Beijing Med-Pharm Corporation's Acquisition of Beijing Wanwei Pharmaceutical Co., LTD. Posted to China Beijing Equity Exchange
Plymouth Meeting, PA, August 10, 2005 - Beijing Med-Pharm Corporation (BJGP.PK) today announced it has been notified that the Beijing Wanhui Pharmaceutical Group's proposed sale of the Beijing Wanwei Pharmaceutical Co., Ltd. ("Wanwei") was posted to the China Beijing Equity Exchange ("CBEE") on August 4, 2005.
Previously, on Dec. 16, 2004, Beijing Med-Pharm announced it had signed an agreement to purchase 100% of Wanwei from the Beijing Wanhui Pharmaceutical Group, a state-controlled entity.
The posting to the CBEE of intent to sell state-owned assets to a private entity is a required step towards the completion of such a sale. This is a final step prior to the clearance by the Ministry of Commerce of the People's Republic of China of the acquisition.
Beijing Med-Pharm believes that China's Ministry of Commerce will approve the transaction during the third quarter of 2005.
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Amphion Innovations plc
Josh Berkman, Media Relations
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About Beijing Med-Pharm
Beijing Med-Pharm Corporation is a pharmaceutical marketing company that offers the following services in China through its wholly-owned subsidiary, Beijing Med-Pharm Market Calculating Co. Ltd.: pre-market entry analysis; clinical trial management; product registration; market research; and pharmaceutical marketing to physicians, hospitals and other healthcare providers.
On the web: www.beijingmedpharm.com
About Amphion Innovations plc
Amphion Innovations plc recently listed on the AIM Exchange in London under the symbol AMP.L. Amphion's business is the formation, financing, management, and development of life science and technology companies, working in partnership with corporations, governments, universities, and entrepreneurs seeking to commercialize their intellectual property.
On the web: www.amphionplc.com