Mr. MacLellan: I've spent over 26 years traveling and doing business in China, with over 12 of those years focused on the Chinese pharmaceutical industry. AMDL itself was founded in 1987 as a biotech company focused on the development of a cancer diagnostic test. In 2006, AMDL acquired Jade Pharmaceuticals, or what we call JPI. AMDL currently operates as a U.S.-based pharmaceutical company with major operations in China. In partnership with JPI, AMDL researches, develops, manufactures and markets over 180 innovative and therapeutic diagnostic, specialty pharmaceutical and cosmetic products. This includes AMDL's proprietary and US FDA-approved DR-70 FDP cancer test and best-selling Goodnak anti-aging cosmetic and therapeutic skin care line. In 2009, we will expand product sales into strategic international markets, including Asia Pacific, North America, Latin America, Europe and the Middle East.
TWST: What new products do you plan to introduce this year?
Mr. MacLellan: We are introducing a new line of anti-aging and therapeutic
cosmetic products in the US and other select markets. This product line is based
on our best-selling Goodnak product line that is currently sold in China.
Goodnak is a high-end, therapeutic skin care product line derived from human
placenta extract (HPE). AMDL is one of the only companies in the world to
produce and sell an HPE-based skin care line in China. Because of our tremendous
success in this market, we've decided to export this product line in additional
international markets where there is significant consumer demand for innovative,
anti-aging skin care products. We expect this particular product line to be a
significant business segment for AMDL in FY09. In addition, we are
commercializing the AMDL DR-70 (FDP) cancer test. With last year's US FDA
approval, this is the first opportunity we've had to market and sell DR-70 and
we plan to do so in the US and other international markets. Lastly, we also have
a backlog of other traditional pharmaceutical products we are manufacturing and
selling in China in 2009.
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