First China Pharmaceutical Group Inc., a rapidly growing pharmaceutical distribution company in Yunnan, China, today announced it recently held a day-long string of meetings with key managers and employees to discuss recent events and plans for the last quarter of fiscal 2010 (ending March 31, 2010) and fiscal 2011 (ending March 31, 2012).
Through its discussions, the company laid out its plans to capitalize on its recent achievements to secure additional funding, which will enable the company to rapidly increase its product line from 5,000 products currently to more than 30,000 products. Management said that within 12 months the combined capital and increases in marketing and advertising could generate $50 million in sales from the company’s XYT subsidiary alone; within 24 months, the company said it could potentially achieve $100 million in sales.
The company said it believes its “real” growth stems from its ability to quickly close acquisition agreements with sales in the range of $10 million and $40 million, and that if the company can complete some of these acquisitions it could generate an additional $25 million-$75 million in sales within a year of their closing.
First China’s chairman and CEO Zhen Jiang Wang said new initiatives and growing its leadership in the marketplace were also among discussion topics.
“Our meetings were extremely positive and the excitement was palpable. It was clear to everyone that our recent achievements should be perceived against the unexpected and unprecedented Government Health Care reforms instructing institutional health care providers to rapidly move towards agreements with large volume pharmaceutical distributors like First China. Additional initiatives introducing new policies to encourage private funds, including overseas capital, to be channeled into the medical sector have generated extraordinary optimism and opportunities in the sector and Company management extensively discussed participation plans towards developing a leadership role in the growing marketplace,” Wang stated in the press release.
First China noted that since its acquisition of Kun Ming Xin Yuan Tang Pharmacies Co., Ltd. (XYT), the company has rapidly met or exceeded its initial goals, including: signing 17 new Hospital distributor agreements; acquiring two exclusive drug distributorship agreements; initiating plans for the acquisition of the high profile De Xin Pharmacy; launching expansion plans outside Yunnan Province by entering into pending agreements to acquire a strategically located distributor, Shandong Run Kang Pharmaceutical Co. Inc.; and planning to expand core facilities and hire new employees to assist sales, logistics and management growth needs.
For more information visit: www.firstchinapharma.com
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