GUANGZHOU, China, Dec. 1 /PRNewswire-Asia/ -- China Medicine Corporation (OTC Bulletin Board: CHME) ("China Medicine" or "the Company"), a leading developer and distributor of prescription and over the counter pharmaceuticals, traditional Chinese medicines (TCM), nutritional and dietary supplements, and medical devices and medical formulations today announced that the Company was awarded GSP (Good Supply Practice for Pharmaceutical Products) certification from the Guangdong Food and Drug Administration (Guangdong FDA).
The GSP certification is given to pharmaceutical distributors that meet with the designated quality control systems required by the Guangdong FDA, which evaluates the management of employees, facility, inventory, sales and distribution systems, as well as product management systems. A stringent quality control system is required by the Chinese government to protect the integrity of the pharmaceutical industry in China as distributors are mandated to be GSP certified in order to engage in the pharmaceutical distribution business in China.
In conjunction with China Medicine’s success in obtaining the GSP certification, the Company will also be considered by the Guangdong FDA to include dentistry medical devices and instruments, peptide praeparatum and protein anabolica in its distribution product offering. The Company expects to receive the official approval in approximately 7 days for the aforementioned products.
"We are honored to have received the GSP certification and we will continue to promote and improve our quality control system to ensure the safety of the pharmaceutical products we distribute to the public," said Mr. Senshan Yang, Chairman and CEO of China Medicine Corporation. "Recently, we moved our warehouse to one that is double the size of the previous warehouse and is well furnished with state-of-the-art equipment, which includes a refrigeration storage facility. We are confident that our continuous commitment to high-standard quality control systems will further solidify our position as a leading developer and distributor of pharmaceutical products in China."
About China Medicine Corporation
China Medicine Corporation is a leading pharmaceutical company which discovers, develops, and distributes over 2,300 pharmaceutical products in China including prescription and over the counter ("OTC") drugs, traditional Chinese medicine ("TCM") products, herbs and dietary supplements. The Company distributes the products to wholesale distributors in 28 provinces, over 300 hospitals, 500 medicine companies, and 1,788 drug stores throughout China. The Company actively develops a number of proprietary products for many uses including oncology, high blood pressure and the removal of toxins from food and animal feeds. For more information visit the Company’s website at http://www.chinamedicinecorp.com .
Cautionary Statement
This press release contains forward-looking statements concerning the Company’s business and products. The Company’s actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, obtaining regulatory approval for new products, the expected contribution of higher margin products, government support for rural health care, competition from existing and new competitors, changes in technology, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in the Company’s reports filed with the Securities and Exchange Commission. China Medicine Corporation undertakes no duty to revise or update any
forward-looking statements to reflect events or circumstances after the date of this release.
