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Pharma Watch: Cheung Named CFO At China Medicine

May 5, 2010 (FinancialWire) — China Medicine Corp. (OTCBB: CHME) has appointed Fred Wai-Kuen Cheung as its chief financial officer. The company also announced that its board of directors has nominated three new directors to stand for election at its annual meeting of stockholders on May 27, 2010.

Cheung has more than 18 years of professional experience in auditing, financial and general management through his experience working with a "Big Four" auditing firm, a multi-national corporation, a private equity fund, and public and private companies based in Asia, according to China Medicine.

Prior to joining China Medicine, Cheung was an investment manager at CLSA Capital Partners. Previously, he was the financial controller for Podium Development in Hong Kong and China.

Cheung also worked at VTech Holdings for more than four years, holding various management positions.

China-based China Medicine has a research and development centre, manufacturing facilities and a sales network, engages in the production and distribution of prescription and over the counter drugs, traditional Chinese medicine products, herbs and dietary-supplements, medical devices, and medical formulations in China.

The company distributes its products to wholesale distributors, including more than 300 hospitals and 500 medicine companies that sell to over 2,000 drug stores in 28 provinces throughout China.

China Medicine is developing a number of proprietary products for a variety of uses, including oncology, high blood pressure and the removal of toxins from food and animal feeds.

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