Xechem, Inc., a Subsidiary of Xechem International, Inc. Announces That It has Obtained Regulatory Approval to Sell Paclitaxel in India
NEW BRUNSWICK, New Jersey, Jul. 27 - /EWire/ -- Xechem Inc. a subsidiary of Xechem International, Inc. (OTC BB ZKEM) today announced that it has obtained notice of regulatory approval to import and sell generic Chinese paclitaxel in India.
Xechem received its notice and authorization from the Indian Government on Friday, July 20, 2001. In addition to obtaining approval in India, Xechem is aggressively seeking approval to import and/or sell generic paclitaxel in other countries, including Indonesia and other Pacific Rim Countries, Africa, Europe, South America Countries and the United States.
According to Xechem's President and CEO, Dr. Ramesh C. Pandey, "Xechem is very excited about receiving its first regulatory approval to sell generic paclitaxel in a major market and all of Xechem's efforts in this arena are at last coming to fruition. Xechem will adhere to its aggressive plans to sell generic paclitaxel and its new paclitaxel formulation (and other new generation paclitaxel analogs) in as many geographic jurisdictions throughout the world as possible including the United States.'
Xechem International, Inc., (www.xechem.com) headquartered in New Brunswick, NJ, with subsidiary companies in USA, India and joint venture partners in both Hong Kong and Peoples Republic of China, is a biopharmaceutical company of which Xechem, Inc. (a US subsidiary) is engaged in the research, development and production of generic and proprietary drugs from natural sources, specializing in the development of niche-generic, difficult to replicate anticancer, antiviral (including Human Immuno-deficiency Virus, HIV), antifungal and anti-infective compounds and screens extracts and pure compounds from various parts of the world for their therapeutic use. XetaPharm, Inc., a subsidiary of Xechem, develops quality controlled nutritional products such as GinkgoOnce®, GinsengOnce®, GarlicOnce®, Gugulon(TM), Co-Enzyme Q-10 and VIDA PRAS(TM) as well as numerous other products under development. All XetaPharm products can be seen and ordered from our website at www.xetapharm.com, at our toll-free number (1-800-858-5854) or through a growing number of pharmacies, health food and nutritional stores.
For further information, contact John P. Luther, Vice President and General Counsel at (732) 247 - 3300.
This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward-looking statements involve known and unknown risks, uncertainties, including the ability of the Companies to successfully develop and commercialize their technologies, and other factors that may cause the actual results, performance or achievements of the Companies to be materially different from any future results, performance or achievements of the Companies expressed or implied by such forward-looking statements.