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:5/6/2016)... UK (PRWEB) , ... May 06, 2016 , ... ... success in changing the way the pharmaceutical industry conducts clinical trials. This month Ibs ... most influential people in pharma, and he was honored as a Tech Disruptor by ...
(Date:5/6/2016)... ... ... variety of national pet product manufacturers, companies and brands will gather for one day only ... noon to 8 p.m. at New York City’s Roger Smith Hotel. The event is produced ... and safety pet products in today’s marketplace. , Petrend Event showcases the newest ...
(Date:5/6/2016)... , ... May 06, 2016 , ... Logically, spring weather, ... seasons, when the weather is too cold, dry or hot, water on the eye ... actually absorb moisture from the surrounding air. There’s only one problem, according to radio ...
(Date:5/6/2016)... ... 2016 , ... Canadian author Mark Black is a speaker, author, and life strategy ... the world … with the help of his publisher Strategic Book Group and its subsidiary ... a hospital bed waiting for a miracle: He needed a heart and double-lung transplant. From ...
(Date:5/6/2016)... ... ... Yisrayl Hawkins, Pastor and Overseer at The House of Yahweh, has written a new article ... Bible about helping to stop cancer. Yisrayl says there are too many suffering and dying ... and science industries will pay close attention and take action. The Pastor says that the ...
Breaking Medicine News(10 mins):
(Date:5/5/2016)... TORONTO , May 5, 2016  Replikins Ltd. today reported initial promising results ... Photo - http://photos.prnewswire.com/prnh/20160505/364345 ... ... ... Replikins analyses of all Zika specimens recorded on Pubmed. The analysis identified the highest ...
(Date:5/5/2016)... 5, 2016  Diagnostic imaging has been on ... concerns that these tests cause health care costs to spike. ... as well as the adoption of new guidelines ... peripherals that help health care providers cut costs, while helping ... imaging is a renowned authorized reseller of the medical ...
(Date:5/5/2016)... 2016 Research and ... Thalassaemia Market and Competitive Landscape Highlights - ...      (Logo: http://photos.prnewswire.com/prnh/20160330/349511LOGO ) ... Competitive Landscape Highlights - 2016, provides comprehensive ... Thalassaemia market valuations and forecast, Thalassaemia products ...
Breaking Medicine Technology: