HARBIN, China, June 29 /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 a new biopharmaceutical product, Ginseng and Deer Antler Extract in August 2010. Renhuang estimates that the new product will generate revenues of RMB 3.0 million (approximately $441,000) in fiscal year 2010.
Ginseng and Deer Antler Extract are popular Chinese medicines and have been used for centuries to nourish the blood and the kidneys, restore the body's energy and increase endurance. It is also believed that the compounds work together to promote longevity. Moreover, TCM practitioners employ the ingredients in Renhuang's Ginseng and Deer Antler Extract to balance the body's "Qi" or vital life force. Renhuang brings the advantages of its GMP-certified modern manufacturing processes and state of the art research and development to this trusted remedy.
"We are excited to further expand our product portfolio with another new high-quality, all-natural bio-pharmaceutical product -- our Ginseng and Deer Antler Extract," commented Mr. Shaoming Li, Chairman and Chief Executive Officer of Renhuang. "This is our third new product announcement in 2010, following the successful launch of Qing Re Jie Du Oral Liquid and the recent development of Compound Schisandra Tablets. These new products highlight our R&D strength and our ability to continually cater to the needs of the rapidly expanding Chinese bio-pharmaceutical market. Since there is no clear market leader in this segment, we expect our Ginseng and Deer Antler Extract to be a positive contributor to our revenue growth. We will support this promising new product with a significant marketing effort and aim to establish it as a product of choice for TCM practitioners and consumers."
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 Ginseng and Deer Antler Extract product and achieve its estimated sales estimates, 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.
For more information, please contact: Renhuang Pharmaceuticals, Inc. Ms. Portia Tan, IR Contact Phone: +86-451-8260-2162 Email: firstname.lastname@example.org CCG Investor Relations: Mr. Mark Collinson, Partner Phone: +1-310-954-1343 (Los Angeles) Email: email@example.com Web: http://www.ccgirasia.com Mr. Crocker Coulson, President Phone: +1-646-213-1915 (New York) Email: firstname.lastname@example.org
SOURCE Renhuang Pharmaceuticals, Inc.