HARBIN, China, June 15 /PRNewswire-Asia-FirstCall/ -- Renhuang Pharmaceuticals, Inc. (Pink Sheets: RHGP) ("Renhuang" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM"), today announced that the Company has been selected by China's State Food & Drug Administration (SFDA) to establish a set of standards that will guide the production of Siberian Ginseng (Acanthopanax) Tablets –based products in China.
The SFDA recently launched a series of initiatives to enhance the overall quality and safety of drugs produced in China. Renhuang, the market leader in Siberian Ginseng products, was selected to lead the efforts in the development of guidelines for all Chinese producers of medicinal products derived from the Siberian Ginseng plant. The Heilongjiang drug inspection authority will also cooperate with the Company on this project to ensure timely completion of the new industry production standards.
Siberian Ginseng–based products are the Company's flagship products and have proven benefits, including anti-depressant, nerve regulating and sleep improvement qualities. Through its agreement with Dongfanghong Forestry Bureau, Renhuang effectively controls 70% of the plant's natural supply in China and has focused on developing innovative new remedies from Siberian Ginseng plants over the years and improving extraction and production techniques.
"We are honored to be chosen by the SFDA to set the highest production and quality standards for Siberian Ginseng products in China that will help to ensure the safety of all consumers," said Mr. Shaoming Li, Chairman and Chief Executive Officer of Renhuang. "Depression and anxiety are serious public health concerns and growing awareness of Siberian Ginseng-based medications as safe and effective remedies is of vital importance. We believe that selection by the SFDA to lead this effort is a reflection of Renhuang's long market leadership and track record of remaining focused on safe, high-quality Siberian Ginseng products."
ABOUT RENHUANG PHARMACEUTICALS, INC.
Renhuang Pharmaceuticals, Inc. is engaged in the research, development, manufacturing, and distribution of botanical products, bio-pharmaceutical products, and traditional Chinese medicines ("TCM"), in the People's Republic of China. All of the Company's products are produced at its three GMP-certified production facilities in Ah City, Dongfanghong and Qingyang. The Company distributes its botanical anti-depression and nerve-regulation products, biopharmaceutical products, and botanical antibiotic and OTC TCMs through its network of over 3,000 distributors and over 70 sales centers across 24 provinces in China. Company Website: www.renhuang.com.
Safe Harbor Statement
This press release contains certain statements that may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's beliefs, assumptions and expectations of the Company's future operations and economic performance, taking into account the information currently available to management. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties, some of which are not currently known that may cause actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial condition expressed or implied in any forward-looking statements. These forward-looking statements are based on current plans and expectations and are subject to a number of uncertainties including, but not limited to, the Company's expectations of Siberian Ginseng products and their benefits, ability to manage expansion of its operations effectively, and other factors detailed in the Company's annual report on Form 10-K and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented herein.
CCG Investor Relations:
Renhuang Pharmaceuticals, Inc.
Ms. Portia Tan, IR Contact
Ms. Lei Huang, Account Manager
Phone: +1-646-833-3417 (New York)
Mr. Crocker Coulson, President
Phone: +1-646-213-1915 (New York)
SOURCE Renhuang Pharmaceuticals, Inc.