Navigation Links
China Medicine Corporation Appoints PricewaterhouseCoopers As Independent Auditor To Audit Results For Fiscal Years 2006 - 2010

GUANGZHOU, China, Sept. 27, 2011 /PRNewswire-Asia/ -- China Medicine Corporation (Other OTC: CHME.PK) (the "Company"), a leading manufacturer, developer and distributor of Western pharmaceuticals, traditional Chinese medicines ("TCM"), and other health products in the People's Republic of China, today announced that it has appointed PricewaterhouseCoopers (“PwC”) as the Company’s independent registered public accounting firm to audit its financial results for fiscal years 2006 to 2010, effective September 21, 2011. PwC will audit the Company's consolidated financial statements for fiscal years ended December 31, 2006, 2007, 2008, 2009 and 2010, and review the Company's unaudited quarterly financial statements within the fiscal years 2006, 2007, 2008, 2009 and 2010. The appointment of PwC has been approved by the Audit Committee of the Company's board of directors.

Mr. Senshan Yang, Chairman and CEO of China Medicine Corporation, stated, "We are very pleased to have PwC as our new independent auditor. The addition of a Big Four audit firm signifies our commitment to the highest standards of corporate governance, in financial reporting, integrity and transparency. We look forward to working with PwC to serve the best interests of our shareholders."

In addition, the Company's board of directors voted to reduce the size of the board of directors from seven directors to five directors in an attempt to streamline decision-making within the Company. In conjunction with this vote, two of the Company's existing directors, Mr. Sean Shao and Ms. Minhua Liu, informed the board of directors of their resignation from the board of directors, effective September 30, 2011. Two existing independent directors, Mr. Ryan Shih and Mr. Daniel Shih, will replace Mr. Shao as a member of the Audit Committee and as a member of the Compensation Committee of the Board, respectively.

About China Medicine CorporationChina Medicine Corporation, a vertically integrated enterprise with a research and development center, manufacturing facility and well established sales network, engages in the production and distribution of prescription and over the counter drugs, traditional Chinese medicine products, herbs and dietary-supplements, medical devices, and medical formulations in China. The Company is developing a number of proprietary products for a variety of indications, including oncology, high blood pressure and toxin removal from food and animal feeds. For more information, please visit the Company's website at The Company routinely posts important information on its website.

Safe-Harbor StatementThis press release contains forward-looking statements concerning the Company's business and products. The Company's actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, obtaining regulatory approval for new products, government support for rural health care, competition from existing and new competitors, changes in technology, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this cautionary statement and the risk factors detailed in the Company's reports filed with the Securities and Exchange Commission. China Medicine Corporation undertakes no duty to revise or update any forward-looking statement to reflect events or circumstances after the date of this release except as required by applicable law or regulation.Contact InformationICR, Inc.In New York: Ms. Christine Duan: 1-203-682-8200In Beijing: Ms. Wen Lei Zheng: 86-10-6599-7968

SOURCE China Medicine Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. China Botanic Hosts Symposium on Research of Polysaccharide Peptide and Natural Innovative Drugs
2. China Health Resource, Inc. Announces Record 2nd Quarter 2011 Results
3. China Biologic to Attend Jefferies Healthcare Conference on September 27 and 28, 2011 in London
4. Emerging Pharmaceutical Market in China - Forecast to Become The Worlds Third-Largest Pharmaceutical Market By 2013
5. China Nepstar Chain Drugstore Schedules Annual General Meeting of Shareholders for October 25, 2011
6. Golden Meditech Disposes of 2.0% Stake in FunTalk China for US$15 Million
7. Orthopedic Accessories Market Outlook in BRICS (Brazil, Russia, India, China, South Africa) to 2017
8. External Defibrillator Market Outlook in BRICS (Brazil, Russia, India, China, South Africa) to 2017
9. China Botanic Schedules Conference Call to Discuss FY 2011 Third Quarter Results
10. ReportsnReports - PV Ribbon Industry (China &Global), Fetal & Neonatal Care Equipment Market, WiMAX Market (TDD/FDD Spectrum)
11. PolyOnes Healthcare Solutions and Distribution Network Showcased at Medtec China
Post Your Comments:
(Date:6/24/2016)... 2016   Pulmatrix, Inc ., (NASDAQ: ... drugs, announced today that it was added to the ... its comprehensive set of U.S. and global equity indexes ... important milestone for Pulmatrix," said Chief Executive Officer ... our progress in developing drugs for crucial unmet medical ...
(Date:6/23/2016)... 23, 2016 Any dentist who has made an ... current process. Many of them do not even offer this ... and high laboratory costs involved. And those who ARE able ... such a high cost that the majority of today,s patients ... Parsa Zadeh , founder of Dental Evolutions Inc. and ...
(Date:6/23/2016)... , June 23, 2016 ... CAPR ), a biotechnology company focused on ... today announced that patient enrollment in its ongoing ... Duchenne) has exceeded 50% of its 24-patient target. ... in the third quarter of 2016, and to ...
Breaking Medicine Technology:
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... June 19, ... the dangers associated with chronic pain and the benefits of holistic treatments, Serenity ... who are suffering with Sickle Cell Disease. , Sickle Cell Disease (SCD) is a ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Pulmonary Hypertension ... that it will receive two significant new grants to support its work to ... its 25th anniversary by recognizing patients, medical professionals and scientists for their work ...
(Date:6/24/2016)... ... June 24, 2016 , ... Dr. ... accelerated orthodontic treatment. Dr. Cheng has extensive experience with all areas of orthodontics, ... and accelerated osteogenic orthodontics. , Micro-osteoperforation is a revolutionary adjunct to orthodontic ...
(Date:6/24/2016)... ... , ... Topical BioMedics, Inc, makers of Topricin and MyPainAway Pain Relief Products, join The ‘Business ... to $12 an hour by 2020 and then adjusting it yearly to increase at the ... minimum wage, assure the wage floor does not erode again, and make future increases more ...
(Date:6/24/2016)... Norcross, Georgia (PRWEB) , ... June 24, 2016 ... ... Year” awards today at the Clinical Decision Making in Emergency Medicine conference in ... who have authored journal articles published in Emergency Medicine Practice and ...
Breaking Medicine News(10 mins):