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Pingchuan Signs Regional Distribution Contract With Beijing
Pingchuan Tianzhi Medical Technology Development Center
HARBIN, China, June 14 /Xinhua-PRNewswire-FirstCall/ -- Pingchuan
Pharmaceutical Inc. (OTC:PGCN) (BULLETIN BOARD: PGCN) ('PGCN') announced
today that PGCN signed a Regional Distribution Contract with Beijing Pingchuan
Tianzhi Medical Technology Development Center ('TIANZHI'), a subsidiary
wholly invested by Pingchuan Pharmaceutical Inc.
By the condition of the contract, PGCN authorized TIANZHI as its exclusive
distribution agent for the health care product -- Kangda'an sugar capsule. The
contract regulates TIANZHI that during the year of 2005, its sales index will
be totaled to 60,000 bottles. Meanwhile, TIANZHI will take the position of
exclusive agent in mainland China (excluding Yunnan, Guizhou, Sichuan, Hunan,
Guangdong, Shanghai, Liaoning, Jilin and Heilongjiang). With the contract
signed, it will bring to PGCN approximately RMB900,000 in sales revenue.
Mr Hu Zhanwu, Chairman and president of PGCN, said that he was happy to see the
contract signed and it was an effective way to promote the growth of sales in
the areas around Beijing City. 'We chose TIANZHI as our sales agent for the
belief that we are to strive to reach the market share of 1% - 1.5% for
diabetes cure products in two years and achieve the sales goal of 300,000
bottles per year. Furthermore, our long-term objective is to make the
Kangda'an sugar capsule the No.1 medicine for diabetes products in the Beijing
area.'
About Pingchuan Pharmaceutical Inc.
Pingchuan Pharmaceutical Inc. ('PGCN') is a modernized pharmaceutical
manufacturer with first-class medical R&D ability, pioneered medicine products,
and well-established marketing network. Since its establishment, PGCN has
focused its businesses on diabetes medicine and its medical products. The
products of PGCN include health care products, varieties of medicine, as well
as medical apparatus. Kang Da Glycosuria Capsule is a successful product of
PGCN for treating diabetes, which was first developed in 1998 and introduced to
the market in 2001. PGCN has well-established marketing network and sale
branches, which include about 180,000 retail pharmacies/drugstores across
China, agency network in major cities like Beijing, Shanghai, Guangzhou, and
Xi'an, special counter sale at drug chain stores in key regions, residence
community clinic sale and promotion, as well as internet marketing through the
company's website. The marketing network of PGCN covers more than 50%
districts of China and exports to US, Japan, Russia, and south-eastern Asia.
About Beijing Pingchuan Tianzhi Medical Technology Development Center
Beijing Pingchuan Tianzhi Medical Technology Development is grouped under
Harbin Pingchuan Pharmaceutical Co., Ltd. in Jan. 2000. It is a wholly-owned
subsidiary of Harbin Pingchuan Pharmaceutical Company. TIANZHI focuses on
dealing with self-produced products, as well as dealing & distributing other
medicines, health cares, pharmaceutical apparatuses and international trade
businesses TIANZHI was authorized as the exclusive agent for the product of
Kangda'an sugar capsule in Beijing area. By the end of 2004, TIANZHI printed
out its good result that the total number of medicine bottles sold out was
26,000 and the sales revenue in 2004 was RMB400,000.
Safe Harbor
Information in this news release or on this website may contain statements
about future expectations, plans, prospects or performance of Pingchuan
Pharmaceutical Inc. that constitute forward-looking statements for purposes of
the safe harbor provisions under the Private Securities Litigation Reform Act
of 1995. The words or phrases "can be, " "expects," "may affect," "believed,"
"estimate," "project," and similar words and phrases are intended to identify
such forward-looking statements. Pingchuan Pharmaceutical Inc. cautions you
that any forward-looking information provided by or on behalf of Pingchuan
Pharmaceutical Inc. is not a guarantee of future performance. None of the
information on this website constitutes an offer to sell securities or
investment advice of any kind, and visitors should not base their investment
decisions on information contained in this website. Pingchuan Pharmaceutical
Inc.'s actual results may differ materially from those anticipated in such
forward-looking statements as a result of various important factors, some of
which are beyond Pingchuan Pharmaceutical Inc.'s control. In addition to those
discussed in Pingchuan Pharmaceutical Inc.'s press releases, public filings,
and statements by Pingchuan Pharmaceutical Inc.'s management, including, but
not limited to, Pingchuan Pharmaceutical Inc.'s estimate of the sufficiency of
its existing capital resources, Pingchuan Pharmaceutical Inc.'s ability to
raise additional capital to fund future operations, Pingchuan Pharmaceutical
Inc.'s ability to repay its existing indebtedness, the uncertainties involved
in estimating market opportunities and, in identifying contracts which match
Pingchuan Pharmaceutical Inc.'s capability to be awarded contracts. All such
forward-looking statements are current only as of the date on which such
statements were made. Pingchuan Pharmaceutical Inc. does not undertake any
obligation to publicly update any forward-looking statement to reflect events
or circumstances after the date on which any such statement is made or to
reflect the occurrence of unanticipated events.
DATASOURCE: Pingchuan Pharmaceutical Inc.
CONTACT: Xiao Yi of Pingchuan, +86-10-6347-0270 x101, or mobile,
+86-1360-1383-001, or fax, +86-10-6342-1691, or