NEW YORK, Aug. 26 /PRNewswire-Asia-FirstCall/ -- American Oriental Bioengineering, Inc. (NYSE: AOB - News), ("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, today announced that sixty one of its products have been included in China's Essential Drug List ("EDL"). The Company currently manufactures and markets six of the sixty one products, including one of the Company's leading products, Jinji Yimucao. Additionally, the Company is actively exploring marketing other AOBO products included in the EDL.
China's Ministry of Health ("MOH") released the EDL on August 18, 2009. After a rigorous selection process, an expert evaluation group selected three hundred and seven "essential medicines" from tens of thousands of products. Inclusion in the EDL ensures that products deemed to be essential medicines are available to the public at appropriate dosages and at affordable rates, at all times. Inclusion in the EDL also ensures inclusion in the National Medical Insurance Catalog, which reimburses manufacturers.
Mr. Tony Liu, Chairman and Chief Executive Officer of American Oriental Bioengineering, commented, "We believe we are well-positioned in the context of China's healthcare reform, and we are aligned with the PRC's overall efforts to enhance medical care and coverage nationally. We are honored to have sixty one products included in China's Essential Drug List, and today's announcement speaks to our commitment to efficacy and high quality. Our status as a designated branded supplier will boost distributor confidence and retail sales efforts. Going forward, AOBO will continue to be aligned with China's healthcare efforts as we maintain our vision and dedication to improving consumer health in China."
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.
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.
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