Drugs for Malaria and HIV/AIDS a High Priority
ADDIS ABABA, Ethiopia, Jan. 21 /PRNewswire-FirstCall/ -- Rx for Africa, Inc.'s (Pink Sheets: RXAF.PK) wholly owned operating subsidiary, Rx Africa (Ethiopia) P.L.C. announced today that it's newly completed R&D center has formulated nine generic pharmaceuticals, and is on track to launch a minimum of 36 new products in calendar 2009. The state of the art malaria drug Artemisinin is scheduled for a third-quarter launch, and HIV/AIDS pharmaceuticals are in process. "Globally, malaria is responsible for more than one million deaths per year, with 90% of these deaths here in sub-Saharan Africa. Over 22 million Africans live with HIV/AIDS, and 1.5 million a year die from it," said Dr. Mulugetta Bezzabeh, the CEO of Rx for Africa, Inc. "The urgency of meeting such crucial health needs is why we are so diligent in working towards our production goals."
"Additionally, our launch list of generic pharmaceuticals includes many standard antibiotics, anti-fungals, anti-inflammatory and analgesic drugs that are taken for granted in the U.S. and developed world, but of which there are still extreme shortages in Ethiopia, and throughout Sub-Saharan Africa. Our staff in Ethiopia, including scientists from India and Germany, is now accomplishing this important work and meeting or exceeding scheduling milestones."
About Rx for Africa, Inc.
Rx for Africa, Inc. is a public New Jersey corporation, formed in 2007 to invest in companies manufacturing generic pharmaceuticals in Sub-Saharan Africa. Rx Africa (Ethiopia) P.L.C. is a wholly-owned operating subsidiary of Rx for Africa, Inc., with a campus just outside Addis Ababa, Ethiopia, comprising a factory, R&D center and office facilities, currently producing six generic pharmaceutical products. The company sells 100% of its current production through distributors. Shares of Rx for Africa, Inc. common stock are traded under the symbol RXAF.PK on the Pink Sheets.
For more information, visit Rx for Africa, Inc.'s website: http://rxforafrica.com
Forward Looking Statements
This press 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 and 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 and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners or others that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
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