HARBIN, China, June 22 /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 plans to launch its new all-natural anti-depressant and nerve regulation product - Compound Schisandra Tablets ("Schisandra Tablets"), a single plant based medicine, in July 2010. Renhuang estimates that Schisandra Tablets will generate revenues of RMB 3.0 million (approximately $44,000) in fiscal year 2010.
Schisandra, also known as magnolia vine, has been clinically proven to have significant benefits to the functioning and regulation of the central nervous system and for upper body respiration. According to China Pharmacopoeia, Schisandra is used as a remedy for many ailments, such as: to generate body fluids and alleviate thirst, nourish the kidneys, cure insomnia and palpitations, and is also widely used as treatment for neurasthenia (a term most commonly used in Traditional Chinese medicine to denote a complex of symptoms characterized by chronic fatigue and weakness, loss of memory, and generalized aches and pains).
"Compound Schisandra Tablets are an exciting new plant-based anti-depressant and nerve regulation product, which complements our existing product portfolio, provides additional revenue generation opportunities and strengthens our leading market position in this important and rapidly growing market segment," commented Mr. Shaoming Li, Chairman and Chief Executive Officer of Renhuang. "We plan to extensively promote this new product to instill strong market acceptance amongst our target audience. We expect Schisandra will generate RMB 10.0 million (approximately $1.5 million) in revenue in fiscal year 2011."
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: http://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 ability to expand its new Compound Schisandra Tablets, achieve its estimated sales and net income estimates for Compound Schisandra Tablets, 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.
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SOURCE Renhuang Pharmaceuticals, Inc.