China Medicine Announces Results of Annual Meeting of Stockholders

GUANGZHOU, China, June 3 /PRNewswire-Asia/ -- China Medicine Corporation (OTC Bulletin Board: CHME) ("China Medicine" or "the Company"), primarily a manufacturer, leading distributor and developer of Western pharmaceuticals, traditional Chinese medicines ("TCM"), and other nutraceuticals, today announced the results of its Annual Meeting of Stockholders (the "Annual Meeting") held on May 27, 2010.

At the Annual Meeting, stockholders elected each of the following nominees to the board of directors of the Company to serve until the next annual meeting of stockholders: Mr. Senshan Yang, Ms. Minhua Liu, Dr. Rachel Gong, Mr. Ryan Shih, Mr. Daniel Shih, Mr. Sean Shao and Mr. Ian Robinson.

"Our shareholders have approved a seasoned group of professionals to serve on our board of directors. We believe our board members will be invaluable to China Medicine as we execute our business plan and continue our evolution as a public company," commented Mr. Senshan Yang, Chairman and CEO of China Medicine Corporation.

For additional information, please refer to the Form 8-K filed with the Securities and Exchange Commission on June 2, 2010.

About China Medicine Corporation

China Medicine Corporation, a comprehensive enterprise with a research and development centre, manufacturing facilities and well established sales network, engages in the production and distribution of prescription and over the counter ("OTC") drugs, traditional Chinese medicine products, herbs and dietary-supplements, medical devices, and medical formulations in China. The Company distributes its products to wholesale distributors, including more than 300 hospitals and 500 medicine companies that sell to over 2,000 drug stores in 28 provinces throughout China. The Company is developing a number of proprietary products for a variety of uses, including oncology, high blood pressure and the removal of toxins from food and animal feeds.

Cautionary Statement

This press release contains forward-looking statements concerning the Company's business and products. The Company's actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, obtaining regulatory approval for new products, government support for rural health care, competition from existing and new competitors, changes in technology, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risk factors detailed in the Company's reports filed with the Securities and Exchange Commission. China Medicine Corporation undertakes no duty to revise or update any forward-looking statement to reflect events or circumstances after the date of this release.

    For more information, please contact:

    Company Contact:
     Ms. Gavin Chen
     Assistant to CFO
     China Medicine Corporation
     Tel:   +86-20-8739-2102
     Email: [email protected]

    Investor Relations Contact:
     Ms. Lei Huang, Account Manager
     CCG Investor Relations
     Tel:   +1-646-833-3417 (NY Office)
     Email: [email protected]
     Web:   http://www.ccgirasia.com

     Mr. Crocker Coulson, President
     CCG Investor Relations
     Tel:   +1-646-213-1915
     Email: [email protected]

SOURCE China Medicine Corporation