Tongli Pharmaceuticals (USA) Inc. (OTC Bulletin Board: TGLP), announced today that the company signed new distribution agreement with Shandong Shanglian Biochemical Medicine Limited Company. Five of our products including Antihyperlipidemics, Calcium Gluconate Oral Liquid, Panax and Radix Polygoni Capsule, Metformin Hydrochloride Tablets, Clindamycin Hydrochloride will be sold at four cities (Zibo, Weifang, Linyi and Liaocheng) of Shandong Province. As of 2010, the total sales of medicine industry in these four cities was RMB 40 Billion ($6 Billion). This is the first time that our products will be sold in Shandong Province. Company expects it a positive factor in boosting the company’s revenue in 2011 significantly.
Mr. Mingli Yao, Chairman and CEO commented, “We’re happy to have the great opportunity to cooperate with Shandong Shanglian Biochemical Medicine Limited Company. We feel this reflects a growing interest in our company based on our continued ability to implement our business strategies and drive Tongli’s revenues and profits. We expect our products will be sold to more cities in Shandong Province in the near future.”
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