Tongjitang Chinese Medicines Company (NYSE: TCM), a leading specialty
pharmaceutical company focusing on the development, manufacture,
marketing and sale of modernized traditional Chinese medicine in China,
announced that effective June 16, 2009, it has changed its independent
auditor for the year ending December 31, 2009 from Deloitte Touche
Tohmatsu (“Deloitte”) to Ernst & Young Hua Ming. Deloitte audited
Tongjitang’s financial statements for each of the previous five years.
The change was approved by Tongjitang’s audit committee and full board
of directors.
Tongjitang and Deloitte did not have any disagreement on any matter of
accounting principles or practices, financial statement disclosure, or
auditing scope or procedures that, if not resolved to the satisfaction
of Deloitte, would have caused it to make reference to the subject
matter of the disagreement in connection with its report on Tongjitang’s
consolidated financial statements.
About Tongjitang Chinese Medicines Company
Tongjitang Chinese Medicines Company, through its operating subsidiaries
Tongjitang Pharmaceutical, Tongjitang Distribution, Tongjitang Chain
Stores, Guizhou Long-Life, Qinghai Pulante and Anhui Jingfang, is a
vertically integrated and profitable specialty pharmaceutical company
focused on the development, manufacturing, marketing and selling of
modernized traditional Chinese medicine in China. Tongjitang’s principal
executive offices are located in Shenzhen, China.
Tongjitang’s flagship product, Xianling Gubao, is the leading
traditional Chinese medicine for the treatment of osteoporosis in China
as measured by sales in Renminbi. In addition to Xianling Gubao, the
Company manufactures and markets 36 other modernized traditional Chinese
medicine products and 37 western medicines. Please visit www.tongjitang.com
for more information.
ICR, Inc.
Ashley M. Ammon or Christine Duan
203-682-8200
(Investor Relations)