Navigation Links
China Medicine Corporation Appoints PricewaterhouseCoopers As Independent Auditor To Audit Results For Fiscal Years 2006 - 2010
Date:9/27/2011

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 http://www.cmc621.com. 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:
*Name:
*Comment:
*Email:
(Date:5/8/2017)... , May 8, 2017 MACRA ... transition from fee for service reimbursement. Black Book Research ... 1.       The Market for MIPS Compliance ... 77% of physician practices with 3 or more clinicians ... Solutions by Q4. "Given the magnitude of the changes, ...
(Date:5/6/2017)... , May 5, 2017   Provista , a proven ... than 200,000 customers, today announced Jim Cunniff as ... of executive and business experience to Provista, including most recently ... in California . He assumed his new ... is a great fit for Provista," says Jody Hatcher ...
(Date:5/6/2017)... FALLS, N.Y. , May 5, 2017  Hill-Rom ... that will add approximately 100,000 square feet to its ... in September 2016 its commitment to bring more than ... , where Welch Allyn has maintained a significant ... will help accommodate these new positions, a large portion ...
Breaking Medicine Technology:
(Date:5/22/2017)... ... May 22, 2017 , ... An inventor from Columbia, ... a pen. "My wife’s hand was damaged in a firework accident, so she couldn’t ... people with manual problems." , He then designed and created a prototype for the ...
(Date:5/22/2017)... ... May 22, 2017 , ... Faithfully following pop culture, ... squatted, stretched, jumped, toned and shaped through fitness programs. It carries on to skin ... finished off with an irresistible, radiant smile. CDA has found that just ...
(Date:5/21/2017)... ... May 19, 2017 , ... Chris Cornell, 52, was found dead on the night of ... the most respected lead singers in the rock industry would take his own life, but ... FindaTopDoc investigates how mental illness played a role in the death of Chris Cornell ...
(Date:5/21/2017)... CA (PRWEB) , ... May 20, 2017 , ... ... paragraph styled corporate text designs created specifically for use in Final Cut Pro ... process for all media productions. Pixel Film Studios’ ProParagraph Corporate will deliver a ...
(Date:5/21/2017)... ... 2017 , ... Florida Pain Relief Group, a division of Physician Partners of ... Silver Palm Ave., Melbourne, on Monday, May 22. Initially the clinic will be supervised ... practice, PPOA operates 23 pain management clinics in Florida and the Dallas-Fort Worth, Texas ...
Breaking Medicine News(10 mins):