DALLAS, TEXAS : StockGuru announces that Dragon Pharmaceutical Inc. (OTCBB: DRUG) is in the StockGuru Spotlight. Dragon Pharmaceutical, incorporated in Florida and headquartered in Vancouver, Canada, is a leading manufacturer and distributor of a broad line of high-quality antibiotic products including Clavulanic Acid and 7-ACA, a key intermediate to produce cephalosporin antibiotics and formulated drugs. Dragon Pharma is the third largest 7-ACA producer and the dominant manufacturer and market leader of Clavulanic Acid products in China. Dragon Pharma utilizes its nationwide sales distribution network, close customer relationships, understanding of local markets and customer needs and low cost structure to outperform its international and domestic peers. With an annual capacity of 780 tons, Dragon Pharma is the largest exporter of 7-ACA in China.
On Wednesday, the company put out news announcing the appointment of Chang Lee LLP (”Chang Lee”) to serve as the Company’s independent registered public accounting firm, effective October 14, 2009. Chang Lee replaces the Company’s previous independent registered public accountants, Ernst & Young LLP (”E&Y”). “We have had a very positive relationship with E&Y and appreciate their dedicated services over the past years,” said Garry Wong, the Chief Financial Officer of the Company. “This was a difficult decision, but given the significantly lower audit fees to be charged by Chang Lee, the Board determined that Chang Lee offers our shareholders the best combination of quality services and cost-efficiency. We look forward to working with their team.”
Shares for Dragon Pharmaceutical Inc. (OTCBB: DRUG) were down during the early afternoon of trading on Wednesday and closed slightly down at closing.
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