NEWS
Xechem International, Inc. Retains Grant Thornton LLP as Its Auditors
NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--Jan. 31, 2001--Xechem International, Inc. (OTCBB:ZKEM) is pleased to announce that it has retained the services of the accounting firm of Grant Thornton LLP to perform financial audits of Xechem International, Inc. and its subsidiaries.
Dr. Ramesh C. Pandey, President & CEO stated that ``Grant Thornton was retained as auditors for Xechem due primarily to the continuing expansion of the Company into the international arena, mainly Asia. The Company feels that Grant Thornton's international expertise will be of great benefit to the Company now and in the future. The Company also plans to take the benefit of Grant Thornton's numerous other services (consulting, financial planning etc.) and make them a valued asset in our continuing growth and long range goals.''
Xechem International, Inc., headquartered in New Brunswick, NJ, with subsidiary companies in USA, India and joint venture partners in both Hong Kong and Peoples Republic of China, is a biopharmaceutical company of which Xechem, Inc. (a US subsidiary) is engaged in the research, development and production of generic and proprietary drugs from natural sources, specializing in the development of niche-generic, difficult to replicate anticancer, antiviral (including Human Immuno-deficiency Virus, HIV), antifungal and anti-infective compounds. The Company also screens extracts and pure compounds from China and India for their therapeutic use. XetaPharm, Inc., a subsidiary of Xechem develops high quality controlled nutraceutical products such as - GinkgoOnce®, GarlicOnce®, GinsengOnce®, Gugulon(TM) and Co-Q10 as well as numerous products that are under development.
This news 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 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, uncertainties, including the ability of the Companies to successfully develop and commercialize their technologies, and other factors that may cause the actual results, performance or achievements of the Companies to be materially different from any future results, performance or achievements of the Companies expressed or implied by such forward-looking statements.
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Xechem International, Inc., New Brunswick
Dr. Ramesh C. Pandey, 732/247-3300
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