Pingchuan Signs Purchase Agreement With Guangdong Medicine Group
12 July 2005 - 12:30AM
PR Newswire (US)
Pingchuan Signs Purchase Agreement With Guangdong Medicine Group
HARBIN, China, July 11 /Xinhua-PRNewswire-FirstCall/ -- Harbin
Pingchuan Pharmaceutical Holding Co. Ltd. (OTC:PGCN) (BULLETIN
BOARD: PGCN) ('PINGCHUAN') announced today that PINGCHUAN signed a
Purchase Agreement with the Guangdong Medicine Group Co. Ltd.
('GDMG'). Under the terms of the agreement, PINGCHUAN will
authorize GDMG as its franchisee in five southern provinces of
China. With respect to the authorization, GDMG intends to purchase
approximately US$2.00million worth of PINGCHUAN's pharmaceutical
products in 2005. By cooperating with GDMG, PINGCHUAN will greatly
enhance the marketing network and sales channels in Southern China.
'We are delighted to reach this agreement with the leading medical
enterprise in Southern China. This purchase agreement not only
increases our sales revenue in these five provinces, but also
substantially improves our brand awareness in Southern China. While
maintaining the existing marketing network, we are developing and
setting up new marketing network and sales channel actively.' Said
Hu ZhanWu, Chairman and President of Pingchuan Pharmaceutical Co.
Ltd., 'One of our marketing strategies is to establish a connection
with medical enterprises such as Guangdong Medicine Group, for the
promotion of our products into their commercial networks throughout
the entire country.' About Pingchuan Pharmaceutical Inc. Pingchuan
Pharmaceutical Inc. ('PINGCHUAN') is a modernized pharmaceutical
manufacturer with first-class medical R&D abilities, pioneered
medicine products, and well-established marketing networks. Since
its establishment, PINGCHUAN has focused its businesses on diabetes
medicine and its medical products. The products of PINGCHUAN
include health care products, varieties of medicine, as well as
medical apparatus. Kang Da Glycosuria Capsule is a successful
product of PINGCHUAN for treating diabetes, which was first
developed in 1998 and introduced to the market in 2001. PINGCHUAN
has a well-established marketing network and sale branches, which
include about 180,000 retail pharmacies/drugstores across China,
agency networks in major cities like Beijing, Shanghai, Guangzhou,
and Xi'an, special counter sales at drug chain stores in key
regions, residential community clinic sales and promotions, as well
as internet marketing through the company's website. The marketing
network of PINGCHUAN covers more than 50% of China and exports to
the U.S., Japan, Russia, and South-east Asia. About Guangdong
Medicine Group Co. Ltd. Guangdong Medicine Group Co. Ltd. (GDMG) is
a large-scale state-owned pharmaceutical enterprise headquartered
in Guangzhou. It owns a nationwide marketing network, which
includes the operative places and outlet stores of 130,000 square
meters and 330 Bencao Medicine Chain Stores. GDMG also runs three
pharmaceutical enterprises, and controls 20 associate enterprises.
According to the latest statistics, the sales revenue for the first
two months in 2005 of GDMG ranked No.1 in China. The company
successfully caught up with and, surpassed the performance of its
main rivals such as Harbin Pharmaceutical Group, North China
Pharmaceutical Group and Yangtze River Pharmaceutical Group. Safe
Harbor Information in this news release or on this website may
contain statements about future expectations, plans, prospects or
performance of Harbin Pingchuan Pharmaceutical Holding Co. Ltd.
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.
Harbin Pingchuan Pharmaceutical Holding Co. Ltd. cautions you that
any forward- looking information provided by or on behalf of Harbin
Pingchuan Pharmaceutical Holding Co. Ltd. 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. Harbin Pingchuan
Pharmaceutical Holding Co. Ltd.'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 Harbin Pingchuan Pharmaceutical Holding Co. Ltd.'s
control. In addition to those discussed in Harbin Pingchuan
Pharmaceutical Holding Co. Ltd.'s press releases, public filings,
and statements by Harbin Pingchuan Pharmaceutical Holding Co.
Ltd.'s management, including, but not limited to, Harbin Pingchuan
Pharmaceutical Holding Co. Ltd.'s estimate of the sufficiency of
its existing capital resources, Harbin Pingchuan Pharmaceutical
Holding Co. Ltd.'s ability to raise additional capital to fund
future operations, Harbin Pingchuan Pharmaceutical Holding Co.
Ltd.'s ability to repay its existing indebtedness, the
uncertainties involved in estimating market opportunities and, in
identifying contracts which match Harbin Pingchuan Pharmaceutical
Holding Co. Ltd.'s capability to be awarded contracts. All such
forward-looking statements are current only as of the date on which
such statements were made. Harbin Pingchuan Pharmaceutical Holding
Co. Ltd. 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 Pharmaceutical
Inc., +86-10-6347-0270 x101, or
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