QUOTE AND NEWS
Insurance Journal  Jul 6  Comment 
Florida is famous for its catastrophic hurricanes, however, we also have our fair share of daily claims such as fire, vandalism and water losses. Florida is now becoming known for what is referred to as the “Assignment of Benefit (AOB) …
Mondo Visione  Jul 4  Comment 
Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB) in its 2016 annual report urged audit firms to strengthen their capacity building and improve their quality controls to demonstrate the importance of the value of audits and its...
Insurance Journal  May 9  Comment 
Florida lawmakers have once again let slip an opportunity to address insurance claims abuse, as legislation failed to make it through the Senate before the 2017 legislative session ended Friday. This is the fifth consecutive year that a bill on …
Insurance Journal  Apr 6  Comment 
The Florida Office of Insurance Regulation (OIR) has launched a new webpage as part of its efforts to educate Florida consumers about the state’s ongoing challenges with assignment of benefits abuse. The AOB resource webpage has been added to...
Insurance Journal  Apr 5  Comment 
A bill backed by the insurance industry to curb the abuse of Florida’s one-way attorney fee statute in assignment of benefit claims has stalled as lawmakers opted to instead advance what the insurance industry and the state’s regulator feel is...
Insurance Journal  Mar 30  Comment 
As the Florida property market fights what has so far been a losing battle against attorneys and unlicensed contractor firms over water loss claims and assignment of benefits (AOB), Citizens Property Insurance Corp., Florida’s property insurer...
Insurance Journal  Mar 29  Comment 
Citizens Property Insurance Corp. will post a net loss for 2016, its first loss in more than a decade, as water loss claims, assignment of benefit (AOB) abuse and litigation costs increasingly impact the company’s bottom line, according to a …
Insurance Journal  Feb 28  Comment 
Florida now has legislation backed by the top Florida insurance regulator and the industry that promises to curtail homeowners insurance abuse under the assignment of benefits (AOB) feature. Senate Bill 1038, filed Feb. 17 by State Sen. Dorothy...
Insurance Journal  Feb 15  Comment 
Florida’s insurance industry will apply significant pressure on lawmakers to pass assignments of benefit (AOB) reform in the upcoming legislative session as consumers face rate increases and a looming coverage availability crisis due to serious...
Insurance Journal  Feb 9  Comment 
Assignment of benefits abuse has escalated over the last five years to the point where it is now a serious disruption to Florida’s insurance market. The abuse, which is especially rampant in South Florida, stems from unscrupulous contractors and...




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American Oriental Bioengineering Inc. (AOB), together with its wholly owned subsidiaries, is a pharmaceutical company which develops, manufactures and commercializes both plant-based pharmaceutical (PBP) and plant-based nutraceutical (PBN) products.

PBPs are Traditional Chinese Medicine (TCM) based on non-synthetic medicinal compounds that are extracted from leaves and roots of one or more plants. Each PBP has certain medicinal functions and proven efficacy in the treatment of at least one or more illnesses or symptoms of illnesses. The company's PBP products are approved by the Chinese State Food and Drug Administration (SFDA) and are being sold both as prescriptions and over-the-counter (OTC) medicine. PBNs, also frequently referred to as "dietary supplements" or "nutritional supplements", are prophylactic or preventive, in contrast to PBP products which are used to treat an illness or symptoms of an illness. PBNs represent a different approach to medicine as they are supplementary to nutrition taken from a normal diet and help improve health or wellness of the whole body. The PBN products are approved by local government agencies to be labeled as nutraceutical products.

AOB currently offers over 20 PBP and PBN products in China. Core PBP products include Shuanghuanlian Lyophilized Injection Powder, a leading anti-viral injection effective in treating respiratory diseases, Cease Enuresis Soft Gel and Patch, a prescription medicine specially formulated to help alleviate bed-wetting and incontinence and other over-the-counter drugs, such as Jinji Capsule to treat gynecological inflammations and pre-menstrual symptoms. Core PBN products include a line of health supplements including soybean peptide products and nutritional beverages. All of the company's core products enjoy branded market leadership in China in the segments in which they compete. Because of the significance of these brands to the business, AOB concentrates its sales and marketing efforts in promoting them in target markets.

Key product sales as percentage of total revenue










2004


2005


2006


Plant-based Pharmaceutical (PBP products)







    Shuanghuanglian lyophilized injection powder 

16%


30%


25%


    Cease-enuresis soft gel and patch  

21%


22%


23%


    Jinji Capsule               

-


-


19%









Plant-based Nutraceutical (PBN products)







    Soy peptide series             

36%


28%


25%









The company finished its reverse takeover in 2003 and its shares were listed in OTCBB since then until July 2005 when the company's shares were listed in American Stock Exchange. In December 2006, the company's common stock commenced trading on New York Stock Exchange under the ticker of AOB. Headquartered in Harbin, China, AOB employs about 1981 employees.




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