China Medicine Corporation ("CMC", "We" or "Company"), formerly known as Lounsberry Holdings III, Inc., is a Nevada registered corporation, established in 2005. On February 8, 2006, the Company acquired Guangzhou Konzern Medicine Co., Ltd. ("Konzern Medicine") as its wholly owned subsidiary. The Company's name was changed to China Medicine Corporation on May 10, 2006.
We are a comprehensive enterprise with a research and development centre, manufacturing facilities and well established sales network, engages in the production and distribution of prescription and over the counter ("OTC") drugs, traditional Chinese medicine products, herbs and dietary-supplements, medical devices, and medical formulations in China. The Company is developing 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.
As developer of innovative pharmaceutical products, we currently have four patents registered with the State Food and Drug Administration of PRC ("SFDA"), and eleven others pending approval.
CMC's mission is to become a leading research-driven pharmaceutical company in China dedicated to the discovery, development, distribution and manufacturing of pharmaceutical products and nutritional supplements in order to meet customers' needs.
We are proud of our strong research and development capabilities. CMC strives to achieve growth and market leadership through its research and development effort, drug commercialization and selective acquisitions of manufacturing entities.
We believe, with the combination of our experienced management team, advanced technology and capital resources, we have the competitive position in Chinese pharmaceutical market. In addition, we believe that our ability to develop proprietary products through our current research and development efforts will position ourselves to compete successfully with other players in China's pharmaceutical industry.