Aoxing Reports Progress in its Narcotic API Manufacturing JV

Aoxing Pharma reported its JV, which will produce narcotic drug APIs, has passed a GMP inspection conducted by the SFDA. The company expects its newly renovated facility to earn full GMP certification by the end of 2010, allowing manufacturing to begin in 2011. The JV will receive a capital investment of $15 million over 5 years. Initially, the entity will develop eight narcotic API products for the China market, but its potential product portfolio could exceed 30 products. More details.... Stock Symbol: (NYSE Amex: AXN)