AMDL Expands Drug Distribution in China With Additional Agreement, Valued at $2.3 Million Annually
October 11 2007 - 8:20AM
PR Newswire (US)
TUSTIN, Calif., Oct. 11 /PRNewswire-FirstCall/ -- AMDL, Inc.
(AMEX:ADL), headquartered in Tustin, California, with operations in
Shenzhen, Jiangxi and Jilin, China, through its wholly owned
subsidiary Jade Pharmaceutical Inc. (JPI), is an international
biopharma company that engages in the development, manufacture and
marketing of proprietary pharmaceutical and diagnostic products.
AMDL announced today that JPI has signed an agreement with Heze
Mudan Medicals Co. Ltd. to distribute Domperidone tablets in the
Province of Shandong and the surrounding areas, one of the most
affluent regions in China. Domperidone is an important medicine for
treating nausea and vomiting. JPI's generic version of this product
is significantly lower priced than competitors. The contract is
subject to minimum sales which will be reviewed annually and is
expected to add at least $2.3 million in annual revenues. Frank
Zheng, managing director of JPI, said this transaction puts the
Company on the path to building sales in China by as much as $24
million over the next 12 months. Gary Dreher, CEO of AMDL, said
this and other recently signed contracts will assist in the effort
to meet the goal of building annual sales to $100 million over the
next four to five years. About JPI: Jade Pharmaceutical has access
to the fastest growing pharmaceutical and consumer market in the
world: China. AMDL, through its subsidiary, Jade currently
manufactures large volume injectable fluids, tablets and other
related products, holding licenses for 133 products. It also
manufactures 107 generic, over the counter and supplemental
pharmaceutical products under certified Chinese Good Manufacturing
Practice (CGMP) standards. About AMDL: More information about AMDL
and its products can be obtained at http://www.amdl.com/ .
Forward-Looking Statements: This news release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are
subject to certain risks and uncertainties, and actual
circumstances, events or results may differ materially from those
projected in such forward-looking statements. The Company cautions
readers not to place undue reliance on any forward-looking
statements. The Company does not undertake, and specifically
disclaims any obligation, to update or revise such statements to
reflect new circumstances or unanticipated events as they occur.
Contact: AMDL, Inc. Paul Knopick AMDL Investor Relations Direct
Line: 949.707.5365 Voice Mail: 714.505.4460 DATASOURCE: AMDL, Inc.
CONTACT: Paul Knopick, Investor Relations, +1-949-707-5365, Voice
Mail, +1-714-505-4460, for AMDL, Inc. Web site:
http://www.amdl.com/
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