LAIYANG, China, Dec. 21, 2007 (PRIME NEWSWIRE) -- Genesis Pharmaceuticals Enterprises, Inc. (OTCBB:GTEC) ("Genesis" or the "Company"), a leading pharmaceutical company in the People's Republic of China, today announced that it had launched its newest product Baobaole chewable tablets for sale throughout China.
Baobaole chewable tablets are a traditional Chinese medicine used to treat gastric and general abdomen discomfort. This drug stimulates appetites and promotes digestion with mild and lasting effects. It is a new, non-prescription over-the-counter (OTC) drug. A nationwide marketing campaign for Baobaole chewable tablets was started in August 2007 that included regularly shown television advertisements on the CCTV Economic Channel and Movie Channel. The Company's sales force will distribute the drug.
"We are optimistic about the launch of this product into the rapidly growing Chinese OTC market. This is our first large scale operation in the over-the-counter drug market as well as the non-prescription medicine market. We hope that this product introduction will strengthen Genesis' overall market presence and increase our market share of domestic drug sales," said Mr. Cao Wubo, Chairman and CEO of Genesis Pharmaceuticals Enterprises, Inc. "We anticipate that sales of Baobaole chewable tablets will have a significant impact on Company FY2008 revenues."
About Genesis Pharmaceuticals Enterprises
Genesis Pharmaceutical Enterprises, Inc. is engaged in the research, development, production, marketing and sales of pharmaceutical products in the People's Republic of China. Its operations are located in Northeast China in an Economic Development Zone in Laiyang City, Shandong province. Genesis produces tablets, capsules, and granules for both western and Chinese herbal-based medical drugs. The Company maintains a representative office in the U.S. For more information, refer to http://www.Genesis-China.net. Information on the Company's website, or any other website, is not a part of this press release.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to introduce, manufacture and distribute new drugs. Actual results may differ materially from anticipated or predicted results, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's ability to obtain raw materials needed in manufacturing, the continuing employment of key employees, the failure risks inherent in testing any new drug, the possibility that regulatory approvals may be delayed or become unavailable, patent or licensing concerns that may include litigation, direct competition from other manufacturers and product obsolescence. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.