ORLANDO, Fla., July 9, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies Inc., today announced it has issued a third quarter fiscal 2008 research update for China Aoxing Pharmaceutical Company Inc. (OTCBB:CAXG), a pharmaceutical company in China specializing in the research, development, manufacture, and distribution of narcotics and pain management products.
Gaurav Aggarwal, MBA, RedChip Research Analyst, reported:
"In line with our expectations, CAXG completed the acquisition of Shijiazhuang Le Ren Tang Pharmaceutical Ltd. (LRT) in April 2008. With the integration of LRT, we believe CAXG will be able to better utilize operating resources and achieve efficiencies for new product launches in its business over the next 12 to 18 months.
"Given China's dynamic and ever-changing marketplace and the growth opportunities for narcotic and pain management products, we remain bullish on CAXG. We expect the introduction of new narcotics and pain management products in late 2008 will drive revenue growth in FY 2009 and beyond. We maintain our 'Speculative Buy' rating and target price of $3.76 per share," Aggarwal concluded.
To receive a complimentary copy of the RedChip Visibility second quarter research report for China Aoxing Pharmaceutical Company, Inc., please visit:
http://www.redchip.com/visibility/about.asp?page=vreport&reportid=121&from=07092008pr
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Disclosure
None of the profiles issued by RedChip Companies, Inc., constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Any investor should determine whether a particular security is suitable based on the investor's objectives, other securities holdings, financial situation needs, and tax status. China Aoxing Pharmaceutical Co., Inc., paid RedChip Visibility, a division of RedChip Companies, Inc., $30,000 for RedChip Visibility Program services, which included the preparation of this equity research report. To the fullest extent permissible under applicable law, RedChip Companies, Inc., will not be liable to you or anyone else for the quality, accuracy, completeness, reliability or timeliness of this information.