Aoxing Pharmaceutical Company, Inc. (NYSE MKT: AXN) disclosed that it commenced commercial production of Tilidine Hydrochloride
tablets, which is a narcotic drug product. According to the company, this is a significant milestone for it. Following this, the
stock is trading 11.8 percent on Thursday.
Aoxing Pharmaceutical Chairman and CEO, Zhenjiang Yue, commented, "The start of production of Tilidine tablet suggests that
Aoxing's capability in research and development has been recognized by the CFDA (China Food and Drug Administration)."
He added, "We believe that the new products in our R&D programs, including other narcotic drugs, addiction treatment, weight
loss treatment, and mental health-related pharmaceutical drugs, should become drivers for growth in the future. These achievements
are the results of the hard work of our management team and all of our employees. We appreciate both the strong support and
patience of our shareholders."
At time of writing, the stock traded 11.8 percent higher on Thursday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.