Strives to broaden scope of new medicine research and development
HONG KONG, Dec. 16, 2010 /PRNewswire-Asia/ -- Shandong Luoxin Pharmacy Stock Co., Ltd. ("Luoxin Pharma" or the "Company" or collectively with its subsidiaries the "Group", HKEx: 8058 / OTCQX: SLUXY), one of the leading PRC pharmaceutical enterprises, announced that it has confirmed the construction of its new plant "Yuxin" in order to satisfy the huge demand for medicine in the future.
"Yuxin" factory is located next to the Linyi headplant of Luoxin Pharma in Shangdong Province, with a site area of 200 acres and gross floor area of 250,000 square meters. The production plant is composed of 3 different areas: the office area, R&D area and production area. The total investment in the production plant is approximately RMB 900 million in the coming few years. The first phase of construction is expected to be completed in October 2011 and the second phase will start in 2012. The transfusion and liquid injectables production lines will be included in the newly invested production line.
Mr. Liu Baoqi, Chairman of Luoxin Pharma, said, "The set up of the Yuxin production plant is part of our strategic plan. It helps strengthen our production capability in order to meet the rising demand for medicine. It also helps us broaden the scope for research and development of new medicine efficiently. The completion of the new factory will definitely enhance the Company's competitive advantage in products, which in turn helps us achieve a strong business growth."
Apart from the establishment of the new plant, the Company has been recognized for its scientific research and platform development in 2010 and has made breakthroughs in these areas. The company has been honored with the "Key New Drug Creation and Manufacturing" scientific award, included in the study on the National Key Sci-Tech Special Project "Technological Transformation of Major Drug Categories" under the 2011 Twelfth Five-Year Plan – The Redevelopment of Technology for Key New Drug. The company has obtained more than 40 licenses with its continuous efforts. More than 20 licenses are still pending approval.
Over these years, the company has been cooperating actively with a number of different institutes and scientific research firms. It established "Shenyang Medical University Luoxin Pharmacy Postdoctoral Research Workstation" early in 2008. With this foundation, the Company was also granted the approval for the establishment of "The Nation's Postdoctoral Research Workstation". This has further enhanced our ability in research and invention.
Mr. Liu Baoqi concluded: "Thanks to the community for showing us confidence and support. We are honored to receive those key awards, which are a recognition to Luoxin by our investors and the market in a number of aspects including medicine invention, product quality and business strategies. We endeavor to move ahead and further upgrade our scientific technology and product quality. Looking ahead, we will continue to allocate resources to scientific research and strive to develop more advanced medicine. We will also keep boosting our competitiveness and further enhance our brand recognition to build "Luoxin" into a globally renowned pharmaceutical brand. We insist to offer high quality products, favorable prices and excellent services to our customers."
About Shandong Luoxin Pharmacy Stock Co., Ltd.
Luoxin Pharma has been listed on the GEM of the Stock Exchange of Hong Kong Limited since 9 December 2005. The Company was recognized as one of the "Top Ten Pharmaceutical Enterprises with Growth Potential" and named as one of the "Top 100 Pharmaceutical Companies in China" since 2006. It was also selected on the "List of Small and Medium-sized Enterprises in China with Most Potentials" by Forbes for three consecutive years. The Company is principally engaged in the development, manufacturing and sale of different types of prescription and OTC (over-the-counter) medicines in 4 major categories: (1) antibiotics, including Cephalosporines antibiotics, Quinolones antibiotics and Macrolides antibiotics; (2) anti-viral medicines; (3) system-specific medicines, including digestive system medicines, cardiovascular system medicines and respiratory system medicines; (4) other chemical medicines, including Antineoplastic medicines. The Company's production facilities are located in the High and New Technology Experimental Zone, Linyi, Shandong Province, the PRC, and has obtained all required production permits as well as GMP certification. Its sales and marketing networks cover 27 provinces and 4 municipalities in the PRC.
Issued by Porda International (Finance) PR Group for and on behalf of Shandong Luoxin Pharmacy Stock Co., Ltd.
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