SOURCE: China Aoxing Pharmaceutical Company

January 31, 2007 16:20 ET

China Aoxing Pharmaceutical Company Receives GMP Certificate for Small Volume Injectables -- A Landmark Development in Company History

NEW YORK, NY -- (MARKET WIRE) -- January 31, 2007 -- China Aoxing Pharmaceutical Company, Inc. (OTCBB: CAXG) today announced that its Chinese subsidiary, Hebei Aoxing Pharmaceutical Group, has received final GMP (Good Manufacturing Practices) certification approval for small volume injectables from the State Food and Drug Administration (SFDA) of the People's Republic of China.

"We are very pleased with the SFDA's decision. This is the result of many years of hard work by our research and development team. This GMP certificate (H4107), along with SFDA license (H20064846), received in April of 2006, allows the Company to manufacture and market Naloxone in injectable form in China. We are very excited about the news and we are currently preparing for the product launch in near future," commented Zhenjiang Yue, the Chairman and CEO of China Aoxing Pharmaceutical Company.

Naloxone is an opiate antagonist clinically indicated to reverse the effects of narcotic drugs used during surgery, to treat illnesses, such as respiratory depression related to opioid overdose. It is also used to treat shock, alcohol poisoning as well as to diagnose narcotic drug addiction. The drug is synthesized from thebaine, which in the US is classified as a Schedule II drug by the Controlled Substance Act. The supply of Naloxone raw materials in China is completely controlled by the central government. The government restricts the manufacture and sale of the Naloxone to only a handful of companies, including Hebei Aoxing.

About China Aoxing Pharmaceutical Company

Hebei Aoxing Pharmaceutical Group is a corporation organized under the laws of the People's Republic of China that has developed a patented manufacturing process for a variety of generic analgesic drugs, including Oxycodone, Pholcodine, Naloxone, and Tilidine. Hebei Aoxing is one of only a handful of companies in China to be granted the license to manufacture these drugs and is working closely with the Chinese government to assure their availability throughout China. China Aoxing Pharmaceutical Company acquired Hebei Aoxing in a reverse merger transaction in April of 2006.

Safe Harbor Statement

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. You are urged to read the Company's filings with the Securities and Exchange Commission, including, but not limited to, the risk factors contained therein. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Contact Information

  • Contact:
    Dr. Hui Shao
    Senior Vice President