Meetings with Pre-Screened Verified China Suppliers Help 14 Top Buyers, Including Brookstone and Staples, Save Time and Cut Sourcing Costs
11. Free Wheelchair Mission to Distribute 4,400 Wheelchairs to China Earthquake Victims
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, Dr. Omkar Marathe ... from the David Geffen School of Medicine at UCLA. He trained in Internal Medicine ... his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had the ...
(Date:6/24/2016)... CA (PRWEB) , ... June 24, 2016 , ... A ... procedures that most people are unfamiliar with. The article goes on to state that ... but also many of these less common operations such as calf and cheek reduction. ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... Scientific Sessions in Dallas that it will receive two significant new grants to ... came as PHA marked its 25th anniversary by recognizing patients, medical professionals and ...
(Date:6/24/2016)... ... ... makers of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a Fair Minimum ... by 2020 and then adjusting it yearly to increase at the same rate as the ... wage floor does not erode again, and make future increases more predictable. , The company ...
(Date:6/24/2016)... ... June 24, 2016 , ... Puradigm® & Innovative Solutions today ... cultivation and processing operations at its production facility, and opened its first two ... the manufacturer of a complete system of proactive air and surface purification solutions ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... 2016 Jazz Pharmaceuticals plc (Nasdaq: ... Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR"), ... Inc. ("Celator"; Nasdaq: CPXX ) expired effective ... As previously announced on May 31, 2016, ... agreement under which Jazz Pharmaceuticals has commenced a tender ...
(Date:6/24/2016)... June 24, 2016  Consumers have taken a ... have placed more emphasis on patient outcomes. ... programs in the pharmaceutical industry have evolved beyond ... pharmaceutical companies are focusing on becoming more patient-oriented ... products and services that improve health. ...
(Date:6/24/2016)... , June 24, 2016   Bay Area ... Network,s Dean Center for Tick Borne Illness ... and Rehabilitation, MIT Hacking Medicine, University of California, ... today announced the five finalists of Lyme ... disease.  More than 100 scientists, clinicians, researchers, entrepreneurs, ...
Breaking Medicine Technology: