Renhuang Pharmaceuticals Announces Government Grant.HARBIN, China -- Renhuang Pharmaceuticals, Inc. (or "the Company", Stock symbol: RHGP.OB), a leading provider of natural health care products in the People's Republic of China (PRC), today announced it has been named a Key Program of Science and Technology (S&T) in Heilongjiang Province by the Department of Science and Technology of Heilongjiang province. As a result, Renhuang will receive an annual grant of RMB RMB Right Mouse Button RMB Regional Management Board (USACE) RMB Rolf Maier Bode (musician, band) RMB Ren Min Bi (currency of People's Republic of China) 1 million (US$ 127,902*) to further research and develop its Acanthopanax, or Siberian Ginseng ginseng (jĭn`sĕng), common name for the Araliaceae, a family of tropical herbs, shrubs, and trees that are often prickly and sometimes grow as climbing forms. , series of products. The company is currently developing three varieties of Acanthopanax extracts: Acanthopanax Senticosus Acanthopanax senticosus, n See ginseng, Siberian. , Acanthopanax Senticosus Polysaccharide polysaccharide: see carbohydrate. polysaccharide Any of a large class of long-chain sugars composed of monosaccharides. Because the chains may be unbranched or branched and the monosaccharides may be of one, two, or occasionally more kinds, and Acanthopanax Senticosus Total Saponin saponin: see soap plant. . The use of the extracts has been reported to increase physical strength, sharpen concentration, improve various parameters of mental power, increase visual acuity visual acuity n. Sharpness of vision, especially as tested with a Snellen chart. Normal visual acuity based on the Snellen chart is 20/20. Visual acuity The ability to distinguish details and shapes of objects. , improve color vision and promote healing power. The expected revenue from these new products when go into production is US$ 6.5 million per year with a profit margin of 40%, which is slightly higher than the Company's current comparable products. Renhuang spends a total of about 8% of its revenue on Research and Development on an annual basis. * (US$/RMB conversion is provided solely for the convenience of the reader at a rate of 7.8185, the rate on December 14, 2006). About Renhuang Pharmaceuticals, Inc.: Renhuang Pharmaceuticals is a leading bio-pharmaceutical company located in Harbin in the Heilongjiang Province in Northeast China. Renhuang is primarily engaged in the research, production, and sales of bio-pharmaceutical products in Mainland China. The Company's main products are Siberian ginseng, shark liver oil Shark liver oil is obtained from sharks caught for food purposes only, living in cold, deep oceans. The liver oil from sharks has been used by fishermen for centuries as a folk remedy for general debility, for healing wounds, sores, irritations of the respiratory tract and the and several other traditional medical products. It is estimated that 70% of China's natural supply of Siberian Ginseng is currently controlled by the Company. The company also anticipates approval within six to nine months by State Food and Drug Administration The State Food and Drug Administration (SFDA Simplified Chinese: 国家食品药品监督管理局) is founded on the basis of the State Drug Administration. ("SFDA SFDA State Food and Drug Administration (China) SFDA Saudi Food & Drug Authority ") for up to five of its new Monoclonal Antibody monoclonal antibody, an antibody that is mass produced in the laboratory from a single clone and that recognizes only one antigen. Monoclonal antibodies are typically made by fusing a normally short-lived, antibody-producing B cell (see immunity) to a fast-growing Reagent Box series products. These products are 60% more reliable than those from its competitors and also adhere to "Good Manufacturing Practices", or "GMP GMP (guanosine monophosphate): see guanine. ". Moreover, the company is in the process of building its own immune system immune system Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. research and development function. Overall, the company is able to achieve significant cost savings compared to most of its competitors, who purchase their raw materials from third parties. Over 2000 sales agents are employed in seventy sales centers across twenty-four districts and cover over 50% of the greater China area and 80% of its population, including the most populous and developed Eastern China. The Company employs over 50 people in its R&D department, a number of which are well recognized and respected pharmaceutical professors and research scientists from National Navy Pharmaceutical Research Center, Beijing Ellionbio Research Center and other well known institutions. State of the art research and production facilities using the latest technologies are currently used by the Company's scientists to develop new and innovative areas, including antiseptic and immune system products and Diagnostic kits. RHGP-G Safe Harbor Statement This press release contains certain statements that may include 'forward-looking statements' as defined in the Securities Act of 1933, and the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included herein are 'forward-looking statements.' Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. |
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