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Global Pharm Holdings Group Announces First Quarter 2011 Financial Results
Date:5/16/2011

lopment Co., Ltd" ("Anhui Sino-Green"). Global Pharm's Hong Kong subsidiary, Hong Kong Wisdom Fortune Medicine Holding Group Ltd. (Wisdom Fortune) together with Anhui Qianyi Pharmaceutical Co., Ltd. ("Qianyi Pharmaceutical"), a PRC company, established the Anhui Sino-Green in Bozhou City, Anhui Province with the registered capital of $10 million. Wisdom Fortune will invest $9.7 million and Qianyi Pharmaceutical will invest $0.3 million, which reflects 97 percent and 3 percent of the ownership of Anhui Sino-Green, respectively. The Company is required to pay approximately $1.5 million registered capital by July 6, 2011 and $8.2 million by April 6, 2013. The Company will fund the registered capital from working capital.

Business Outlook"We are pleased with our first quarter performance of the pharmaceutical distribution business, especially in the Shandong province. Following the rapid development of the pharmaceutical market in China, we expect to sustain our organic growth by continuing our market development to broaden our customer bases, enhancing our distribution process to improve operating efficiency, increasing marketing efforts, increasing coordination with suppliers and manufacturers and expanding our product portfolio. In addition, we plan to effectively utilize the purchasing power supported by the strategic alliance between our distribution business and our pharmaceutical manufacture suppliers in the Shandong province in order to obtain more attractive procurement prices and value-added services from pharmaceutical manufactures," said Mr. Yin.

For the remaining quarters of 2011, we expect to continue our acquisition efforts by targeting several city-level distributors in the Shandong province. The purpose of this consolidation effort is to reduce the incumbent distribution tiers and lower the price mark-up of pharmaceuticals. Moreover, with support from the Bozhou Municipal Government and the Mashan Town Government of Jinan City, we exp
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SOURCE Global Pharm Holdings Group, Inc.
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