ALPHARX ENTERS INTO JOINT VENTURE AGREEMENT WITH LEADING CHINESE MARKETING

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Company AlphaRx Inc., an emerging biopharmaceutical company utilizing proprietary drug delivery technology to develop novel formulations of drugs, announced today that its wholly owned subsidiary, AlphaRx International Holdings Limited ("AIH"), has entered into a Joint Venture Agreement, ("JV") with a leading Chinese marketing company (the "China Party"), to establish a Joint Venture Company, ("JV Company") in China, for the purpose of manufacturing, marketing and distributing AIH's proprietary line of pharmaceutical and consumer health (over-the-counter) products in Asia.

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