AOBO's Products Included in China's Essential Drug List
27 August 2009 - 5:00AM
PR Newswire (US)
Jinji Yimucao One of AOBO's 61 Products Included in China's
Essential Drug List NEW YORK, Aug. 26 /PRNewswire-Asia-FirstCall/
-- 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, today announced that sixty one of its
products have been included in China's Essential Drug List ("EDL").
The Company currently manufactures and markets six of the sixty one
products, including one of the Company's leading products, Jinji
Yimucao. Additionally, the Company is actively exploring marketing
other AOBO products included in the EDL. China's Ministry of Health
("MOH") released the EDL on August 18, 2009. After a rigorous
selection process, an expert evaluation group selected three
hundred and seven "essential medicines" from tens of thousands of
products. Inclusion in the EDL ensures that products deemed to be
essential medicines are available to the public at appropriate
dosages and at affordable rates, at all times. Inclusion in the EDL
also ensures inclusion in the National Medical Insurance Catalog,
which reimburses manufacturers. Mr. Tony Liu, Chairman and Chief
Executive Officer of American Oriental Bioengineering, commented,
"We believe we are well-positioned in the context of China's
healthcare reform, and we are aligned with the PRC's overall
efforts to enhance medical care and coverage nationally. We are
honored to have sixty one products included in China's Essential
Drug List, and today's announcement speaks to our commitment to
efficacy and high quality. Our status as a designated branded
supplier will boost distributor confidence and retail sales
efforts. Going forward, AOBO will continue to be aligned with
China's healthcare efforts as we maintain our vision and dedication
to improving consumer health in China." 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. 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. For more information, please contact: Integrated
Corporate Relations, Inc. Ashley M. Ammon Tel: +1-203-682-8208
DATASOURCE: American Oriental Bioengineering, Inc. CONTACT:
Integrated Corporate Relations, Inc., Ashley M. Ammon,
+1-203-682-8208 for American Oriental Bioengineering, Inc.
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