LOS ANGELES and HARBIN, China, Feb. 14 /Xinhua-PRNewswire-FirstCall/ -- Renhuang Pharmaceuticals, Inc. (OTC Bulletin Board: RHGP) ("Renhuang" or "the Company"), a leading pharmaceutical company in China, today announced that it has retained CCG Elite to design and execute its investor relations campaign.
Through its GMP certified facilities, the Company manufactures over 200 types of western, traditional Chinese medicines (TCM), and branded pharmaceuticals. The Company sells raw materials and finished products using its extensive distribution network and third party distributors throughout China. Renhuang controls an estimated 70% of China's natural source of Acanthopanax (also known as Siberian Ginseng), a widely used drug for multiple indications, and hence dominates the market for Acanthopanax-based medicinal and nutraceutical products. The Company's distribution network includes over 3,000 sales agents in 70 sales centers across 24 districts, covering over 50% of the greater China. Additionally, Renhuang exports its pharmaceuticals to Russia and Southeast Asia.
Using its strong R&D team, Renhuang performs contract research and development services. Lead pharmaceuticals include: Acanthopanax based natural medicine products for treating depression, melancholy and other illnesses, Biopharmaceuticals (Shark Power Health Care and Ginseng Ointment) for multiple indications, and TCM. For nine months ending July 31, 2007, Renhuang's revenue totaled $20.1 million, and net income was $8.5 million, up 175% from the same period in the prior year.
"Renhuang is a fast growing drug manufacturer and distributor in China," said Mr. Li Shaoming, Chairman & CEO of Renhuang Pharmaceuticals, Inc. "We are very excited to work with CCG Elite to maximize our stockholders' value by improving our visibility with the investment community and with the financial media."
Pharmaceutical sales in China are expected to increase by over 13 percent annually, reaching $24 billion by 2010. Higher demand for pharmaceuticals in China is expected over the coming years due to growing affluence, size of the middle class, and the aging population. Additionally, the Company expects higher demand for its products in the foreign markets over the coming years.
Renhuang has a pipeline of pharmaceuticals including Lyophilized Syringin Powder for Injection, a novel anti-depression Chinese medicine, and plans to distribute them pending the approval from the Chinese State Food and Drug Administration (SFDA). Additional products in development include food antiseptic, immune system and diagnostics. Furthermore, the Company plans to build its brands by further expanding its market share in major cities such as Beijing and Shanghai. Other growth strategies include direct sales of pharmaceuticals to top tier hospitals, and increasing its branded product sales in the highly populated rural China. Additionally, the Company plans to grow through strategic partnership and acquisitions.
"Renhuang is a leading pharmaceutical company with solid manufacturing capabilities, branded products, extensive distribution network, strong R&D team, and an experienced management," said Crocker Coulson, President of CCG Elite. "The Company is well-positioned to take advantage of growing demand for pharmaceuticals in China. Through our integrated investor relations initiatives, we will introduce the Company to fund managers and analysts focusing on high growth equities from China."
About CCG Elite
CCG Elite is uniquely positioned to provide an outsourced, high-level investor relations solution that combines in-depth understanding of Asia's corporate culture and economic scene with a direct pipeline into the leading funds and broker-dealers in the United States. CCG Elite is a global, full-service investor relations agency with corporate headquarters in Los Angeles, and offices in New York, Newport Beach, Dallas, Hong Kong, Beijing and Shanghai. For further information, contact CCG Elite or visit the Company's website at http://www.ccgelite.com .
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 a many as 200 types of pharmaceuticals. Additionally, Renhuang distributes raw materials and finished pharmaceuticals using its broad distribution channels and third party distributors throughout China. The Company's distribution network includes over 2,000 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
This press release contains certain statements that may include 'forward-looking statements' as defined in the Securities Act of 1933, and the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included herein are 'forward-looking statements'. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic reports that
are filed with and available from the Securities and Exchange Commission.
All forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by these
factors. Other than as required under the securities laws, the Company does
not assume a duty to update these forward-looking statements.
For more information, please contact:
Renhuang Pharmaceuticals, Inc.
Ms. Gina Gao, 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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