SOURCE: China Aoxing Pharmaceutical Co., Inc.

September 24, 2009 08:00 ET

China Aoxing Pharmaceutical Company Honorably Awarded Center of Excellence in Enterprise Technology by Consortium of China Government Offices

NEW YORK, NY--(Marketwire - September 24, 2009) - China Aoxing Pharmaceutical Company, Inc. (OTCBB: CAXG) ("China Aoxing"), a China-based pharmaceutical company specializing in research, development, manufacturing and distribution of narcotic and pain-management products, today announced that China Aoxing honorably received Center of Excellence Award in Enterprise Technology by the consortium of China local government offices.

China Aoxing, along with thirteen other companies across several industry sectors, became the recipient of the award jointly by the Development and Reform Commission of Shijiazhuang City, Finance Bureau of Shijiazhuang City, and Taxation Bureau of Shijiazhuang City. The selection criteria were based on demonstrated systemic excellence and competitiveness in product quality, technology, environmental protection as well as technical credential of management leadership. The government will provide financial support and business enhancement to the recipients on an annual basis.

"The Center of Excellence Award celebrates the product quality and technology management which is part of the fabric of our business, and we are much honored to receive this recognition with the other two distinguished pharmaceutical companies given the fact that there are over a hundred well-established pharmaceutical companies under the consideration of our city government. This award exemplifies our product quality, innovation culture and highest values and standard embraced within our company. We will continue focusing on quality management and technological competitiveness, and creating greater value for investors," commented by Mr. Zhenjiang Yue, the Chairman and CEO of China Aoxing.

About China Aoxing Pharmaceutical Company, Inc.

China Aoxing Pharmaceutical Company, Inc. (OTCBB: CAXG) is a pharmaceutical company located in China specializing in research, development, manufacturing and distribution of a variety of narcotics and pain-management products. It has a strategic alliance with American Oriental Bioengineering, Inc. (NYSE: AOB) to develop and market various narcotic drugs in China. Headquartered in Shijiazhuang City, the pharmaceutical capital of China, outside of Beijing, China Aoxing has China's largest and the most advanced manufacturing facility for highly regulated narcotic medicines, addressing a very under-served and fast-growing market in China. Its facility is one of the few GMP facilities licensed for narcotics medicines. The Company is working closely with the Chinese government and SFDA to assure the strictly regulated availability to medical professionals of its narcotic drugs and pain medicines throughout China.

Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. The economic, competitive, governmental, technological and other risk factors identified in the Company's filings with the Securities and Exchange Commission, including the Form 10-KSB for the year ended June 30, 2008, may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

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