Message #1 From:
Jason Date: February 19, 2008 06:27:03 AM
China Aoxing Pharmaceutical Designated as a Key Manufacturer of Cancer Pain Drug by China SFDA
Company to address significant unmet medical needs in cancer pain management
NEW YORK, Nov. 26 /PRNewswire-FirstCall/ -- China Aoxing Pharmaceutical
Company, Inc. (OTC Bulletin Board: CAXG), which has the largest manufacturing
facility and product pipeline for highly regulated narcotic medicines and pain
medication in China, today announced that the China State Food & Drug
Administration (SFDA) granted the Company the designated manufacturer status
to produce Tilidine Tablets and Capsules, a highly regulated narcotic drug, in
order to address significant unmet medical needs in cancer pain management in
China.
Mr. Zhenjiang Yue, the CEO of CAXG, said: 'We are very pleased with the
SFDA's decision on designating the Company as the only drug manufacturer for
this highly regulated cancer pain medicine in China. We expect to launch this
important and needed cancer pain medicine through CAXG's integrated 500 person
sales force in later 2008. Cancer pain management is a key component in
oncology therapy, and becomes the top priority for terminal cancer patients.
Cancer has become the first cause of death in China, estimated at 1.5 million
victims per year. The number of victims is soaring especially in rural and
western China as Western diet and lifestyle becomes prevalent. China's
government and medical community are fully aware that China is woefully behind
the rest of world in cancer pain treatment. For example, the consumption of
morphine for pain per capita only amounts to 1/3 of other developing
countries, more strikingly, almost 0.5% of developed countries. Our mission
is to bring multiple effective therapeutic options, including Oxycodone,
Tilidine and other promising narcotic pain medicines in our pipeline, to help
approximately 20 million cancer patients in China.'
Ms. Liying Yang, the Vice President of R&D, commented, 'Today's approval
continues reflecting the trust and support from the China SFDA, and also
speaks to our commitment to introducing new narcotic therapeutic paradigms
into the China market. SFDA's decision also solidifies our leading position
in narcotic drug business of China. For Tilidine, it sells multi-hundred
million Euros per year as a generic in Europe under the aegis of a global top
three pharmaceutical manufacturer. Since China Aoxing is the innovator in the
China market, the Company under SFDA regulations will have five-year
exclusivity in the China market. Based on the regulations set forth by the
China SFDA in this sector, currently there are only 13 pharmaceutical
companies allowed to be in this business in China. More importantly, the
agency designates only 1 or 2 drug companies to be involved in raw material,
or active pharmaceutical ingredient (API) production for a particular narcotic
drug, and only 1 to 3 companies in the area of associated finished doses of a
single product.'
About Tilidine for Cancer Pain Treatment
Tilidine is a prodrug, which, following oral administration, is converted
to the active analgesic metabolite, nortilidine. Tilidine is indicated for
the relief of acute, moderate to severe pain, and chronic cancer-related pain.
Currently Tilidine is not available in China and will be introduced by China
Aoxing to the China market. China Aoxing is developing a comprehensive
program including clinical study, educational seminars and conferences so the
medical community will become aware and positive to the use of Tilidine as an
effective narcotic-based cancer pain medication.
About China Aoxing Pharmaceutical Company, Inc.
China Aoxing Pharmaceutical Company, Inc. (OTC Bulletin Board: CAXG) is a
pharmaceutical company 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 the 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
such as Oxycodone, Tilidine 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.
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
Dr. Hui Shao Senior Vice President China Aoxing Pharmaceutical 201-420-1075
