Medindia

X

Rx for Africa, Inc. Now Trading Under New Symbol (RXAF.PK)

Wednesday, October 31, 2007 General News J E 4
Advertisement
NEW YORK, Oct. 31 Rx for Africa, Inc.(Other OTC: RXAF.PK), announced today that effective immediately, its stockwill now trade under the symbol RXAF.PK and that the name "DiamondEntertainment" and its symbol (DMON.PK) will no longer be used as part of thecompany's operations.

Rx for Africa, Inc. is the surviving company in a reverse merger completedin May 2007 with Diamond Entertainment Corp. - (DMON.PK). Through its whollyowned subsidiary, Rx Africa (Ethiopia) PLC (formerly known as SunshinePharmaceutical), Rx for Africa, Inc. owns and operates a state-of-the artpharmaceutical plant built on twenty three thousand square meters of landlocated south of Addis Ababa, Ethiopia. The Company is currently producingand marketing eight generic products in Ethiopia, with the goal of increasingproduction within the next 12 to 18 months to 50 products meeting US Food andDrug Administration (US FDA) and World Health Organization (WHO) goodmanufacturing practices (GMP). The expected product list includes threemalaria drugs, three drugs for tuberculosis, nine HIV drugs, 27 antibiotics,and several each of anti-protozoans, anti-fungals and anti-emetics.

"The change in our name and symbol to Rx Africa, Inc. (RXAF.PK) betterreflects our mission and focus as a world-class provider of generic medicines,including those for HIV/AIDS, malaria, tuberculosis and other diseases,"commented Dr. Mulugetta Bezzabeh, CEO of Rx Africa (Ethiopia) PLC and boardmember of Rx for Africa, Inc. "Though presently focused solely in Ethiopia,we plan to expand our distribution throughout sub-Saharan Africa and beyond,and our new name and symbol are properly reflective of our path and vision.We are going to be a major player in the African pharmaceutical business."

Forward Looking Statements

This press release contains certain forward looking statements within themeaning of Section 27A of the Securities Act of 1933, as amended, and Section21E of the Securities and Exchange Act of 1934, as amended, which are intendedto be covered by safe harbors created hereby. Such forward-looking statementsinvolve known and unknown risks and uncertainties, including the failure tocomplete successfully the development of new or enhanced products, theCompany's future capital needs, the lack of market demand for any new orenhanced products the Company may develop, any actions by the Company'spartners or others that may be adverse to the Company, the success ofcompetitive products, other economic factors affecting the Company and itsmarkets, seasonal changes, and other risks detailed from time to time in theCompany's filings with the U.S. Securities and Exchange Commission. Theactual results may differ materially from those contained in this pressrelease. The Company disclaims any obligation to update any statements inthis press release.For further information contact: Howard Becker, Director Rx for Africa, Inc. (917) 553-1205

SOURCE Rx for Africa, Inc.
Advertisement


Advertisement

You May Also Like

Advertisement
View All

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
User Avatar
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions
s
DRAXIS to Present at the CIBC World Markets 18th A...
S
NeurogesX to Present at CIBC World Markets 18th An...