China Medicine Corporation to Restate Financial Statements for 2006 and 2007. China Medicine Corporation (Other OTC: CHME) (the "Company"), a leading manufacturer, developer and distributor of Western pharmaceuticals, traditional Chinese medicines ("TCM"), and other health products in the People's Republic of China.

NEWS UPDATE: Parliamentarians appear poised to approve a private member’s bill Wednesday that could reinvigorate Canada’s system for supplying generic copies of life-saving drugs to developing nations. Advocates say the bill contains reforms needed to make Canada’s Access to Medicines Regime (CAMR), adopted unanimously by Parliament in 2004, actually function. But opponents insist it won’t work, largely because Canadian generic drugs are too expensive to attract interest from impoverished developing nations. The bill, known as C-393, was first proposed nearly two years ago by now-retired MP Judy Wasylycia-Leis. It’s now sponsored by Ottawa Centre MP Paul Dewar. It aims to streamline CAMR to remove obstacles that charities and NGOs say have effectively deterred developing nations and generic drug manufacturers from using it. The regime, one of the first of its kind in the world, is based on a 2003 World Trade Organization decision that allows WTO countries, through a process known as compulsory licensing, to authorize someone other than patent holders to manufacture generic copies of specified drugs and export them to a list of developing countries.

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