Navigation Links
China Medicine Wins Best 1000 SME Award in Guangdong Province; Eligible for RMB 25 Million Loan
Date:5/15/2009

GUANGZHOU, China, May 15 /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 the Company has received an award for ''Best 1000 Small & Medium Enterprise (SME)'' in Guangdong Province. With this award, the Company is eligible to apply for a RMB 25 million ($3.7 million) loan with zero or minimum interest from the Bank of China, Guangdong branch.

China Medicine was presented the award by the Ministry of Finance in Guangdong Province on May 13, 2009, based on its status as an advanced and innovative Company, and on its reputation and credibility for delivering quality products and services as well as the strength and experience of its management team. Along with the award, the Company is eligible to apply for a one year short-term loan at the principal amount of up to RMB 25 million (approximately US$3,600,000). The interest rate on the loan is based on China's National Benchmark rate. However, 60% of the interest from the loan will be reimbursed by the Ministry of Finance in Guangdong province, and 40% of the interest from the loan will be reimbursed by the local government in Guangdong, provided that the Company is approved for the loan. The Company has started the loan application process and expects to receive the approval in June 2009.

''We are honored to be chosen as one of the best 1000 SME companies in Guangdong Province,'' said Mr. Senshan Yang, Chairman and CEO of China Medicine Corporation. ''With this award, we are entitled to a loan of up to RMB 25 million that will facilitate the financing of our near-term rADTZ commercialization project as well as the launch of other new products in 2009.''

About China Medicine Corporation

China Medicine Corporation is a leading pharmaceutical company that discovers 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 wholesale distributors in 28 provinces, more than 300 hospitals, 500 medicine companies, and 1,788 drug stores 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 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 Corp
     Tel:   +86-20-8739-1718
     Email: konzern08@163.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
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. China Pharma Holdings, Inc. Reports First Quarter 2009 Financial Results and Corporate Updates
2. China and the Netherlands join forces for research into water management
3. China Sky One Medical, Inc. Announces Record First Quarter 2009 Results
4. China Medicine Announces First Quarter 2009 Results
5. Winner Medical Establishes Joint Venture With West China Hospital in Chengdu, China
6. Jiangbo Pharmaceuticals, Inc. to Present at CCG IRs China Rising Conference in New York
7. China Nepstar Chain Drugstore to Announce First Quarter 2009 Financial Results on Wednesday, May 27, 2009
8. New study reveals the financial effects of stroke in China
9. China Pharma Holdings, Inc. to Report First Quarter 2009 Financial Results on May 15, 2009
10. China Medicine Announces Conference Call to Discuss First Quarter 2009 Results
11. China Medicine to Present at CCG IRs China Rising Conference in New York
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/6/2016)... ... December 06, 2016 , ... Gateway Analytical, one of ... particle counting and sizing services for USP 788 and 789 particulate standards compliance. ... as a response to the needs of pharmaceutical and medical device manufacturers, who ...
(Date:12/6/2016)... (PRWEB) , ... December 06, 2016 , ... 'Tis the ... disrupt daily routines. That means it's also the season when eating healthy, staying active, ... with diabetes) on schedule is harder to do. , "Shopping trips, parties and ...
(Date:12/6/2016)... Dublin, CA (PRWEB) , ... December 06, 2016 ... ... Community College District , the only authorized OSHA Training Institute Education Center headquartered ... Health Fundamentals certificate program focused on providing occupational safety and health training to ...
(Date:12/5/2016)... ... December 05, 2016 , ... Edward Buckingham ... announce the arrival of the newest Sciton laser in January 2017. The Halo ... tunable non-ablative and ablative wavelengths for exceptional results. Outperforming more traditional lasers, the ...
(Date:12/5/2016)... ... December 05, 2016 , ... Researchers at Johns Hopkins All Children’s ... of young athletes. Over the course of three years, researchers will study concussions and ... The mouth guards, equipped with special sensors, will track the location and force of ...
Breaking Medicine News(10 mins):
(Date:12/5/2016)... Fla. , Dec. 5, 2016  Breckenridge ... into a multi-product marketing agreement with development and ... injectable products. Under the terms of this agreement, ... its label in the United States ... and one tentatively-approved ANDA. The products cover a ...
(Date:12/5/2016)... , December 5, 2016 According to a new ... and by Application - Global Opportunity Analysis and Industry Forecast, 2014 - 2022", ... expected to reach $5,255 million by 2022, growing at a CAGR of 6.4% ... more than four-fifths share. Continue Reading ... ...
(Date:12/5/2016)... Sanovas, Inc., a life science asset holding company ... wholly owned subsidiary, Intubation Science, Inc., and its LightSpeed Intubation ... http://photos.prnewswire.com/prnh/20161202/445251LOGO   ... Sanovas, Inc. ... There are over 40 million Endotracheal Intubations performed annually ...
Breaking Medicine Technology: