First China Pharmaceutical Group (OTC:FCPG), a rapidly growing pharmaceutical distribution company headquartered in Yunnan, China, announced yesterday the signing of three new agreements for the distribution of its growing inventory of over 5,000 medicinal and pharmaceutical product lines to a number of hospitals located in areas that mark significant penetration into new regions of China.Shares of First China hit a new 52-week high of $1.77 per share today on moderate volume of 305,000 shares. The company has a market cap of $80 million and a 52-week range between $0.80 and $1.77 per share.
These recent agreements bring the Company to a total of thirteen new hospital-level contracts signed in just under 60 days, a new benchmark of success demonstrating Management's extraordinary level of effort and commitment towards increased market growth.
First China is very pleased to extend greetings to the management and staff of the No.1 Peoples Hospital of Hefei (pop. 4,900,000) located in the capital of Anhui province, as well as the Affiliated Hospital of Jilin Medical College located in the northeastern city of Jilin City (pop. 4,500,000), and to the Hospital of No.4 Agriculture Division of Xinjiang Production and Construction Corps located in the Xinjiang Uyghur Autonomous Region (pop. 21,590,000), and warmly welcomes them to the Company's rapidly growing national portfolio of institutional-grade clientele.
This news comes on the heels of recent announcements on November 3rd outlining the Company's intent to acquire the interests of De Xin Pharmacy of Kunming City as a retail flagship operation, followed by the November 30th news announcing intent to acquire the interests of well-positioned regional distributor Shandong Run Kang Pharmaceutical Co. Inc. of Jinan City -- located only 250 miles from the national capital of Beijing.
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