First China Overview
|Keys to Success|
|First China Pharmaceutical Group is one of a few pharmaceutical distribution companies in Yunnan Province to be granted a "License of Internet Pharmacy Information Service" allowing online marketing and order processing.
|First China Pharmaceutical Group is positioned to achieve near-term growth by dramatically expanding its product offerings, leveraging online ordering in order to bypass city and county distribution layers, increasing its customer base, and acquiring other established distributors.
|The Chinese pharmaceutical market is growing more than 20% per year. China is on track to become the third-largest prescription drug market next year, with sales expected to grow by $40 billion by 2013 as the country improves its healthcare infrastructure.
The Sarbanes-Oxley Act created new standards for corporate accountability as well as new penalties for acts of wrongdoing. It changes how corporate boards and executives must interact with each other and with corporate auditors. It removes the defense of "I wasn't aware of financial issues" from CEOs and CFOs, holding them accountable for the accuracy of financial statements. The Act specifies new financial reporting responsibilities, including adherence to new internal controls and procedures designed to ensure the validity of their financial records.