HARBIN, June 29 /Xinhua-PRNewswire-FirstCall/ -- Pingchuan Pharmaceutical Inc. (''PINGCHUAN'') announced today that it has signed a Purchase and Sale Agreement with Sinopharm Medicine Holding Tianjin Co., Ltd (''SINOPHARM TIANJIN'').
Based on the agreement, PINGCHUAN authorizes SINOPHARM TIANJIN to be its non-exclusive franchisee in the metropolitan area of Tianjin. Also, SINOPHARM TIANJIN will purchase medicines produced by PINGCHUAN, totaling RMB5 million, and provide relevant information on production, marketing, clients, network and promotional activities.
''After signing the contract, we have great confidence in our ability to increase our medicine sales market from our existing market coverage, together with stable growth in sales revenues,'' said Hu Zhanwu, Chairman and President of Pingchuan Pharmaceutical Inc. ''It is a global trend, and an inevitable step, for companies to work together to forge 'strong alliances' in order to reach the goal of becoming an industry giant. This agreement helps to accelerate the speed of our development''.
About Pingchuan Pharmaceutical Inc.
Pingchuan Pharmaceutical Inc. (''PINGCHUAN'') is a modernized pharmaceutical manufacturer with first-class medical R&D abilities, pioneered medicine products, and well-established marketing networks. Since its establishment, PINGCHUAN has focused its businesses on diabetes medicine and its medical products. The products of PINGCHUAN include health care products, varieties of medicine, as well as medical apparatus. Kang Da Glycosuria Capsule is a successful product of PINGCHUAN for treating diabetes, which was first developed in 1998 and introduced to the market in 2001. PINGCHUAN has a well-established marketing network and sale branches, which include about 180,000 retail pharmacies/drugstores across China, agency networks in major cities like Beijing, Shanghai, Guangzhou, and Xi'an, special counter sales at drug chain stores in key regions, residential community clinic sales and promotions, as well as internet marketing through the company's website. The marketing network of PINGCHUAN covers more than 50% of China and exports to the U.S., Japan, Russia, and South-east Asia.
About Sinopharm Medicine Holding Tianjin Co., Ltd
Sinopharm Medicine Holding Tianjin Co., Ltd is grouped under Sinopharm Medicine Holding Group. Its product lines mainly focus on home-made medicine, imported traditional Chinese medicine, imported western medicine and correlative medical products. Sinopharm Tianjin is seized of nearly 100 general agents and regional agents, together with its marketing network presence in over 30 provinces, cities and autonomous regions around the country. The company has established a broad relationship with more than 850 distributors, 560 medical unities and 640 retail drug stores; meanwhile, Sinopharm Tianjin is zealously cooperating with foreign pharmaceutical companies and has successfully built up close partnerships.
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Pingchuan Pharmaceutical Inc.