At closing,
"The closing of this transaction further augments our ability to execute our growth strategy. With the newly added manufacturing capabilities from the LifeTech Pharmaceuticals Co., Ltd ("LifeTech") acquisition, we are well on our way to becoming a vertically integrated pharmaceutical company with self-manufactured products sold through our extensive distribution network," said Mr. Senshan Yang, Chairman and CEO of China Medicine Corporation.
The Company also announced that Mr.
"We believe Mr. Shih's successful track record, financial acumen and legal expertise will enhance our corporate oversight and governance policies, as well as help us evaluate potential acquisition targets," said Mr. Yang. "I look forward to working with Mr. Shih and the entire board as we execute our growth strategy."
About China Medicine Corporation
China Medicine Corporation is a developer, manufacturer and leading distributor in China of Western pharmaceuticals, traditional Chinese medicine products, other nutriceuticals, medical devices, and medical formulations. The Company also has its research and development force for certain products it manufactures through OEM arrangement and distributes. The Company distributes its products to wholesale distributors including more than 300 hospitals and 500 medicine companies that sell to over 2,000 drug stores in 28 provinces throughout China. The Company actively develops a number of proprietary products for a variety of uses, including oncology, high blood pressure and the removal of toxins from food and animal feeds. For more information visit the Company's website at http://www.chinamedicinecorp.com
Cautionary Statement
This 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, the Company's projections of LifeTech's financial results for the 2009 year that just ended and for 2010 are materially different from the actual results, obtaining regulatory approval for new products, the expected contribution of higher margin products, government support for rural health care, competition from existing and new competitors, changes in technology, the approval of additional capital expenditures/acquisition projects by OEP and board of directors, 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.
For more information, please contact:
Company Contact:
Mr. Robert Lu
Chief Financial Officer
China Medicine Corp.
Tel: +86-20-8739-1718
Email: konzern08@163.com
Investor Relations Contact:
Ms. Lei Huang, Account Manager
CCG Investor Relations
Tel: +1-646-833-3417 (NY Office)
Email: lei.huang@ccgir.com
Web: http://www.ccgirasia.com
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (NY Office)
Email: crocker.coulson@ccgir.com
SOURCE China Medicine Corporation