nd creative in our
acquisition strategy. We intend to consider a variety of strategic
opportunities in technology, new products, partnerships and minority or
majority stakes, in order to ultimately create long-term shareholder value.
Lastly, we note that AOBO's consistent internally generated cash flow ensures
that we do not anticipate returning to the capital markets in the coming year,
and also bolsters our competitive and negotiating position versus peers,"
Details of the Transaction
The Company completed a Purchase Agreement with Beijing Century East Fuel
Power Science & Technology Research and Development Co. Ltd., through which
AOBO acquired buildings occupying 14,615 square meters (157,314 square feet)
as well as the land use right to 22,008 square meters (5.4 acres) of land on
which the building is located in the Beijing Economic-Technological
Development Area. The cash transaction of $70.0 million was funded from the
Company's internally-generated cash flow.
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 in China.
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-Q for the quarter ended September 30, 2008,
may cause actual results or events to differ materially from those described
in the forward looking sta
Page: 1 2 3 Related biology technology :1
|SOURCE American Oriental Bioengineering, Inc.|
Copyright©2009 PR Newswire.
All rights reserved
. Tips from the journals of the American Society for Microbiology2
. Elsevier Introduces The American Journal of Medicine Blog3
. The American Ceramic Society releases new ACerS-NIST phase equilibria diagrams CD-ROM database4
. Transgenomic Receives Accreditation From College of American Pathologists5
. Proteolix Announces Positive Data From Two Ongoing Phase 2 Clinical Trials of Carfilzomib in Multiple Myeloma at the 50th Annual Meeting of the American Society of Hematology6
. Multiple Vimpat(R) (lacosamide) Studies Presented at American Epilepsy Society Annual Meeting7
. Proteolix Presents Preclinical Data for Oral Proteasome Inhibitor PR-047 at the 50th Annual Meeting of the American Society of Hematology8
. 100% Non-Incision Cosmetic Surgery, The 'Frame Thread Lift,' Debuts December 14, 2008 At American Academy Of Anti-Aging Medicine In Las Vegas9
. BioCryst to Present Three Posters During the 50th American Society of Hematology Annual Meeting and Exposition10
. Portola Data on Its Novel Syk Inhibitors and Novel Universal Factor Xa Inhibitor Antidote to be Presented at 2008 American Society of Hematology (ASH) Meeting11
. Growing Interest in DNA-Based Genetic Testing Among African American with Historic Election of President Elect Barack Obama