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PolyGel Signs Long Term Exclusive Agreement With China's Largest Distributor of Healthcare Products
Date:7/26/2011

WHIPPANY, N.J., July 26, 2011 /PRNewswire/ -- PolyGel, the manufacturer of Orthopedic, Therapy and Skin Care Products, has signed a long term exclusive distribution agreement with China National Pharmaceutical Foreign Trade Corporation (Sinopharm Foreign Trade). Based in Beijing, China, Sinopharm Foreign Trade is a wholly-owned subsidiary of China National Pharmaceutical Group Corporation (SINOPHARM Group).

(Photo:  http://photos.prnewswire.com/prnh/20110726/NY40954 )

The Sinopharm Group is the largest distributor of pharmaceutical and healthcare products in China, with 2010 revenues of over 69.2 billion RMB (approximately $10.45 billion US).

Sinopharm's motto of "Caring for Life-Attending to Health" is a good match for PolyGel's motto of "Improving Well Being". By working together, new Sinopharm/Poly Gel programs and products will be developed and sold into the pharmacy, professional, medical, consumer and Internet market channels across China.

The GDP of China has surpassed Japan to become the second largest economy in the world in 2010. Driven by the continuous increase in national medical and healthcare expenditures, the government's further investment in the medical and healthcare sectors and the effects of medical reform in China, this market will continue to experience rapid growth.

About Diabetes in China

An important part of the PolyGel program will focus on the growing population of diabetics in China. According to a study published in the March 25, 2010 edition of the New England Journal of Medicine, China now has more people with diabetes than any other country in the world, with more than 92 million adults diagnosed with diabetes and another 150 million more are on their way to developing it.

PolyGel's innovative orthopedic and skin care products incorporate proprietary gel formulations, textiles and materials. PolyGel is w
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SOURCE PolyGel
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