HARBIN, China, June 6 /Xinhua-PRNewswire-FirstCall/ -- Renhuang Pharmaceuticals, Inc. (Pink Sheets: RHGP) ("Renhuang" or "the Company"), a leading pharmaceutical company in the People's Republic of China ("PRC"), today announced the successful completion of its Tianma pills trade show in Harbin, China on May 29, 2008.
Tianma pills, one of the Chinese traditional medicines Renhaung manufactories, are approved for the treatment of headaches. The primary active ingredient in Tianma pills, Rhizoma Gastrodiae, is released into the blood stream, supplying nutrients that relax brain nerves and speed up blood circulation. Since Tianma pills are highly effective with no side effects, they are one of the top-selling headache drugs in China by volume.
The trade show attracted about 100 agencies and representatives from major retail chains around the country. Renhuang signed letters of intent for distribution agreements with two separate pharmaceutical retail chain stores: Harbin Renmin Tongtai Pharmaceutical and Baofeng Pharmaceutical. The agreements are expected to bring an additional RMB 20 million in sales for Renhuang. Harbin Renmin Tongtai Pharmaceutical has 57 stores, which are all located in Heilongjiang province. Baofeng Pharmaceutical has over 1000 stores, covering Heilongjiang, Shanghai, Nanjing and Hangzhou.
"We intend to increase our sales growth going forward by focusing on promoting our products through marketing and improving our product pipeline by finding the best product mix," said Mr. Shao-ming Li, Chairman and CEO of Renhaung Pharmaceuticals, Inc. "In addition, we are confident that sales of Tianma pills for Fiscal Year 2008 will surpass sales of $1.97 million recorded in 2007."
About Renhuang Pharmaceuticals, Inc.
Founded in 1996, Renhuang Pharmaceuticals, Inc, produces western, traditional Chinese medicines (TCM), and branded pharmaceuticals, using its GMP-certified facilities in China. The Company's GMP-certified manufacturing facilities, containing cutting-edge technologies and advance equipment, are capable of producing as many as 200 types of pharmaceuticals. Additionally, Renhuang distributes raw materials and finished pharmaceutical products using its extensive distribution channels and third party distributors throughout China. The Company's distribution network includes over 3,000 sales representatives in 70 sales centers across 24 districts, covering over 50% of the greater China. The Company also exports its products to Russia and Southeast Asia. For more information, visit http://www.renhuang.com .
Safe Harbor Statement
Certain of the statements made in the press release constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements can be identified by the
use of forward-looking terminology such as "believe," "expect," "may,"
"will," "should," "project," "plan," "seek," "intend," or "anticipate" or
the negative thereof or comparable terminology. Such statements typically
involve risks and uncertainties and may include financial projections or
information regarding our future plans, objectives or performance. Actual
results could differ materially from the expectations reflected in such
forward-looking statements as a result of a variety of factors, including
the risks associated with the effect of changing economic conditions in The
People's Republic of China, variations in cash flow, reliance on
collaborative retail partners and on new product development, variations in
new product development, risks associated with rapid technological change,
and the potential of introduced or undetected flaws and defects in
products, and other risk factors detailed in reports filed with the
Securities and Exchange Commission from time to time.
For more information, please contact:
Renhuang Pharmaceuticals, Inc.
Ms. Shuang Tan, IR Contact
CCG Elite Investor Relations Inc.
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
|SOURCE Renhuang Pharmaceuticals, Inc.|
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