HARBIN, China, April 1 /PRNewswire-Asia-FirstCall/ -- Renhuang Pharmaceuticals, Inc. (“Renhuang” or the “Company”), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines (“TCM”), today announced that on March 28, 2010, the Company’s patent application for its proprietary Siberian Ginseng (Acanthopanax) Total Glucosides Total Flavonoids Soft Capsules and related formulation method passed a preliminary review conducted by the State Intellectual Property Office of the People’s Republic of China (“SIPO”).
Renhuang’s all natural, plant-based Siberian Ginseng Total Glucosides Total Flavonoids Soft Capsules are oral medication being developed to treat cardiovascular and cerebrovascular diseases and provide nerve regulation and leverages the Company’s proprietary formulations. The Company’s patent application will now enter a comprehensive examination phase by the SIPO, which is typically a two year process. If approved, the patent is expected to provide market exclusivity for a period of 16 to 18 years from the date of the patent approval.
“Passing the preliminary review by the SIPO is an important step and puts the Company on the right track towards eventual patent application approval for the drug and related formulation method,” said Mr. Shaoming Li, Chairman and CEO of Renhuang Pharmaceuticals, Inc. “Securing patent protection for our proprietary products and unique formulation method is a critical component of our long-term growth strategy. This patent, if issued, will help to reinforce our competitive advantage in the high-growth market for Siberian Ginseng Products and strengthen our future revenue growth opportunities.”
ABOUT RENHUANG PHARMACEUTICALS, INC.
Renhuang Pharmaceuticals, Inc. is engaged in the development, manufacturing, and distribution of botanical products, bio-pharmaceutical products, and traditional Chinese medicines (“TCM”), in the People’s Republic of China. All of the Company’s products are produced at its three GMP-certified production facilities in Ah City, Dongfanghong and Qingyang. The Company distributes its botanical anti-depression and nerve-regulation products, biopharmaceutical products, and botanical antibiotic and OTC TCMs through its network of over 3,000 distributors and over 70 sales centers across 24 provinces in China.
Safe Harbor Statement
This press release contains certain statements that may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management’s beliefs, assumptions and expectations of the Company’s future operations and economic performance, taking into account the information currently available to management. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties, some of which are not currently known that may cause actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial condition expressed or implied in any forward-looking statements. These forward-looking statements are based on current plans and expectations and are subject to a number of uncertainties including, but not limited to, the Company’s ability to secure patent rights, obtain new drug approvals, effectively manage the expansion of its operations, and other factors detailed in the Company’s annual report on Form 10-K and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented herein.
CONTACT: Ms. Portia Tan, IR Contact of Renhuang Pharmaceuticals, Inc.,
+86-451-5392-5461, ir@renhuang.com; or Ms. Lei Huang, Account Manager,
+1-646- 833-3417 (New York), lei.huang@ccgir.com, or Crocker Coulson,
President, +1- 646-213-1915 (New York), crocker.coulson@ccgir.com, both of
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