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China Medicine Corporation Receives Manufacturing License for rADTZ
Date:2/1/2011

, rADTZ has the opportunity to become our flagship biological product, marking the Company's rapid transformation into a multi-industry player."

The Company reaffirms its previously announced fiscal 2010 guidance.  The Company continues to expect revenue to be in the range of $68 to $70 million, gross margin in the range of 33% to 38%, and operating expenses in the range of 16% to 18% of revenues.  

For fiscal year 2011, the Company expects that revenue will be in the range of $54 to $58 million, and gross margin will be in the range of 33% to 38%.  The Company anticipates full year operating expenses to represent approximately 22% to 26% of revenue.  This guidance reflects the Company's current and preliminary views, which are subject to change.

Mr. Yang continued, "We expect the fiscal year 2011 will remain challenging due to the combined impact of (i) margin pressure on distributing prescription drugs because of the government's influence on the drug distribution bidding system, (ii) rising prices of certain raw materials used in our proprietary products, and (iii) the execution of our 'high-margin focus' sales strategy for our distribution business.  Furthermore, we will continue expanding the production capacity at LifeTech and ramping up the production and sales for rADTZ.  We are very confident that we will be able to manage through these challenges in 2011 and we will start to realize results from above-mentioned efforts starting in 2012."

About China Medicine CorporationChina Medicine Corporation, a vertically integrated enterprise with a research and development centre, 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 produc
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SOURCE China Medicine Corporation
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