CHINA INDUSTRIAL EXCHANGE, INC. (CHINDEX) ANNOUNCES
BETHESDA, MARYLAND - March 19, 1998 - U.S. - CHINA INDUSTRIAL EXCHANGE, INC. (NASDAQ:CHDX), the largest independent U.S. distributor of Western healthcare products in the Peoples Republic of China, today announced an agreement with Berlin-Chemie AG (Berlin-Chemie), for the marketing, sales and distribution of Berlin-Chemies new pediatric antibiotic formulation Penicillin V Kalium Granulat, in Chinas Beijing and Shanghai municipalities. Under the terms of the agreement, Chindex will assume exclusive responsibility for importation, marketing and physical distribution beginning immediately. Berlin-Chemie is one of the largest manufacturers of specialty antibiotic pharmaceuticals in the world.
According to Andreas Masel, Director International Division of Berlin-Chemie, "We believe our new Penicillin VK formulation will have an excellent reception in the China market. Chindex has invested heavily in its grassroots distribution system and is the perfect organization to achieve maximum market penetration in this market. They understand how to do business in China and have been successful here for many years."
"The agreement with Berlin-Chemie is a significant step forward in our long term strategy for expansion into the underdeveloped pharmaceutical markets in China," Chindex Chairperson, President and CEO Roberta Lipson commented in Beijing. "Our investment in pharmaceutical businesses is one aspect of our ultimate goal of establishing Chindex as a leading supplier of family related healthcare products in China. Our plans include not only prescription pharmaceuticals such as Berlin-Chemies pediatric penicillin, but also over-the-counter (OTC) and mass market healthcare products, which we plan to distribute to the emerging retail pharmacy sector."
Dr. Eric Chien, Director of Pharmaceutical Business Development at Chindex commented on the agreement: "We will begin marketing the Berlin-Chemie penicillin product in Beijing and Shanghai, the two largest and most influential municipal healthcare markets in China, and will increase our family health pharmaceutical product offerings significantly in the coming months. We believe this is the beginning of a very big story here at Chindex."
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Chindex is a leading American company in healthcare in the Greater Chinese marketplace including Hong Kong and Macau. It provides representative and distribution services to a number of Fortune 500 companies including Acuson, Johnson & Johnson, Kendall Healthcare Products, and Schering AG. It also operates a private hospital corporation in China. With over sixteen years experience, 200 employees, and operations in the United States, China and Hong Kong, the Chindex strategy is to expand its cross-cultural reach by providing leading edge technologies, quality products and services to Greater Chinas professional communities. Chindex is listed on NASDAQ under the ticker symbol CHDX.