Aoxing Pharmaceutical Company Announces Issuance of Chinese Patent for Naloxone Sublingual Film

JERSEY CITY, N.J., May 2, 2011 /PRNewswire/ -- Aoxing Pharmaceutical (NYSE Amex: AXN) ("Aoxing Pharma"), a specialty pharmaceutical company focusing on research, development, manufacturing and distribution of narcotic and pain-management products, announced that its operating subsidiary in China, Hebei Aoxing Pharmaceutical Group Company, has been granted a patent by the State Intellectual Property Office of The People's Republic of China for naloxone sublingual film.   The Chinese patent, ZL2005.1.0125279.7, covers a unique sublingual film formulation of naloxone that can be dissolved rapidly under the tongue.  

Naloxone is an opioid receptor antagonist that is used clinically to relieve life-threatening depression of the central nervous system and respiratory system, caused by overdose of morphine and other opioids.  It may also be used as an adjunctive therapy to increase blood pressure in the treatment of septic shocks.  It is most commonly injected intravenously for fastest action.  Oral delivery is used in emergent care due to slow and poor absorption.  However, injection is inconvenient and requires a nurse to administer it.  The sublingual film developed by Aoxing Pharma can be dissolved in under 30 seconds and allows the drug to diffuse into the blood through tissues under the tongue.  The rapid and more efficient absorption of the formulation makes it a convenient alternative to injection.

Mr. Zhenjiang Yue, Chairman and CEO of Aoxing Pharma, commented, "I would like to thank our research and development team for its dedication in driving forward this unique product, now proprietary to Aoxing.  The convenient administration of naloxone could win critical time in emergency and save lives. We look forward to developing this new therapeutic delivery method for this important market."  

About Aoxing Pharmaceutical Company, Inc.

Aoxing Pharmaceutical Company, Inc. is a US incorporated specialty pharmaceutical company with its operations in China, specializing in research, development, manufacturing and distribution of a variety of narcotics and pain-management products. Headquartered in Shijiazhuang City, outside Beijing, Aoxing has the largest and most advanced manufacturing facility in China for highly regulated narcotic medicines. Its facility is one of the few GMP facilities licensed for the manufacture of narcotic medicines by the Chinese State Food and Drug Administration (SFDA). It has joint venture collaboration with Johnson Matthey Plc to produce and market narcotics and neurological drugs in China. It also has strategic alliance partnerships with QRxPharma, Phoenix PharmaLabs, Inc. and American Oriental Bioengineering, Inc. For more information, please visit: www.aoxingpharma.com.

Safe Harbor Statement from Aoxing Pharmaceutical Company, Inc.

Statements contained in this communication not relating to historical facts are forward-looking statements that are intended to fall within the safe harbor rule for such statements under the Private Securities Litigation Reform Act of 1995. The information contained in the forward-looking statements is inherently uncertain, and the Company's actual results may differ materially due to a number of factors, many of which are beyond its ability to predict or control, including, among many others, the Company's ability to commercialize on the patent subject of this press release, its ability to develop new therapeutic delivery methods, to complete GMP certification of the workshops, obtain process approvals, develop the product line as and when anticipated. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual events to differ from the forward-looking statements. More information about some of these risks and uncertainties may be found in the reports filed with the Securities and Exchange Commission by the Company. The Company operates in a highly competitive and rapidly changing business and regulatory environment, thus new or unforeseen risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. These forward-looking statements are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

CONTACT:

Aoxing Pharmaceutical Company:
Bob Ai
Chief Financial Officer
646-367-1747
[email protected]

Investor Relations:
The Trout Group
Brian Korb
646-378-2923
[email protected]

SOURCE Aoxing Pharmaceutical Company, Inc.