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 03/09/2009
[Company watch]
China Aoxing Submits Cough Medicine for Approval
China Aoxing Pharmaceutical Company (CAXG.OB), which specializes in the strictly regulated sector of narcotic and pain medications, has submitted its application for SFDA approval of Codeine Phosphate, an oral solution for the treatment of acute moderate to severe cough. China Aoxing expects to launch this product in China in 2010, assuming the regulatory review goes well.
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China Aoxing Pharmaceutical Company (CAXG.OB), which specializes in the strictly regulated sector of narcotic and pain medications, has submitted its application for SFDA approval of Codeine Phosphate, an oral solution for the treatment of acute moderate to severe cough. China Aoxing expects to launch this product in China in 2010, assuming the regulatory review goes well.
As a Class III New Medicine – which means that China Aoxing’s product is the first example in China of a drug approved elsewhere in the world – the product is eligible for three years of market exclusivity.
China Aoxing said the market for cough medications in China is about $2 billion per year and growing at a 10% rate annually. With annual revenues of just under $12 million, China Aoxing needs a boost to its sales to become profitable.
American Oriental Bioengineering (AOB) owns a 38% stake in China Aoxing. |
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