LAIYANG, China, Sept. 11 /Xinhua-PRNewswire-FirstCall/ -- Genesis Pharmaceuticals Enterprises, Inc. (OTC Bulletin Board: GNPH) ("Genesis" or the "Company"), a leading pharmaceutical company in the People's Republic of China, today announced that the Company received purchase orders for a total value of approximately $12 million over the next 12 months from over 800 wholesale distributors at the 43rd Annual New Drugs Conference (the "Conference") sponsored by China Health Tech Forum 2008.
The 43rd Annual New Drugs Conference was held on September 3rd - 5th in Yantai International Expo Center, Shandong Province. The purpose of this industry Conference was to allow pharmaceutical companies in China with new and innovative products to meet and exchange ideas, and to allow pharmaceutical companies to introduce their products to distributors. Genesis distributed a large number of Company brochures at the Conference and received numerous inquiries from distributors.
The Company's newly developed Radix Isatidis Dispersible Tablets, an herbal-based traditional Chinese medicine, received the highest number of orders, over 60% of the total value of the purchase orders.
"We are pleased that the 43rd Annual New Drugs Conference was such a success for the Company. We believe that these new purchase orders from these distributors will increase our presence in the Chinese over the counter pharmaceuticals market," said Mr. Cao Wubo, Chairman and CEO of Genesis Pharmaceuticals Enterprises. "We hope to expand our market share and get even greater brand recognition in China in the future by bringing new and innovative products to market."
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 major pharmaceutical company in China producing tablets, capsules, and granules for both western and Chinese herbal- based medical drugs.
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
anticipated or 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
CCG Investor Relations, Inc.
Mr. Crocker Coulson, President
|SOURCE Genesis Pharmaceuticals Enterprises, Inc.|
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