China Botanic Pharmaceutical Inc.(CBP), today announced that the Company's Articles of Incorporation have been amended to effect the name change of the Company from its former name of Renhuang Pharmaceuticals.
China Botanic noted that after four years it is retiring the name Renhuang Pharmaceuticals and will now officially be known as China Botanic Pharmaceutical Inc. to better reflect the Company's corporate identity, brand image and business operations. The legal structure of China Botanic remains unchanged.
"We are a rapidly growing and expanding botanic and bio-pharmaceutical company and we believe our new corporate name better reflects our business operations and product portfolio," said Mr. Shaoming Li, the Chairman and CEO of China Botanic Pharmaceutical Inc. "We believe our new name – China Botanic Pharmaceutical Inc. can be easily associated with our brand promise and our product categories, and will be well accepted in our target markets. We are actively expanding sales beyond our leading Siberian Ginseng products and introducing new products to drive future revenue and net income growth. We believe this is a good time to set the stage for our new corporate and brand entity."