GUANGZHOU, China, Jan. 5 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,medical devices and medical formulations, announced today that it has renewedits contract with CCG Investor Relations for a primary term of one yearcommencing on January 1, 2009.
"After one year of service, we are happy to renew our contract and haveCCG Investor Relations continue to design and execute our investor relationscampaign," said Mr. Senshan Yang, Chief Executive Officer of China Medicine."We are looking forward to utilizing CCG's full set of services to furtherraise our visibility in the investment community and support the rollout ofrecombinant Aflatoxin Detoxifizyme (rADTZ), our innovative product that hasthe potential to detoxify aflatoxin (AFT), a potential cancer causing agent,in food and feed."
China Medicine operates through its 100%-owned subsidiary, GuangzhouKonzern Pharmaceutical Company Ltd. ("Konzern"). In addition to maintainingits status as a leading distributor of pharmaceuticals in China, the Companyhas transformed itself into an innovative developer of Chinese pharmaceuticalsand proprietary formulas. After the success of a reverse merger of Konzerninto a public shell company in 2006, the Company ventured into research anddevelopment by establishing Guangzhou Co-win Bioengineering Co., Ltd. withGuangzhou Ji'nan Science & Technology Industrial Group and Mr. Dongsheng Yao,in which the Company, through Konzern, owns 70% equity interest. The rADTZproject has received a government grant and will continue to receive financialsupport from the government as one of "863" key projects startingcommercialization after more than ten years of research and incubation.
"The harmful threat of aflatoxins presents an opportunity for ChinaMedicine to increase the quality and standard of animal feed and human food,"commented Crocker Coulson, President of CCG Investor Relations. "We intend todevelop a well-orchestrated investor relations program to enhance ChinaMedicine's profile in the investment community and will also assist theCompany in educating investors about its new product strategy and line ofinnovative products."
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. TheCompany 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 . Those who are interested in ADTZ could goto the website and read the white paper under R&D section.
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: +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