First China Pharmaceutical Group, Inc. (OTCBB: FCPG) (“First China” or the “Company”), a rapidly growing pharmaceutical distribution company headquartered in Yunnan, China, is pleased to announce the signing of a second exclusive drug distribution agreement further extending its vertical markets and regional penetration alongside resultantly notable revenue increases.
The agreement with Changzhou Pharmaceutical Co. Ltd (“Changzhou”) of Changzhou city, Jiangsu Province permits First China to act as the exclusive distributor for the specialty drug Enalaprilat, a treatment for high blood pressure used in the treatment of hypertension and some types of chronic heart failure.
The product will be available to member hospitals and clinics across China within the next 30 days. Initial estimates target sales at over US$1 million annually with the potential for significant growth as the Company extends its market base in China.
First China’s Chairman and CEO Zhen Jiang Wang stated, “We view the inclusion of exclusive drug sales as a high priority category for our Company. Working directly with the manufacturer allows us to maximize efficiencies that would otherwise be limited by dealer network constraints. Once again our business model shows its value as we remove unnecessary and costly layers between the manufacturer and end user. We are putting our online ordering and logistics management expertise to work across the entire distribution chain, thereby reducing cost and creating savings, new growth opportunities and revenues. We are working hard to include other manufacturers interested in taking advantage of this winning scenario.”
First China is buoyed by its successful and rapid penetration into the growing drug distribution marketplace in China and is committed to the further development of territorial expansion, joint partnerships, key acquisitions and innovative strategies to drive the Company towards achieving a leadership role in the industry.
Details of the company’s business, finances, appointments and agreements can be found as part of the Company’s continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission’s (“SEC”) EDGAR database.
About First China Pharmaceutical Group, Inc. (OTCBB: FCPG)
First China Pharmaceutical Group, Inc. aims to develop a high growth pharmaceutical distribution company generating significant revenue from the sale of healthcare products in China. As part of its business strategy, the Company has acquired the assets of Kun Ming Xin Yuan Tang Pharmacies Co. Ltd. (XYT), which includes a strategic advantage over its competitors as it is believed to be one of a limited number of pharmaceutical distribution companies in Yunnan Province that has obtained government approval to fulfill orders over the internet. First China Pharmaceutical Group plans to continue the rapid growth of the company from its current position as a provider of approximately 5,000 drugs to more than 4,700 pharmacies, hospitals and clinics in China’s Yunnan Province. For more information visit: www.firstchinapharma.com
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