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.
-- The Company To Reduce The Size of Its Board --
GUANGZHOU, China, Sept. 27, 2011 /PRNewswire-Asia/ -- China Medicine Corporation (Other OTC: CHME.PK) (the "Company"), a leading manufacturer, developer and distributor of Western pharmaceuticals, traditional Chinese medicines ("TCM"), and other health products in the People's Republic of China, today announced that it has appointed PricewaterhouseCoopers (“PwC”) as the Company’s independent registered public accounting firm to audit its financial results for fiscal years 2006 to 2010, effective September 21, 2011. PwC will audit the Company's consolidated financial statements for fiscal years ended December 31, 2006, 2007, 2008, 2009 and 2010, and review the Company's unaudited quarterly financial statements within the fiscal years 2006, 2007, 2008, 2009 and 2010. The appointment of PwC has been approved by the Audit Committee of the Company's board of directors.
Mr. Senshan Yang, Chairman and CEO of China Medicine Corporation, stated, "We are very pleased to have PwC as our new independent auditor. The addition of a Big Four audit firm signifies our commitment to the highest standards of corporate governance, in financial reporting, integrity and transparency. We look forward to working with PwC to serve the best interests of our shareholders."
In addition, the Company's board of directors voted to reduce the size of the board of directors from seven directors to five directors in an attempt to streamline decision-making within the Company. In conjunction with this vote, two of the Company's existing directors, Mr. Sean Shao and Ms. Minhua Liu, informed the board of directors of their resignation from the board of directors, effective September 30, 2011. Two existing independent directors, Mr. Ryan Shih and Mr. Daniel Shih, will replace Mr. Shao as a member of the Audit Committee and as a member of the Compensation Committee of the Board, respectively.
About China Medicine Corporation
China Medicine Corporation, a vertically integrated enterprise with a research and development center, manufacturing facility and well established sales network, engages in the production and distribution of prescription and over the counter 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 indications, including oncology, high blood pressure and toxin removal from food and animal feeds. For more information, please visit the Company's website at http://www.cmc621.com. The Company routinely posts important information on its website.
Safe-Harbor Statement
This press release contains forward-looking statements concerning the Company's business and products. The Company's actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, obtaining regulatory approval for new products, government support for rural health care, competition from existing and new competitors, changes in technology, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this cautionary statement and the risk factors detailed in the Company's reports filed with the Securities and Exchange Commission. China Medicine Corporation undertakes no duty to revise or update any forward-looking statement to reflect events or circumstances after the date of this release except as required by applicable law or regulation.
Contact Information |
|
ICR, Inc. |
|
In New York: Ms. Christine Duan: 1-203-682-8200 |
|
In Beijing: Ms. Wen Lei Zheng: 86-10-6599-7968 |
|
- 2011-09-27China Medicine Corporation Appoi...
- 2011-08-22China Medicine Corporation Dismi...
- 2011-07-08China Medicine Corporation To R...
- 2011-03-23China Medicine Corporation Volun...
-
Category: Proprietary Dietary Supplement
Main Active Ingredients:L-carnitine, hydroxycitric acid
Indication:Weight management
Product Highlights:1. Promotes weight loss
2. Helps maintain lipid levels
3. Improves health fundamentally — helps promote the energy consumption; balancing and maintaining normal cholesterol, blood sugar and blood pressure level. And available to people who have coronary artery disease and diabetes together.
-
Category: Proprietary Dietary Supplement
Main Active Ingredients:hoelen, dioscorea root, lotus seed, gordon euryale, hawthorn, villous amomum fruit, muscade, and semen raphani
Indication:This specially formulated tea reduces the effects caused by a weak spleen or stomach, such as fatigue, anorexia, and dyspepsia.
Product Highlights:1. Help to regulate the body’s energy
2. Suitable for both children and adults
3. Extracted from natural plants
-
Category: Proprietary Dietary Supplement
Main Active Ingredients:chrysanthemum, elsholtziae, agastache rugosa, honeysuckle, lophatherum herb, and peppermint
Indication:
This specially formulated tea helps to support the immune system.
Product Highlights:1. Suitable for both children and adults
2. Extracted from natural plants
3. Ideal drink in late spring, early summer and midsummer
-
Category: Proprietary Dietary Supplement
Main Active Ingredients:L-carnitine, hydroxycitric acid
Indication:Weight management
Product Highlights:1. Promotes weight loss
2. Helps maintain lipid levels
3. Improves health fundamentally — helps promote the energy consumption; balancing and maintaining normal cholesterol, blood sugar and blood pressure level. And available to people who have coronary artery disease and diabetes together.
- 1
- 2
- 3
- 4
- 5
- 2013-03-25Development of Aflatoxin B1-detox...