Navigation Links
China BCT Acquires 11 Stores, Expanding Retail Pharmacy Network

LIUZHOU CITY, Guangxi, China, June 1 /PRNewswire-Asia-FirstCall/ -- China BCT Pharmacy Group, Inc., (OTC Bulletin Board: CNBI), ("China BCT" or the "Company"), a leading pharmaceutical distributor, retail pharmacy, and manufacturer of pharmaceutical products in Guangxi Province, China, today announced the successful acquisition of 11 retail pharmacy stores in Laibin City, Xiangzhou County, further expanding the Company's pharmacy footprint in Guangxi Province.

In May 2010, China BCT acquired 11 retail pharmacy stores in Laibin City for $0.6 million in cash from Laibin Teng Fei Pharmaceutical Limited, a local retail pharmaceutical firm. China BCT will invest a total of approximately $49,000 to upgrade these stores to the Company's operating standards. Renovation for some stores has already commenced and upgrades to all stores are expected to be completed by July. The Company estimates average annual sales per store to be approximately $145,000 and anticipates the payback period to be about 3 years. Management expects these newly acquired stores to contribute approximately $1.0 million to China BCT's revenues in 2010.

"Following our recent deals that added an aggregate of 48 retail pharmacy stores, we are pleased to announce another acquisition that expands our pharmacy network in Guangxi Province," commented Mr. Hui Tian Tang, Chairman and CEO of China BCT. "We remain confident that we will meet our goal to add a total of 160 pharmacy stores by the end of 2010. We expect the 59 newly acquired stores over the past few months to contribute over $6 million to our revenue this year and better position us to leverage our retail network and increase market penetration."

About China BCT

China BCT is engaged in pharmaceutical distribution, pharmacy retailing, and the manufacture of pharmaceuticals products through its subsidiaries Guangxi Liuzhou Baicaotang Medicine Limited, Hefeng Pharmaceutical Co. Limited, and Guangxi Liuzhou Baicaotang Medicine Retail Limited in Guangxi province, China. It operates a large regional retail network in Guangxi province, consisting of 125 directly owned retail stores in Guangxi province and currently over 8,000 products are distributed through the Company's wholesale distribution network.

Safe Harbor Statement

This presentation contains "forward-looking statements" within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including the successful integration of newly acquired stores, the achievability of the payback periods, and the revenue generation potential of the newly acquired stores. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this presentation.

    For more information, please contact:

    Company Contact:
     Ms. Shelly Zhang, Chief Financial Officer
     China BCT Pharmacy Group, Inc.
     Tel:   +86-772-363-8318

    Investor Relations Contact:
     Ms Lei Huang, Account Manager
     CCG Investor Relations
     Tel:   +1-646-833-3417

     Mr. Crocker Coulson, President
     Tel:   +1-646-213-1915

SOURCE China BCT Pharmacy Group, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. HUYA Bioscience Intl Announces Clinical Trial Milestones in China for Promising New Anti-Arrhythmic Compound; Data Supports Desirable Safety Profile
2. HUYA Bioscience Intl Announces World-Class Clinical Advisory Team for New Anti-Arrhythmic Compound Sourced From China
3. HUYA Bioscience Intl Announces First Pre-IND Outcome for a Development Stage Compound Sourced From China - HBI-8000, Promising New Cancer Compound
4. HUYA Bioscience Intl Announces Pre-IND Outcome for HBI-3000 - Promising Anti-Arrhythmia Compound Sourced From China
5. China Sky One Medical, Inc. Announces 26 New Drugs in Clinical Trials
6. RHEI Pharmaceuticals Announces the Initiation of the Final Clinical Study for Approval of Tibozole in China
7. Varian Medical Systems to Exhibit Cancer Treatment and X-ray Imaging Technologies at China Med Exhibition
8. China Sky One Medical, Inc. Achieves Significant Breakthrough in Research for Sudden Cardiac Death (SCD) Early Examination Kit
9. China Animal Welfare Law Under Review While 36,000 Dogs Culled
10. China-Biotics, Inc. Prices $69 Million Public Offering of Common Stock
11. Clifford Chance Advises Pfizer on Conditional Clearance in China of Its Merger with Wyeth
Post Your Comments:
(Date:10/10/2017)... Calif. , Oct. 10, 2017  NDS received FDA 510(k) ... — a medical-grade battery-powered display stand specifically designed for endoscopy environments. ... transform technology into a clinical solution to support the improvement of ... Innovative Design ... Mobile Wireless Solution ...
(Date:10/7/2017)... --  Provista, a proven leader in the supply ... power, today announced a new resource area on ... is the online home for case studies, articles on ... releases, slideshows and events. ... at their fingertips, viewers can also watch short videos ...
(Date:10/4/2017)...  South Korean-based healthcare product Development Company I.M. Lab ... Kickstarter. The device will educate the user about ,proper, ... efficiency compared to the dated and pricey CPR training ... of the compression for a more informed CPR training. ... raise $5,000. cprCUBE ...
Breaking Medicine Technology:
(Date:10/13/2017)... VA (PRWEB) , ... October 13, 2017 , ... ... of DevOps and Agile Software Development, has been awarded a contract by the ... Blanket Purchase Agreement (BPA) aims to accelerate the enterprise use of Agile methodologies ...
(Date:10/12/2017)... Francisco, CA (PRWEB) , ... October 12, 2017 ... ... Dr. Cheng, are now treating sleep apnea using cutting-edge Oventus O2Vent ... apnea, a serious sleep disorder characterized by frequent cessation in breathing. Oral appliances ...
(Date:10/12/2017)... ... October 12, 2017 , ... The American College of Medical Informatics (ACMI) ... FACMI, during the Opening Session of AMIA’s Annual Symposium in Washington, D.C. AMIA’s ... Morris F. Collen, a pioneer in the field of medical informatics, this prestigious award ...
(Date:10/12/2017)... ... ... HMP , a leader in healthcare events and education, today announced that ... for ‘Best B-to-B Healthcare Website.’ Winners were announced during the Eddie & Ozzie Awards ... recognizes editorial and design excellence across a range of sectors. This year’s program included ...
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... ... (HLA), the nation's first interactive health literacy software tool, and the Cancer Patient ... aspects of cancer patient education, today announce a new strategic alliance. , ...
Breaking Medicine News(10 mins):