Pingchuan Signs Regional Distribution Contract With Beijing Pingchuan Tianzhi Medical Technology Development Center
15 June 2005 - 1:00AM
PR Newswire (US)
Pingchuan Signs Regional Distribution Contract With Beijing
Pingchuan Tianzhi Medical Technology Development Center HARBIN,
China, June 14 /Xinhua-PRNewswire-FirstCall/ -- Pingchuan
Pharmaceutical Inc. (OTC:PGCN) (BULLETIN BOARD: PGCN) ('PGCN')
announced today that PGCN signed a Regional Distribution Contract
with Beijing Pingchuan Tianzhi Medical Technology Development
Center ('TIANZHI'), a subsidiary wholly invested by Pingchuan
Pharmaceutical Inc. By the condition of the contract, PGCN
authorized TIANZHI as its exclusive distribution agent for the
health care product -- Kangda'an sugar capsule. The contract
regulates TIANZHI that during the year of 2005, its sales index
will be totaled to 60,000 bottles. Meanwhile, TIANZHI will take the
position of exclusive agent in mainland China (excluding Yunnan,
Guizhou, Sichuan, Hunan, Guangdong, Shanghai, Liaoning, Jilin and
Heilongjiang). With the contract signed, it will bring to PGCN
approximately RMB900,000 in sales revenue. Mr Hu Zhanwu, Chairman
and president of PGCN, said that he was happy to see the contract
signed and it was an effective way to promote the growth of sales
in the areas around Beijing City. 'We chose TIANZHI as our sales
agent for the belief that we are to strive to reach the market
share of 1% - 1.5% for diabetes cure products in two years and
achieve the sales goal of 300,000 bottles per year. Furthermore,
our long-term objective is to make the Kangda'an sugar capsule the
No.1 medicine for diabetes products in the Beijing area.' About
Pingchuan Pharmaceutical Inc. Pingchuan Pharmaceutical Inc.
('PGCN') is a modernized pharmaceutical manufacturer with
first-class medical R&D ability, pioneered medicine products,
and well-established marketing network. Since its establishment,
PGCN has focused its businesses on diabetes medicine and its
medical products. The products of PGCN include health care
products, varieties of medicine, as well as medical apparatus. Kang
Da Glycosuria Capsule is a successful product of PGCN for treating
diabetes, which was first developed in 1998 and introduced to the
market in 2001. PGCN has well-established marketing network and
sale branches, which include about 180,000 retail
pharmacies/drugstores across China, agency network in major cities
like Beijing, Shanghai, Guangzhou, and Xi'an, special counter sale
at drug chain stores in key regions, residence community clinic
sale and promotion, as well as internet marketing through the
company's website. The marketing network of PGCN covers more than
50% districts of China and exports to US, Japan, Russia, and
south-eastern Asia. About Beijing Pingchuan Tianzhi Medical
Technology Development Center Beijing Pingchuan Tianzhi Medical
Technology Development is grouped under Harbin Pingchuan
Pharmaceutical Co., Ltd. in Jan. 2000. It is a wholly-owned
subsidiary of Harbin Pingchuan Pharmaceutical Company. TIANZHI
focuses on dealing with self-produced products, as well as dealing
& distributing other medicines, health cares, pharmaceutical
apparatuses and international trade businesses TIANZHI was
authorized as the exclusive agent for the product of Kangda'an
sugar capsule in Beijing area. By the end of 2004, TIANZHI printed
out its good result that the total number of medicine bottles sold
out was 26,000 and the sales revenue in 2004 was RMB400,000. Safe
Harbor Information in this news release or on this website may
contain statements about future expectations, plans, prospects or
performance of Pingchuan Pharmaceutical Inc. that constitute
forward-looking statements for purposes of the safe harbor
provisions under the Private Securities Litigation Reform Act of
1995. The words or phrases "can be, " "expects," "may affect,"
"believed," "estimate," "project," and similar words and phrases
are intended to identify such forward-looking statements. Pingchuan
Pharmaceutical Inc. cautions you that any forward-looking
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Inc. is not a guarantee of future performance. None of the
information on this website constitutes an offer to sell securities
or investment advice of any kind, and visitors should not base
their investment decisions on information contained in this
website. Pingchuan Pharmaceutical Inc.'s actual results may differ
materially from those anticipated in such forward-looking
statements as a result of various important factors, some of which
are beyond Pingchuan Pharmaceutical Inc.'s control. In addition to
those discussed in Pingchuan Pharmaceutical Inc.'s press releases,
public filings, and statements by Pingchuan Pharmaceutical Inc.'s
management, including, but not limited to, Pingchuan Pharmaceutical
Inc.'s estimate of the sufficiency of its existing capital
resources, Pingchuan Pharmaceutical Inc.'s ability to raise
additional capital to fund future operations, Pingchuan
Pharmaceutical Inc.'s ability to repay its existing indebtedness,
the uncertainties involved in estimating market opportunities and,
in identifying contracts which match Pingchuan Pharmaceutical
Inc.'s capability to be awarded contracts. All such forward-looking
statements are current only as of the date on which such statements
were made. Pingchuan Pharmaceutical Inc. does not undertake any
obligation to publicly update any forward-looking statement to
reflect events or circumstances after the date on which any such
statement is made or to reflect the occurrence of unanticipated
events. DATASOURCE: Pingchuan Pharmaceutical Inc. CONTACT: Xiao Yi
of Pingchuan, +86-10-6347-0270 x101, or mobile, +86-1360-1383-001,
or fax, +86-10-6342-1691, or
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