AMDL has announced that Jade Pharmaceutical, its wholly owned subsidiary, has signed an agreement with Heze Mudan Medicals Co. Ltd. to distribute Domperidone tablets in the Province of Shandong and the surrounding areas, one of the most affluent regions in China.
JPI's generic version of this product is significantly lower priced than competitors. The contract is subject to minimum sales which will be reviewed annually and is expected to add at least $2.3 million in annual revenues.
Mr Frank Zheng, managing director of JPI, said this transaction puts the Company on the path to building sales in China by as much as $24 million over the next 12 months. Mr Gary Dreher, CEO of AMDL, said this and other recently signed contracts will assist in the effort to meet the goal of building annual sales to $100 million over the next four to five years.
AMDL, headquartered in Tustin, California, with operations in Shenzhen, Jiangxi and Jilin, China, through its wholly owned subsidiary Jade Pharmaceutical Inc (JPI), is an international biopharma company that engages in the development, manufacture and marketing of proprietary pharmaceutical and diagnostic products.