NEW YORK, May 17 /PRNewswire-FirstCall/ -- Shanghai Yutong Pharmaceuticals, Inc. (PINK SHEETS: SGYG) Wang Lei, Chairman of the Board of Shanghai Yutong Pharmaceuticals, Inc. reports that the Company has entered into an agreement with Satellite Auction Network pursuant to which the Company will acquire all of the issued and outstanding shares of the Delaware-based company.
Established in 1970, Shanghai Yutong Pharmaceuticals, Inc. specializes in the development and commercialization of Chinese herbal medicines and biological pharmaceuticals.
“We believe that by listing ourselves in the United States, we will be able to carry out our business plan of expanding sales and distribution of our flagship product Qilisheng Oral Solution-a high tech health care food.” said Mr. Wei. “The U.S. Capital Markets will enhance our ability to further develop our product portfolio of 13 different kinds of traditional Chinese medicine and further solidify ourselves as a premier provider of nutriceutical products” he continued.
About Shanghai Yutong Pharmaceuticals, Inc.
The Company specializes in the development and commercialization of Chinese herbal medicines and biological pharmaceuticals. The Company operates from a 90,000 square foot GMP-approved facility and markets over 13 different types of Chinese Medicine. The Company’s flagship product Qilisheng Oral Solution core technique has been granted a U.S. patent.
The statements contained in this press release contain certain forward- looking statements, including statements regarding the company’s expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to the company’s management as of the date hereof, and actual results may vary based upon future events, both within and without the control of the company’s management.
For Further Information: Rick Oravec rick@vircomglobal.com 212-422-3601
Shanghai Yutong Pharmaceuticals, Inc.
CONTACT: Rick Oravec, +1-212-422-3601, or rick@vircomglobal.com
