CHINA RENEWS ROCKY MOUNTAIN'S LICENSE FOR 2001.
This allows the company to continue manufacturing and marketing drugs. Company president, Brian Hodge, said he was elated with the news.
Last year China had over 6,000 licensed drug manufacturers. New legislation has recently been introduced to establish much higher drug manufacturing standards in order to bring China's drug manufacturing closer to international standards. Since these regulations were introduced, over 2,000 drug companies have failed to satisfy the new criteria and their drug manufacturing licenses have not been renewed.
Hodge advised that the company has worked diligently over the past 3 months introducing changes needed to satisfy the new standards. Now, he said, the company can focus on contacting international drug and healthy food companies to see if it can manufacture and market under license their products in China. The company has also recently acquired the right to import and market directly healthy foods and drugs manufactured in the west.
Rocky Mountain Ginseng, Inc.'s head office is located in British Columbia, Canada. The company exports American ginseng to China as well as manufactures and processes America ginseng products in China. Rocky Mountain Ginseng, Inc. holds exclusive world processing and distribution rights to several innovative value added ginseng products developed in North America.
Rocky Mountain Ginseng, Inc. purchased Fuzhou Fujian Drug Company located in China in February 1999. This acquisition included all necessary drug and hygiene licenses allowing the Company to import, export, manufacture and distribute ginseng products in all provinces of China. The company has completed the construction of its new office and manufacturing facility in the city of Fuzhou and is currently producing traditional ginseng products for the Chinese Market. The Chinese factory employs 42 people in processing, sales, accounting and management. Rocky Mountain (Fuzhou) Drug Co. Ltd. is the first wholly-owned Canadian company in the Fujian province.
For more information, call 604/420-0095 or visit http://www.RMGGInvestor.com.
|Printer friendly Cite/link Email Feedback|
|Date:||Feb 1, 2001|
|Previous Article:||AUSTRALIA APPROVES CARDIAC SCIENCES' POWERHEART.|
|Next Article:||BIOMARIN'S RHASB GETS EUROPEAN ORPHAN DRUG DESIGNATION.|