BOQI International Medical Inc. Announces That Its Wholesale Drug Distribution Subsidiary, Shude Pharmaceutical, Was Awarded ...
June 02 2021 - 8:00AM
BOQI International Medical Inc. (NASDAQ: BIMI) (“BIMI” or the
“Company”), a leading healthcare products and services provider in
China, today announced that its subsidiary, Chongqing Shude
Pharmaceutical Co., Ltd. (“Shude Pharmaceutical”), an 80% owned
wholesale distributor of generic drugs in China, has been awarded a
drug supply contract of approximately RMB 20 million (approximately
$3.11 million) by Chongqing Huilian Medicine Co., Ltd. (“Huilian
Medicine”).
Pursuant to the supply contract Shude Pharmaceutical will supply
primarily two products, calcium carbonate and serrapeptase
enteric-coated tablets to Huilian Medicine for mutual benefits with
sincerity and good faith.
The contract term will end on December 31, 2021. Under the terms
of the contract, each order will, among other requirements, be
subject to quality-control verification and will require payment
before product delivery.
Mr Tiewei Song, Chief Executive Officer and President of the
Company, commented: “We are delighted to be able to work with
Huilian Medicine and to see Shude Pharmaceutical secure a major
contract that will advance our expansion strategy which focuses on
deeper penetration of the healthcare market in the Southwest region
of China.”
Mr Bangquan Tan, Sales Director at Huilian Medicine, said: “We
believe our cooperation with Shude Pharmaceutical, a well-regarded
industry leader in wholesale drug distribution, will be very
successful. We intend to bring more business growth opportunities
to our partners to achieve mutual gains.”
About BOQI International Medical Inc.
BOQI International Medical Inc. was founded in 2006. The Company
is now exclusively a healthcare products and provider, offering a
broad range of healthcare products and related services and
operates two private hospitals in China. For more information,
please visit www.usbimi.com.
Safe Harbor Statement
Certain matters discussed in this news release are
forward-looking statements that involve a number of risks and
uncertainties including, but not limited to, the Company’s ability
to achieve profitable operations, its ability to continue to
operate as a going concern, its ability to continue to meet NASDAQ
continued listing requirements, the effects of the spread of
COVID-19, the demand for the Company’s products and services in the
People’s Republic of China, general economic conditions and other
risk factors detailed in the Company’s annual report and other
filings with the United States Securities and Exchange
Commission.
Investor Relations Contact:
Janice Wang
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)
+86 13811768559 (from China)
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