Aoxing's Chinese JV Hebei Aoxing gets clearance for naloxone product

25 January 2011

USA-based specialty drugmaker Aoxing Pharmaceutical (AMEX: AXN) says that the China Administrative Bureau of Industry and Commerce has granted a Business License for the naloxone hydrochloride active pharmaceutical ingredient (API) product to Hebei Aoxing API Pharmaceutical, its joint venture with Macfarlan Smith, a wholly owned subsidiary of Johnson Matthey.

Aoxing Pharma also announced that the joint venture received a foreign investment authorization certificate from the Department of Commerce of Hebei Province.

Zhenjiang Yue, chairman and chief executive of Aoxing Pharma, commented: "We are pleased to have completed three pre-commercial regulatory steps for our joint venture. Macfarlan Smith's global expertise in the area of pain and narcotic drugs has added great value to our efforts here at Aoxing Pharma and together we will help provide a greater quality and quantity of API for finished dosage narcotics here in China."

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