AOBO Announces New Product Launch
August 07 2009 - 6:46AM
PR Newswire (US)
NEW YORK, Aug. 7 /PRNewswire-Asia-FirstCall/ -- - Jingwei Capsules
Treat Allergy Symptoms - - Complements Established Boke Nasal Spray
Brand - - Diversifies Product Offering with Capsule Formulation -
American Oriental Bioengineering, Inc. (NYSE:AOB), ("the Company"
or "AOBO"), a pharmaceutical company dedicated to improving health
through the development, manufacture and commercialization of a
broad range of prescription and over the counter ("OTC") products
in China, today announced that the Company has launched a new
product for the rhinitis and allergy market, called Jingwei
Capsules ("Jingwei"). Jingwei will be manufactured by the Company's
Boke subsidiary, and will be marketed throughout China utilizing
AOBO's distribution network, including the Company's national
hospital and pharmacy distribution network. Jingwei is an
effective, long-lasting, tricyclic antihistamine that selectively
antagonizes peripheral H1-receptors. This unique mechanism enables
Jingwei to quickly alleviate the symptoms associated with rhinitis,
chronic urticaria, itching skin and other allergic skin reactions,
but without the common antihistamine side-effects. A branded
version of Loratadine, Jingwei is currently reimbursable under
China's national insurance program. Mr. Tony Liu, Chairman and
Chief Executive Officer of American Oriental Bioengineering,
commented, "We are very pleased to be launching the Jingwei
Capsule, which is complementary to our market-leading Boke nasal
spray. Its major competitor is Schering-Plough's Claritine, whose
revenue is estimated to be RMB 1.0 billion at present. Jingwei is
an excellent product that is both effective and safe. With AOBO's
well-established distribution network, and the strength of the Boke
brand, we believe that the Jingwei capsule could become one of
AOBO's leading products over time. We are confident in our future
growth prospects as we continue to expand our product lines and
launch innovative new products." About American Oriental
Bioengineering, Inc. American Oriental Bioengineering, Inc. is a
pharmaceutical company dedicated to improving health through the
development, manufacture and commercialization of a broad range of
prescription and over the counter products in 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 factors identified in the Company's filings
with the Securities and Exchange Commission, including the Form
10-K for the year ended December 31, 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. DATASOURCE: American Oriental Bioengineering, Inc.
CONTACT: Ashley M. Ammon of Integrated Corporate Relations, Inc.,
+1-203-682-8200
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