HARBIN, China, March 11 /PRNewswire-Asia-FirstCall/ -- Renhuang Pharmaceuticals, Inc. (Pink Sheets: RHGP) ("Renhuang"or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM"), announced today that it has recently increased its Shengmai Granules price by 12%. Shengmai Granule is
The price increase followed guidelines set by the National Development and Reform Commission (NDRC), a Chinese government economic panel, in October 2009. The Company increased the price on Shengmai Granules based on continued strong sales volume and market demand for the product.
"While we had assumed a price increase for Shengmai Granules in our outlook, the ability to quickly implement this price increase reinforces our confidence in the fiscal 2010 guidance," said Mr. Shaoming Li, Renhuang's Chairman and CEO. "Renhuang remains committed to delivering the best value proposition for our customers by providing high quality healthcare products and investing in the development of new products to meet patient needs."
ABOUT RENHUANG PHARMACEUTICALS, INC.
Renhuang Pharmaceuticals, Inc. is engaged in the research, development, manufacturing, and distribution of botanical products, bio-pharmaceutical products, and traditional Chinese medicines ("TCM"), in the People's Republic of China. All of the Company's products are produced at its three GMP-certified production facilities in Ah City, Dongfanghong and Qingyang. The Company distributes its botanical anti-depression and nerve-regulation products, biopharmaceutical products, and botanical antibiotic and OTC TCMs through its network of over 3,000 distributors and over 70 sales centers across 24 provinces in China. For more information, please visit the company's website (http://www.renhuang.com ).
Safe Harbor Statement This press release contains certain statements that may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's beliefs, assumptions and expectations of the Company's future operations and economic performance, taking into account the information currently available to management. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties, some of which are not currently known that may cause actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial condition expressed or implied in any forward-looking statements. These forward-looking statements are based on current plans and expectations and are subject to a number of uncertainties including, but not limited to, the Company's ability to continue to increase prices, to meet financial guidance, to manage expansion of its operations effectively, competition in the marketing and sales of its products, and other factors detailed in the Company's annual report on Form 10-K and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented herein.
Company Contact: Renhuang Pharmaceuticals, Inc. Ms. Portia Tan, IR Contact Phone: +86-451-5392-5461 Email: email@example.com Website: http://www.renhuang.com CCG Investor Relations: Ms. Lei Huang, Account Manager Phone: +1-646-833-3417 (New York) Email: firstname.lastname@example.org Website: http://www.ccgirasia.com Mr. Crocker Coulson, President Phone: +1-646-213-1915 (New York) Email: email@example.com
SOURCE Renhuang Pharmaceuticals, Inc.
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