Navigation Links
Genesis Pharmaceuticals Files Counter Claims
Date:10/31/2008

LAIYANG, China, Oct. 31 /Xinhua-PRNewswire-FirstCall/ -- Genesis Pharmaceuticals Enterprises, Inc. (OTC Bulletin Board: GNPH) ("Genesis" or the "Company"), a U.S. pharmaceutical company with its principal operations in the People's Republic of China, was granted leave by the American Arbitration Association ("AAA") to amend its counterclaims and add claims for defamation and breach of contract in a contractual dispute with Capital Research Group Partners, Inc. and Capital Research Group, Inc. ("CRG&P"). The hearing date for the arbitration is set for December 1, 2008 in the AAA offices in Miami, Florida.

CRG&P recently issued a press release that Genesis alleges included numerous false and defamatory statements about Genesis and Genesis' officers and directors.

"We believe that CRG&P made false statements against us in an attempt to damage our Company's reputation. We plan to vigorously pursue our new counterclaims in the upcoming arbitration," stated Mr. Wubo Cao, Chairman and CEO of Genesis Pharmaceuticals Enterprises.

About Genesis Pharmaceuticals Enterprises, Inc.

Genesis Pharmaceuticals Enterprises, Inc. is a U.S. public company engaged in the research, development, production, marketing and sales of pharmaceutical products in the People's Republic of China. Its operations are located in Northeast China in an Economic Development Zone in Laiyang City, Shandong province. Genesis is a pharmaceutical company in China producing western and Chinese herbal-based medical drugs in tablet, capsule, and granule form.

Safe Harbor Statement

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to introduce, manufacture and distribute new drugs. Actual results may differ materially from predicted results, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's ability to obtain raw materials needed in manufacturing, the continuing employment of key employees, the failure risks inherent in testing any new drug, the possibility that regulatory approvals may be delayed or become unavailable, patent or licensing concerns that may include litigation, direct competition from other manufacturers and product obsolescence. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.

For more information, please contact:

Genesis Pharmaceuticals Enterprises, Inc.

Ms. Elsa Sung, CFO

Tel: +1-954-727-8435

Email: elsasung@jiangbo.com

Web: http://www.genesispharmaceuticals.com

CCG Investor Relations, Inc.

Mr. Crocker Coulson, President

Tel: +1-646-213-1915

Email: crocker.coulson@ccgir.com

Web: http://www.ccgir.com


'/>"/>
SOURCE Genesis Pharmaceuticals Enterprises, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Pathway links inflammation, angiogenesis and breast cancer
2. EURYI project to understand how the brain wires during embryogenesis
3. DNA damage response confers a barrier for viral tumorigenesis
4. ThermoGenesis Announces 510(k) Clearance for AutoXpress(TM) Cord Blood Processing System
5. The genetics of MLL leukemogenesis
6. Genesis Technology Group Retains CCG Elite
7. Researchers chart the genetic mechanisms behind the genesis of fat cells
8. Tissue Genesis Signs Exclusive Distribution and License Agreement with SpineSmith
9. ThermoGenesis Corp. Reports First Quarter 2008 Results
10. Cardiogenesis Receives FDA Approval for PEARL 5.0 Robotic Hand Piece
11. Genesis Pharmaceuticals Announces Results for The First Quarter of Fiscal Year 2008
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... ... Pixel Film Studios Released ProSlice Levels, a Media Slicing Effect Plugin ... whole new perspective by using the title layers in ProSlice Levels to split-up ... Levels contains over 30 Different presets to choose from. FCPX users can ...
(Date:6/26/2016)... Orion, Clarkston, Michigan (PRWEB) , ... June 26, ... ... with respect to fertility once they have been diagnosed with endometriosis. These women ... intercourse but they also require a comprehensive approach that can help for preservation ...
(Date:6/25/2016)... ... 25, 2016 , ... The temporary closing of Bruton Memorial Library on June 21 due to ... a new, often overlooked aspect of head lice: the parasite’s ability to live away from ... common occurrence, but a necessary one in the event that lice have simply gotten out ...
(Date:6/25/2016)... ... , ... As a lifelong Southern Californian, Dr. Omkar Marathe earned his Bachelors ... Geffen School of Medicine at UCLA. He trained in Internal Medicine at Scripps Green ... hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had the opportunity to train ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits ... terms of the latter, setting the bar too high can result in disappointment, perhaps ... slow progress toward their goal. , Research from PsychTests.com reveals that ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016 ... Markets has announced the addition of the " ... offering. This ... and provides an updated review, including its applications in ... the total market, which includes three main industries: pharmaceutical ...
(Date:6/24/2016)... 24, 2016 The Academy of Managed Care ... that would allow biopharmaceutical companies to more easily ... make formulary and coverage decisions, a move that addresses ... medicines. The recommendations address restrictions in the ... the drug label, a prohibition that hinders decision makers ...
(Date:6/24/2016)... Calif. , June 24, 2016  American Respiratory Labs (ARL), ... is now able to perform sophisticated lung assessments in patients, homes, ... , Inc. Patients are no longer limited to ... EasyOne PRO ® , ARL patients like Jeanne R. of ... in the comfort of her own home. ...
Breaking Medicine Technology: