Julius, do you have any opinions about this company? Thanks, GR
Business Wire
February 06, 2004 05:17 PM US Eastern Timezone
Beijing Med-Pharm Corporation Announces Acquisition of China Based Pharmaceutical Company
PALATINE, Ill.--(BUSINESS WIRE)--Feb. 6, 2004--Beijing Med-Pharm Corporation (BJGP.PK), a Delaware corporation (the "Company"), announced today that it has completed an exchange transaction pursuant to which the Company issued 7,807,509 shares of its common stock to Abacus Investments Ltd., a Bermuda company ("Abacus"), in exchange for one hundred percent equity interest held by Abacus in Beijing Med-Pharm Market Calculating Co., Ltd., a wholly foreign owned enterprise established under the laws of the People's Republic of China ("BMP China"). As a result, Abacus owns approximately ninety percent of the issued and outstanding common shares of the Company.
BMP China's business includes (a) the distribution of pharmaceutical products to hospitals and doctors within Mainland China, (b) physician-oriented promotion of drugs manufactured by foreign and domestic pharmaceutical companies, and (c) clinical services for pharmaceutical product manufacturers for prescription and over-the- counter products to be sold in Mainland China.
The Company's common stock is presently traded on the Electronic Pink Sheets under the symbol, "BJGP."
For additional information regarding the matters that are the subject of this press release, you may contact David Gao at (847)-397-0071.
Contacts
Beijing Med-Pharm Corporation
David Gao, 847-397-0071 |
