First China Pharma Announces Exclusive Drug Distribution Agreement

January 20, 2011 |

4 min read

HONG KONG--(Marketwire - January 20, 2011) - 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 an exclusive drug distribution agreement that clearly demonstrates the Company’s establishment as an industry leader.

The agreement was signed January 15th with Medisan Pharmaceutical Co. Ltd. (“Medisan”) of Harbin City to act as the exclusive distributor for the specialty drug Esmolol Hydrochloride, a short and rapid-acting beta class II anti-arrhythmic used for temporary control of heart rate and blood pressure.

The product will be available to hospitals and clinics throughout China within the next 30 days and Management estimates initial sales between US$650,000 to $1 million with the potential for significant growth as the Company extends its market base throughout the nation.

First China’s Chairman and CEO Zhen Jiang Wang stated, “The selection of First China by Medisan as its exclusive distributor of this life saving product is recognition that our business model delivers results. We are pleased to be aligned with Medisan and look forward to future opportunities to assist similar manufacturers in the timely and cost effective deployment of their products. These types of agreements are driving forces that clearly position our brand as an industry frontrunner in the effective distribution of pharmaceutical products.”

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 and key acquisition strategies to drive the Company towards achieving its stated goals in the months ahead.

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

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, regulatory incentives, the development of new business opportunities, and projected costs, revenue, profits and results 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.
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Zhen Jiang Wang
Chairman and CEO