KUNMING, CHINA--(Marketwire - November 30, 2011) - First China Pharmaceutical Group, Inc. (OTCBB: FCPG) ("First China" or the "Company"), a rapidly growing and technologically advanced healthcare products distributor based in Yunnan, China, is pleased to announce that its recently acquired government approved Internet Drug Transaction Service License (IDTSL) has resulted in a number of new institutional clients from regions across the nation.
To date, 34 new customers located across 17 provinces have been confirmed. The majority of this initial response has been regional drug distribution companies who quickly realized the obvious benefits in terms of speed, efficiency, cost savings and ease of use available through the Company's online fulfillment system.
Based in Yunnan province, First China now has dramatically extended its reach across these 17 new provinces as well as Xinjiang and Inner Mongolia municipalities, which effectively covers most major areas in China. Upon receipt of the IDTSL the Company quickly saw Guizhou Pharmaceutical Group, Chengdu Heng Xing Pharmaceutical Co., Ltd., Inner Mongolia Jin Li Yuan Pharmaceutical Co., Ltd and Fu Dan affiliated pediatric hospital sign on as the first four subscribers outside Yunnan province and momentum quickly began to build shortly thereafter as marketing efforts began achieving results.
The new IDTSL license complements the Company's existing Internet Drug Information Service License (IDISL) allowing the Company to market and advertise its products along with accepting orders and transacting payments over the internet. These licenses offer the Company broad national exposure to an audience that for the first time can now directly access, submit orders and transact payments for purchases from First China's growing product catalogue over the internet.
First China's integrated processing management system is considerably faster and more effective than conventionally available drug procurement procedures and ensures that each order is securely completed under stringent controls aimed at eliminating false transactions or fraudulent activity. The system is now fully operational and the Company is confident that ongoing national marketing efforts combined with positive customer feedback will ultimately generate significant sales results.
Mr. Wang Zhen Jiang, the Chairman and CEO of the Company, comments, "As we had hoped, this new license is enabling First China to immediately transform from the provincial pharmaceutical distribution marketplace into the national drug distributorship arena. We are enthused by the initial response and rapid adoption, especially given an initially limited marketing budget. As we ramp up our messaging going into 2012, we expect increased awareness and market penetration into areas of the country we would otherwise have taken years to have achieved. To say we are thrilled is an understatement."
Further 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 one of a handful of pharmaceutical distribution companies in Yunnan Province that has obtained government approval to market and fill orders using the internet. First China Pharmaceutical Group plans to continue the rapid growth of the company from its current position as a provider of approximately 7,100 drugs to more than 4,700 pharmacies, hospitals and clinics in China's Yunnan Province. For more information visit: www.firstchinapharma.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development of new business opportunities, acquisition strategies, speed of the processing management system, ability to eliminate false transactions and fraudulent activity, national distribution expansion, growth opportunities, future operations, revenue, profits, gross margins and results of operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
First China Pharmaceutical Group, Inc.
Zhen Jiang Wang
Chairman and CEO