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.
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