SHENZHEN, China, Sept. 8 /PRNewswire-Asia-FirstCall/ -- Tongjitang Chinese Medicines Company (the "Company" or "Tongjitang") (NYSE: TCM), a leading specialty pharmaceutical company focusing on the development, manufacturing, marketing and selling of modernized traditional Chinese medicine in China, today announced that on September 3, 2010, Mr. Charles Wang submitted his resignation as Chief Financial Officer for personal reasons and not as a result of any disagreement with the Company regarding financial or accounting practices. The resignation will be effective on December 2, 2010.
Mr. Charles Wang is expected to stay with the company until December. The Company has commenced an executive search in order to find a replacement.
Xiaochun Wang, Tongjitang's Chief Executive Officer and Chairman of the Board of Directors, stated, "On behalf of the Board, management, and employees of our company, I'd like to thank Mr. Charles Wang for his dedication and contribution to Tongjitang over the past two years and wish him all the best on his future endeavors."
About Tongjitang Chinese Medicines Company
Tongjitang Chinese Medicines Company, through its operating subsidiaries Tongjitang Pharmaceutical, Tongjitang Distribution, Tongjitang Chain Stores, Guizhou Long-Life Pharmaceutical Company Limited, Qinghai Pulante, Anhui Jingfang and Gui Liqour Ltd., is a vertically integrated specialty pharmaceutical company focused on the development, manufacturing, marketing and selling of modernized traditional Chinese medicine in China. Tongjitang's principal executive offices are located in Shenzhen, China.
Tongjitang's flagship product, Xianling Gubao, is the leading traditional Chinese medicine for the treatment of osteoporosis in China as measured by sales in Renminbi. In addition to Xianling Gubao, the Company manufactures and markets 35 other modernized traditional Chinese medicine products and 36 western medicines. Please visit http://www.tongjitang.com for more information.
For more information, please contact:
ICR, Inc.
Ashley M. Ammon or Christine Duan
Phone: +1-203-682-8200 (Investor Relations)
