China Aoxing Pharmaceutical Company Announces Appointment of New Chief Financial Officer
January 20 2010 - 7:30AM
Marketwired
China Aoxing Pharmaceutical Company, Inc. (OTCBB: CAXG) ("China
Aoxing"), a pharmaceutical company specializing in research,
development, manufacturing and distribution of narcotic and
pain-management products, today announced that it has appointed Dr.
Hui Shao as Chief Financial Officer, effective immediately.
"We are very delighted to welcome Dr. Shao into his new
appointment as Chief Financial Officer of the Company," said
Zhenjiang Yue, Chairman and CEO of China Aoxing. "We believe Dr.
Shao's global vision and expertise in the healthcare industry will
enhance our operations and financial capabilities immediately as
our company embarks on a new era of growth and international
endeavors. He will certainly strengthen our profile as a publicly
listed company."
Dr. Shao brings a broad business and financial acumen with over
14 years of extensive financial, accounting, private investment and
strategic business development experience across various aspects of
the global healthcare industry. Since 2007, Dr. Shao has served as
the Company's Vice President of Finance. Prior to joining the
Company, Dr. Shao was a Senior Analyst at Mehta Partners and
Kamunting Street Capital Management in New York, where he was
responsible for a healthcare investment portfolio of over $100
million across North American and European companies. Dr. Shao was
a Principal Scientist, leading metabolic disease and oncology
projects at Roche Pharmaceuticals, before he started his career on
Wall Street.
Dr. Shao earned his MBA in Finance and Accounting from the Stern
School of Business, New York University. He earned his Ph.D. in
Bioorganic Chemistry from the University of California, San Diego.
He is a Chartered Financial Analyst (CFA) and a member of the New
York Society of Security Analysts (NYSSA).
Dr. Shao commented, "I am excited to have the opportunity to
expand my role at the Company. Our business is making significant
progress on every front. I look forward to seeing these endeavors
to fruition and believe that China Aoxing will be in an excellent
position to benefit from the rapid growth and market dynamics of
its pain management therapeutics."
With Dr. Shao's appointment, Ms. Hongyue Hao will step down as
the Acting CFO. Ms. Hao will continue to be the Vice General
Manager of Financial Operations and Reporting of Hebei Aoxing
Pharmaceutical Group Company, Inc., the main operating subsidiary
of China Aoxing.
About China Aoxing Pharmaceutical Company, Inc.
China Aoxing Pharmaceutical Company, Inc. (OTCBB: CAXG) is a
pharmaceutical company specializing in research, development,
manufacturing and distribution of a variety of narcotics and
pain-management products. It has a strategic alliance with American
Oriental Bioengineering, Inc. (NYSE: AOB). Headquartered in
Shijiazhuang City, the pharmaceutical capital of China, outside of
Beijing, China Aoxing has China's largest and the most advanced
manufacturing facility 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 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.
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 risk factors
identified in the Company's filings with the Securities and
Exchange Commission, including the Form 10-K for the year ended
June 30, 2009, 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.
Contact: Wei Zhang Vice President China Aoxing Pharmaceutical
Company, Inc Email: chinaaoxing@gmail.com Telephone: 646 - 367-1747
Website: www.chinapainmed.com
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