China Aoxing Pharmaceutical Company Receives a New Injectable Drug Approval for Treating Ischemic Cerebrovascular Disease
NEW YORK, NY, Dec 17, 2008 (MARKET WIRE via COMTEX) -- China Aoxing Pharmaceutical Company, Inc., a China-based pharmaceutical company specializing in research, development, manufacturing and distribution of narcotic and pain-management products, today announced that its operating subsidiary in China, Hebei Aoxing Pharmaceutical Group Company, Ltd., received a new production license for Ligustrazine Phosphate Injection from the China State Food and Drug Administration ("SFDA") for treatment of ischemic cerebrovascular disease, or ischemic stroke.
"Stroke is a silent killer ranked the third leading cause of death in the adult population. Ligustrazine Phosphate is an effective intravenous injection drug in hospitals to treat this public heath problem," said Juan Yue Han, Chairman and the CEO of China Aoxing. "We are very excited to have another injection drug approved for our patients in hospital. This approval further underscores China Aoxing's long-term commitment to developing high quality hospital care therapies. We are looking forward to launching this product in early 2009."
About Ischemic Cerebrovascular Disease
Ischemic cerebrovascular disease, or ischemic stroke, is a leading disease with insufficient blood flow to part of all of the brain. It is reported that 80% of stroke incidence is classified as ischemic stroke. Every 53 seconds, someone in the United States has a stroke. Annually, approximately 750,000 Americans have an initial or recurrent ischemic stroke. Stroke incidence is even higher in others countries, particularly high in Asia and Eastern Europe. It is estimated that there are approximately 2 million newly diagnosed patients with ischemic stroke in China every year.
About Ligustrazine Phosphate Injection
Ligustrazine Phosphate Injection is used intravenously in hospital for treating ischemic cerebrovascular disease, such as insufficiency of blood-supply, cerebral thrombosis as well as cerebral embolism.
About China Aoxing Pharmaceutical Company, Inc.
China Aoxing Pharmaceutical Company, Inc. (OTCBB: CAXG | Quote | Chart | News | PowerRating) is a pharmaceutical company located in China specializing in research, development, manufacturing and distribution of a variety of narcotics and pain-management products. Headquartered in Shijiazhuang City, the pharmaceutical capital of China, outside of Beijing, the Company has China's largest product pipeline and largest manufacturing facility (1.2 million sq. ft.) 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 has two drugs on the market and has received China SFDA licenses for research and clinical development of seven more medications, including Oxycodone, Tilidine, Buprenorphine and Pholcodine. 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.
Contact: Investor Relations China Aoxing Pharmaceutical Company, Inc. (Tel) 646-512-5662
SOURCE: China Aoxing Pharmaceutical Co., Inc.