China Medicine Corporation (CHME.OB)of Guangzhou said Q1 results show a 54% increase in net income ($1.2million) on revenues that were 39% higher ($7.1 million) than the samequarter a year ago. China Medicine develops and distributesprescription and over-the-counter pharmaceuticals, traditional Chinesemedicines, and nutritional and dietary-supplements.

China Medicine said its improved financial performance was helped by anexpansion of its distribution network to include the rural areas of itshome base in Guangdong Province. The company was also able to takeadvantage of the online bidding process to increase its provincialdistribution rights in Q4 of 2007. Because of the China New Yearcelebrations, a similar increase did not take place in Q1, but ChinaMedicine expects to continue its penetration of that market in thefuture.

China Medicine also commented that Q4 is its best quarter, and Q1traditionally records the lowest numbers for the year. Ho...

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