GUANGZHOU, China, July 16 China Medicine Corporation(OTC Bulletin Board: CHME) ("China Medicine" or "the Company"), a leadingdistributor and developer of prescription and over-the-counter pharmaceuticals,traditional Chinese medicines ("TCM"), nutritional and dietary-supplements,medical devices, and medical formulations in the People's Republic of China("PRC"), announced today that it has received a third party feasibility reporton recombinant Aflatoxin Detoxifizyme (rADTZ) from the Feed Research Institute(FRI) of the Chinese Academy of Agricultural Sciences (CAAS).
rADTZ is an innovative new product that has the potential to detoxifyaflatoxin (AFT), a potential cancer causing agent, in food and feed when usedas an additive. The report showed that experiments on baby chickens andpiglets were positive where usage of the rADTZ enzyme in animal feed showedefficacy. Specifically, baby chickens and piglets experienced healthy growthin body and organ weight with rADTZ treated feed. In addition, the immunitysystem of animals in both working groups increased substantially, helping todecrease mortality rates. Based on the documented benefits of rADTZ, aseparate study found that a breeder farm with the capacity of breeding 50million chickens is expected to save up to 35 million RMB ($5.1 million) incosts through using rADTZ.
"With this feasibility report, we have begun trial production of rADTZ andtrial sales will follow very soon in China," said Mr. Senshan Yang, Chairmanand CEO of China Medicine Corporation. "We are also eligible to apply for aproduct permit for rADTZ from the Ministry of Agriculture in China and expectto receive it in approximately six months. With the product permit, rADTZ canbe sold nationally in China. We expect rADTZ to achieve net margins of 70% in2009. We are remain very enthusiastic about the prospects of our novel productand believe rADTZ will become one of the most important contributors to ChinaMedicine's growth in the coming years,"
About China Medicine Corporation
China Medicine Corporation is a leading pharmaceutical company thatdiscovers and develops medical formulations and distributes over 2,400pharmaceutical products in China including prescription and over the counter("OTC") drugs, traditional Chinese medicine products, herbs anddietary-supplements. The Company distributes its products to wholesaledistributors in 28 provinces, more than 300 hospitals, 500 medicine companies,and 1,788 drug stores throughout China. The Company actively develops a numberof proprietary products for a variety of uses, including oncology, high bloodpressure and the removal of toxins from food and animal feeds. For moreinformation visit the Company's website at http://www.chinamedicinecorp.com .For more information, please contact: Company Contact: Ms. Huizhen Yu Chief Financial Officer China Medicine Corp Tel: +86-20-8739-1718 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