China Yongxin Pharmaceuticals Inc. to Distribute Medicines on the Essential Drug List
China Yongxin Pharmaceuticals, Inc. (OTC Bulletin Board: CYXN; ‘China Yongxin
Pharmaceuticals’ or ‘the Company’), a leading manufacturer, distributor and
retailer of pharmaceuticals in
completed preparation for distribution of medicines on the Essential Drug List.
The Chinese government recently formalized the nation’s Essential Drug
List which covers pharmaceuticals used to treat up to 80 percent of the most
common diseases in
government’s healthcare reform plan, 90 percent of
covered by a universal healthcare system by the year 2010. Under the plan,
drugs on the National Essential Drugs List will be purchased and distributed
to medical facilities including hospitals, clinics, pharmacies, etc. All
drugs on the List will be covered by the basic insurance plan supported by the
government. The government will invite public bidding for centralized
distribution for essential drugs. Currently, Yongxin distributes 297 products
out of 307 drugs listed on EDL. As one of the top medicine distributors in
launched corresponding business preparation for public bidding and
distribution for the first batch of 138 township hospitals and 11 city
hospitals in
announced before the end of 2009. The winning of first batch will increase
revenues of drug distribution and will help facilitate winning other batches
of hospitals.
“We are pleased to initiate distribution of essential drugs and believe
this presents a significant growth opportunity. The government’s new efforts
to centralize distribution of essential drugs will benefit China Yongxin in
the long-term since we are one of the leading drug distributors in
Officer of China Yongxin. “With our modern logistic center, state-of-art ERP
system and experienced distribution team, we are well positioned to capitalize
this opportunity and contribute to our growth in 2010 and beyond”
About China Yongxin Pharmaceuticals, Inc.
China Yongxin Pharmaceuticals, Inc. was founded in 1993 as the Changchun
Yongxin Dirui Medical Co., Ltd. (Yongxin), a wholesale drug distributor. Its
products include Chinese traditional medicines, pharmaceutical preparations,
natural health products, health food, cosmetics, and medical equipment. It
began retail operations in 2004, and in 2005, it gained franchise rights from
one of the world’s largest drug chains for
of 2007, the Company had become one of the fastest growing pharmaceutical
companies in
wholesale distribution and manufacturing operations in
For more information about China Yongxin Pharmaceuticals, please visit
http://www.yongxinchina.com .
Forward Looking Statements
This news release contains certain “forward- looking statements.”
Forward-looking statements are based on current expectations and assumptions
and are inherently subject to risks and uncertainties, some of which cannot be
predicted or quantified, and many of which are beyond the Company’s control.
The forward-looking statements are also identified through the use of words
“believe,” enable,” “may,” “will,” “could,” “intends,” “estimate,”
“anticipate,” “plan,” “predict” “probable,” “potential,” “possible,” “should,”
“continue,” and other words of similar meaning. Actual results could differ
materially from these forward-looking statements as a result of a number of
risk factors detailed in the Company’s periodic reports filed with the SEC.
Given these risks and uncertainties, investors are cautioned not to place
undue reliance on such forward-looking statements and no assurances can be
given that such statements will be achieved. China Yongxin Pharmaceutical Inc.
does not assume any duty to publicly update or revise the material contained
herein.
For more information, please contact:
Mr. Sam Liu, COO
China Yongxin Pharmaceuticals, Inc.
Tel: +1-626-581-9098
Email: info@yongxinchina.com
SOURCE China Yongxin Pharmaceuticals, Inc.