GUANGZHOU, China, Dec. 1 China Medicine Corporation(OTC Bulletin Board: CHME) ("China Medicine" or "the Company"), a leadingdeveloper and distributor of prescription and over the counter pharmaceuticals,traditional Chinese medicines (TCM), nutritional and dietary supplements, andmedical devices and medical formulations today announced that the Company wasawarded GSP (Good Supply Practice for Pharmaceutical Products) certificationfrom the Guangdong Food and Drug Administration (Guangdong FDA).
The GSP certification is given to pharmaceutical distributors that meetwith the designated quality control systems required by the Guangdong FDA,which evaluates the management of employees, facility, inventory, sales anddistribution systems, as well as product management systems. A stringentquality control system is required by the Chinese government to protect theintegrity of the pharmaceutical industry in China as distributors are mandatedto be GSP certified in order to engage in the pharmaceutical distributionbusiness in China.
In conjunction with China Medicine's success in obtaining the GSPcertification, the Company will also be considered by the Guangdong FDA toinclude dentistry medical devices and instruments, peptide praeparatum andprotein anabolica in its distribution product offering. The Company expectsto receive the official approval in approximately 7 days for theaforementioned products.
"We are honored to have received the GSP certification and we willcontinue to promote and improve our quality control system to ensure thesafety of the pharmaceutical products we distribute to the public," said Mr.Senshan Yang, Chairman and CEO of China Medicine Corporation. "Recently, wemoved our warehouse to one that is double the size of the previous warehouseand is well furnished with state-of-the-art equipment, which includes arefrigeration storage facility. We are confident that our continuouscommitment to high-standard quality control systems will further solidify ourposition as a leading developer and distributor of pharmaceutical products inChina."
About China Medicine Corporation
China Medicine Corporation is a leading pharmaceutical company whichdiscovers, develops, and distributes over 2,300 pharmaceutical products inChina including prescription and over the counter ("OTC") drugs, traditionalChinese medicine ("TCM") products, herbs and dietary supplements. The Companydistributes the products to wholesale distributors in 28 provinces, over 300hospitals, 500 medicine companies, and 1,788 drug stores throughout China.The Company actively develops a number of proprietary products for many usesincluding oncology, high blood pressure and the removal of toxins from foodand animal feeds. For more information visit the Company's website athttp://www.chinamedicinecorp.com .
This press release contains forward-looking statements concerning theCompany's business and products. The Company's actual results may differmaterially depending on a number of risk factors including, but not limited to,the following: general economic and business conditions, obtaining regulatoryapproval for new products, the expected contribution of higher margin products,government support for rural health care, competition from existing and newcompetitors, changes in technology, and various other factors beyond itscontrol. All forward-looking statements are expressly qualified in theirentirety by this Cautionary Statement and the risks factors detailed in theCompany's reports filed with the Securities and Exchange Commission. ChinaMedicine Corporation undertakes no duty to revise or update anyforward-looking statements to reflect events or circumstances after the dateof this release.For more information, please contact: Company Contact: Ms. Huizhen Yu Chief Financial Officer China Medicine Corporation Tel: +1-732-438-8866 Email: [email protected]
Investor Relations Contact: Mr. Crocker Coulson President CCG Investor Relations Tel: +1-646-213-1915 (NY Office) Email: [email protected]
SOURCE China Medicine Corporation