GUANGZHOU, China, July 16 /PRNewswire-Asia/ -- China Medicine Corporation (OTC Bulletin Board: CHME) ("China Medicine" or "the Company"), a leading distributor and developer of prescription and over-the-counter pharmaceuticals, traditional Chinese medicines ("TCM"), nutritional and dietary-supplements, medical devices, and medical formulations in the People's Republic of China ("PRC"), announced today that it has received a third party feasibility report on recombinant Aflatoxin Detoxifizyme (rADTZ) from the Feed Research Institute (FRI) of the Chinese Academy of Agricultural Sciences (CAAS).
rADTZ is an innovative new product that has the potential to detoxify aflatoxin (AFT), a potential cancer causing agent, in food and feed when used as an additive. The report showed that experiments on baby chickens and piglets were positive where usage of the rADTZ enzyme in animal feed showed efficacy. Specifically, baby chickens and piglets experienced healthy growth in body and organ weight with rADTZ treated feed. In addition, the immunity system of animals in both working groups increased substantially, helping to decrease mortality rates. Based on the documented benefits of rADTZ, a separate study found that a breeder farm with the capacity of breeding 50 million chickens is expected to save up to 35 million RMB ($5.1 million) in costs through using rADTZ.
"With this feasibility report, we have begun trial production of rADTZ and trial sales will follow very soon in China," said Mr. Senshan Yang, Chairman and CEO of China Medicine Corporation. "We are also eligible to apply for a product permit for rADTZ from the Ministry of Agriculture in China and expect to receive it in approximately six months. With the product permit, rADTZ can be sold nationally in China. We expect rADTZ to achieve net margins of 70% in 2009. We are remain very enthusiastic about the prospects of our novel product and believe rADTZ will become one of the most important contributors to China Medicine's growth in the coming years,"
About China Medicine Corporation
China Medicine Corporation is a leading pharmaceutical company that discovers and develops medical formulations and distributes over 2,400 pharmaceutical products in China including prescription and over the counter ("OTC") drugs, traditional Chinese medicine products, herbs and
dietary-supplements. The Company distributes its products to wholesale distributors in 28 provinces, more than 300 hospitals, 500 medicine companies, and 1,788 drug stores throughout China. The Company actively develops a number of proprietary products for a variety of 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 .
For more information, please contact:
Company Contact:
Ms. Huizhen Yu
Chief Financial Officer
China Medicine Corp
Tel: +86-20-8739-1718
Email: konzern08@163.com
Investor Relations Contact:
Mr. Crocker Coulson, President
CCG Investor Relations
Tel: +1-646-213-1915 (NY Office)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
