CHANGCHUN, China and LOS ANGELES, May 11 /PRNewswire-Asia/ -- China Yongxin Pharmaceuticals Inc. (OTC Bulletin Board: CYXN) (the "Company" or "China Yongxin"), one of the leading health products company in China, today announced that on March 31st, 2010, the Company's subsidiary, Changchun Yongxin Dirui Medical Co. Inc. ("Yongxin Dirui") was selected as one of the qualified pharmaceuticals distributors for Jilin province of China. According to the new healthcare reform policy of the Chinese government, the distribution of essential drugs must be approved by the provincial government through a public bidding process. China Yongxin, with its strong geographic presence and distribution capability in the northeast region, won distribution rights through this competitive bidding process.
During the previous essential drug supplier bidding in Jilin province, 500 of the 855 suppliers who won the bidding have signed distribution contracts with Yongxin Dirui. China Yongxin hosted a conference with over 100 of the suppliers to further discuss the distribution of products. The government officials in Jilin province healthcare department were also in attendance.
China Yongxin is the largest pharmaceutical company, equipped with state-of-the-art logistic facilities, in Jilin province. China Yongxin has built 8 distribution centers and a distribution team of 58 people in Jilin province and 7 distribution connection centers around Changchun.
Mr. Yongxin Liu, Chairman and CEO of China Yongxin commented, "Becoming a qualified distributor in 2010 for Jilin province in China is expected to significantly enhance Yongxin Dirui's distribution business. We have always been very confident about our advanced distribution system and we look forward to bidding for additional opportunities with other medical networks throughout the country."
About China Yongxin Pharmaceuticals, Inc.
Founded in 1993, China Yongxin is one of the leading retailer and distributor of Chinese traditional medicines, pharmaceutical preparations, natural health products, health food, cosmetics, and medical equipment in northeastern China. Its retail operations began in 2004, and in 2005, it gained franchise rights from one of the world's largest drug chains for China's Jilin province. By the end of 2007, the Company had become one of the fastest growing drug retailers in China through its retail chain of 93 drug outlets as well as wholesale distribution and manufacturing operations in northeastern China. For more information about China Yongxin Pharmaceuticals, Inc., please visit http://www.yongxinchina.com .
Forward Looking Statements
This news release contains certain "forward-looking statements." Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and many of which are beyond the Company's control. The forward-looking statements are also identified through the use of words "believe," enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict" "probable," "potential," "possible," "should," "continue," "project", "expect" and other words of similar meaning. Actual results could differ materially from these forward-looking statements as a result of a number of risk factors detailed in the Company's periodic reports filed with the SEC. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved. China Yongxin Pharmaceuticals Inc. does not assume any duty to publicly update or revise the material contained herein.