NEW YORK, Aug. 7 /PRNewswire-Asia/ --
- Jingwei Capsules Treat Allergy Symptoms -
- Complements Established Boke Nasal Spray Brand -
- Diversifies Product Offering with Capsule Formulation -
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 in China, today announced that the Company has launched a new product for the rhinitis and allergy market, called Jingwei Capsules ("Jingwei"). Jingwei will be manufactured by the Company's Boke subsidiary, and will be marketed throughout China utilizing AOBO's distribution network, including the Company's national hospital and pharmacy distribution network.
Jingwei is an effective, long-lasting, tricyclic antihistamine that selectively antagonizes peripheral H1-receptors. This unique mechanism enables Jingwei to quickly alleviate the symptoms associated with rhinitis, chronic urticaria, itching skin and other allergic skin reactions, but without the common antihistamine side-effects. A branded version of Loratadine, Jingwei is currently reimbursable under China's national insurance program.
Mr. Tony Liu, Chairman and Chief Executive Officer of American Oriental Bioengineering, commented, "We are very pleased to be launching the Jingwei Capsule, which is complementary to our market-leading Boke nasal spray. Its major competitor is Schering-Plough's Claritine, whose revenue is estimated to be RMB 1.0 billion at present. Jingwei is an excellent product that is both effective and safe. With AOBO's well-established distribution network, and the strength of the Boke brand, we believe that the Jingwei capsule could become one of AOBO's leading products over time. We are confident in our future growth prospects as we continue to expand our product lines and launch innovative new products."
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 in 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 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.
