China Aoxing Pharmaceutical Company Announces Completion of Registration Trial of Its Leading Narcotic Drug for the Treatment of
June 18 2009 - 8:00AM
Marketwired
China Aoxing Pharmaceutical Company, Inc. (OTCBB: CAXG) ("China
Aoxing"), a pharmaceutical company specializing in research,
development, manufacturing and marketing of narcotic and
pain-management products, today announced that it has completed the
registration trial with Codeine Phosphate, a compound oral solution
for the treatment of acute moderate to severe cough. Top-line
results from this trial are expected to be announced by the end of
the third quarter of 2009.
Under the regulation of China State Food and Drug Administration
("SFDA"), this drug is designated as a Class III New Medicine, or
the first drug to be launched in China while already selling in
other regulated territories. As a result, the product is expected
to receive at least three-year market exclusivity protection after
marketing clearance by the China SFDA. Assuming positive clinical
results and timely regulatory approval, the company expects to
launch this product in China in 2010.
This registration trial is a randomized, multi-center,
double-blind, positive-controlled study designed to evaluate the
efficacy of a compound oral solution of codeine phosphate in 215
patient subjects with acute moderate to severe cough.
"We are pleased to report the successful completion of this
study, which has demonstrated excellent safety and efficacy among a
significant number of patients," said Liying Yang, Vice President
of Research of China Aoxing. "As we continue our analysis of the
data collected in this study, we look forward to presenting the
top-line results by the end of the third quarter of 2009."
The prevalence rate of cough condition is approximately at 15%
in China. It is estimated that over 50 million Chinese patients are
seeking cough treatment, mainly caused by respiratory disorders.
The market size of pharmaceutical product to address cough
condition is estimated at approximately $2 billion per year with an
annual growth rate of over 10% in China.
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.
Contact: Wei Zhang China Aoxing Pharmaceutical Company, Inc.
Email: chinaaoxing@gmail.com Telephone: 646 - 512 - 5662
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