NEW YORK, April 5 /PRNewswire-Asia-FirstCall/ -- NeoStem, Inc. ("NeoStem" or the "Company") , an international biopharmaceutical company with operations in the U.S. and China, announced that its Suzhou Erye Pharmaceutical subsidiary ("Erye") recently received approval from the State Food and Drug Administration (SFDA) in China to manufacture the sterile active pharmaceutical ingredient (API) of the anti-infective cloxacillin sodium. Cloxacillin sodium, a generic form Cloxapen, in finished dosage form is listed in China's National Medical Reimbursement Insurance List and thus is eligible for reimbursement by the government's healthcare programs.
"While there are many other manufactures in China approved to manufacture generic antibiotics, China's large market is more than sufficient to provide a significant opportunity for Erye," said Madam Jian Zhang, Erye's General Manager. "It is an important part of our strategy to expand our offerings of generic drugs and we hope to commercially launch the drug in the summer, along with generic omeprazole that was approved in November 2009."
About NeoStem, Inc.
NeoStem, Inc. is engaged in the development of stem cell-based therapies and building of a network of adult stem cell collection centers in the U.S. and China that are focused on enabling people to donate and store their own (autologous) stem cells for their personal use in times of future medical need. The Company is also the licensee of various stem cell technologies, including a worldwide exclusive license to VSEL(TM) technology which uses very small embryonic-like stem cells, shown to have several physical characteristics that are generally found in embryonic stem cells, and is pursuing the licensing of other technologies for therapeutic use. NeoStem's majority-controlled Chinese pharmaceutical operation, Suzhou Erye, manufactures and distributes generic antibiotics in China. For more information, please visit: http://www.neostem.com .