Company Receives Approval from Chinese Health Authorities to Launch Final
Clinical Trial for Asacard(R)
NEW HAVEN, Conn., Aug. 25 /PRNewswire/ -- RHEI Pharmaceuticals, Inc. today announced the appointment of Dr. Geert Cauwenbergh as Chief Executive Officer. Dr. Cauwenbergh succeeds Joos Horsten, who recently passed away. Dr Cauwenbergh has been assisting RHEI Pharmaceuticals since August 1, 2008 in providing the necessary leadership to continue the Company's development.
"I am honored to follow in the footsteps of Joos Horsten, a serial entrepreneur who was a key figure in the development of the Western pharmaceutical industry in China," noted Dr. Cauwenbergh. "As a result of Joos' leadership and foresight, RHEI Pharmaceuticals is uniquely positioned to accelerate the availability of already approved western medicines in the Chinese market and I am fortunate to be working with the world-class team that Joos had assembled in order to pursue its growth strategy."
The Company also announced today that it has received approval from the Chinese Health Authorities to launch its final clinical study for Asacard(R), a controlled release formulation of aspirin. With this approval in place, RHEI Pharmaceuticals has a low-risk pipeline of novel western medicines lined up for the Chinese market, with multiple product launches expected over the next few years.
Commenting on this news, Dr. Cauwenbergh stated, "With one potential launch this year, followed by three in 2009 (including Asacard(R)) and an additional product launch planned each year thereafter until 2012, RHEI Pharmaceuticals is expected to achieve very rapid growth. It is our goal to become the partner of choice for western companies that want to tap into the fast growing Chinese Health Care market, as well as for those Chinese companies that are interested in distributing western drugs, domestically."
Prior to joining RHEI Pharmaceuticals, in February 2
|SOURCE RHEI Pharmaceuticals, Inc.|
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