China Aoxing Pharmaceutical Company, Inc.(OTCBB: CAXG) ("China Aoxing"), a pharmaceutical company specializing inresearch, catalog printing development, manufacturing and distribution of narcotic andpain-management products, today announced that it has appointed Dr. HuiShao as Chief Financial Officer, effective immediately.
"We are very delighted to welcome Dr. Shao into his new appointment asChief Financial Officer of the Company," said Zhenjiang Yue, Chairman andCEO of China Aoxing. "We believe Dr. Shao's global vision and expertise inthe healthcare industry will enhance our operations and financialcapabilities immediately as our company embarks on a new era of growth andinternational endeavors. He will certainly strengthen our profile as apublicly listed company."
Dr. Shao brings a broad business and financial acumen with over 14 years ofextensive financial, accounting, private investment and strategic businessdevelopment experience across various aspects of the global healthcareindustry. Since 2007, Dr. Shao has served as the Company's Vice Presidentof Finance. Prior to joining the Company, Dr. Shao was a Senior Analystat Mehta Partners and Kamunting Street Capital Management in New York,where he was responsible for a healthcare investment portfolio of over $100million across North American and European companies. Dr. Shao was aPrincipal Scientist, leading metabolic disease and oncology projects atRoche Pharmaceuticals, before he started his career on Wall Street.
Dr. Shao earned his MBA in Finance and Accounting from the Stern School ofBusiness, New York University. He earned his Ph.D. in Bioorganic Chemistryfrom the University of California, San Diego. He is a Chartered FinancialAnalyst (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 roleat the Company. Our business is making significant progress on every front.I look forward to seeing these endeavors to fruition and believe that ChinaAoxing will be in an excellent position to benefit from the rapid growthand market dynamics of its pain management therapeutics."
With Dr. Shao's appointment, Ms. Hongyue Hao will step down as the ActingCFO. Ms. Hao will continue to be the Vice General Manager of FinancialOperations 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 pharmaceuticalcompany specializing in research, development, manufacturing anddistribution of a variety of narcotics and pain-management products. It hasa strategic alliance with American Oriental Bioengineering, Inc. (NYSE: AOB). Headquartered in Shijiazhuang City, the pharmaceutical capital ofChina, outside of Beijing, China Aoxing has China's largest and the mostadvanced manufacturing facility for highly regulated narcotic medicines,addressing a very under-served and fast-growing market in paper bag printing China. Itsfacility is one of the few GMP facilities licensed for narcotics medicines.The Company is working closely with the Chinese government and SFDA toassure the strictly regulated availability to medical professionals of itsnarcotic drugs and pain medicines throughout China.
Statements made in this press release are forward-looking and are madepursuant to the safe harbor provisions of the Securities Litigation ReformAct of 1995. Such statements involve risks and uncertainties that maycause actual results to differ materially from those set forth
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