GUANGZHOU, China, Jan. 5 /PRNewswire-Asia/ -- China Medicine Corporation (OTC Bulletin Board: CHME) ("China Medicine" or "the Company"), a leading developer and distributor of prescription and over the counter pharmaceuticals, traditional Chinese medicines (TCM), nutritional and dietary supplements, medical devices and medical formulations, announced today that it has renewed its contract with CCG Investor Relations for a primary term of one year commencing on January 1, 2009.
"After one year of service, we are happy to renew our contract and have CCG Investor Relations continue to design and execute our investor relations campaign," said Mr. Senshan Yang, Chief Executive Officer of China Medicine. "We are looking forward to utilizing CCG's full set of services to further raise our visibility in the investment community and support the rollout of recombinant Aflatoxin Detoxifizyme (rADTZ), our innovative product that has the potential to detoxify aflatoxin (AFT), a potential cancer causing agent, in food and feed."
China Medicine operates through its 100%-owned subsidiary, Guangzhou Konzern Pharmaceutical Company Ltd. ("Konzern"). In addition to maintaining its status as a leading distributor of pharmaceuticals in China, the Company has transformed itself into an innovative developer of Chinese pharmaceuticals and proprietary formulas. After the success of a reverse merger of Konzern into a public shell company in 2006, the Company ventured into research and development by establishing Guangzhou Co-win Bioengineering Co., Ltd. with Guangzhou Ji'nan Science & Technology Industrial Group and Mr. Dongsheng Yao, in which the Company, through Konzern, owns 70% equity interest. The rADTZ project has received a government grant and will continue to receive financial support from the government as one of "863" key projects starting commercialization after more than ten years of research and incubation.
"The harmful threat of aflatoxins presents an opportunity for China Medicine to increase the quality and standard of animal feed and human food," commented Crocker Coulson, President of CCG Investor Relations. "We intend to develop a well-orchestrated investor relations program to enhance China Medicine's profile in the investment community and will also assist the Company in educating investors about its new product strategy and line of innovative products."
About China Medicine Corporation
China Medicine Corporation is a leading pharmaceutical company which discovers, develops, and distributes over 2,300 pharmaceutical products in China including prescription and over the counter ("OTC") drugs, traditional Chinese medicine ("TCM") products, herbs and dietary supplements. The Company distributes the products to wholesale distributors in 28 provinces, over 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 . Those who are interested in ADTZ could go to the website and read the white paper under R&D section.
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 risks 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: Ms. Huizhen Yu Chief Financial Officer China Medicine Corporation Tel: +86-20-8739 1718 Email: firstname.lastname@example.org Investor Relations Contact: Mr. Crocker Coulson President CCG Investor Relations Tel: +1-646-213-1915 (NY Office) Email: email@example.com
|SOURCE China Medicine Corporation|
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