SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

   Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934

                          Date of Report: May 31, 2006
                        (Date of earliest event reported)

                           XECHEM INTERNATIONAL, INC.
             (Exact name of registrant as specified in the charter)

           Delaware                         0-23788             22-3284403
(State or other jurisdiction of      (Commission File No.)     (IRS Employer
        incorporation)                                       Identification No.)

                         New Brunswick Technology Center
                    100 Jersey Avenue, Building B, Suite 310
                      New Brunswick, New Jersey 08901-3279
                    (Address of Principal Executive Offices)

                                 (732) 247-3300
               Registrant's telephone number including area code)

                                 NOT APPLICABLE
          (Former name or former address, if changed since last report)

                                ________________

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[_]   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

[_]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

[_]   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[_]   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))


<PAGE>

Item 1.01         Entry into a Material Definitive Agreement.

      On May 31, 2006, Nigerian Export-Import Bank (NEXIM) funded a direct loan
to our wholly-owned subsidiary, Xechem Pharmaceutical Nigeria, Ltd. (Xechem
Nigeria), pursuant to the terms of the following documents: (a) Direct Lending
Facility Agreement; and (b) Letter of Offer, attached hereto as Exhibits 10.1
and 10.2, respectively.

      The loan is in the principal amount of 150,000,000 Naira or approximately
One Million Two Hundred Thousand Dollars (US) ($1,200,000). The loan proceeds
are to be used primarily to facilitate the full-scale commercial production of
NICOSAN(TM), a promising medicine for the treatment of Sickle Cell Disease
through the expansion and integration of existing production facilities at the
company's research and production facilities at Sheda Science and Technology
Complex, Gwagwalada-Abuja. The loan facility will extend for a period of up to
three years. The loan facility bears interest at the rate of 15% per year. The
loan facility will be repaid through four consecutive semi-annual installments
of principal and interest with the first repayment (of approximately $400,000
US) occurring on May 15, 2007. The loan facility is secured by: (a) an all
assets debenture on the assets of the company which would be incorporated into a
trust for all lenders to be managed by Diamond Trustees Company, or any Trust
company appointed by NEXIM and other lenders; (b) personal guaranty to be issued
by the CEO, Dr. Ramesh Pandey, backed by a notarized statement of net worth; and
(c) promissory notes.

      Xechem Nigeria is obligated to pay the following fees: (a) a facility fee
of 1% flat on the facility amount or 1,500,000 Naira (approximately $12,500 US);
(b) a management fee of 0.5% flat on the principal amount outstanding from time
to time, payable annually on the anniversary of the facility; and (c) a
monitoring fee of 100,000 Naira (approximately $800 US), payable annually on the
anniversary of the facility. Nexim reserves the right to vary the rates as
dictated by market realities. Nexim is also entitled to name a director to the
Xechem Nigeria board of directors during the repayment of the facility.

      The descriptions of the Direct Lending Facility Agreement and Letter of
Offer included in this Current Report on Form 8-K are not complete, and are
qualified in their entirety by reference to the appropriate documents which are
filed as exhibits.


                                        2
<PAGE>

Item 9.01         Exhibits.

         (c)      Exhibits.

         Exhibit 10.1 - Direct Lending Facility Agreement

         Exhibit 10.2 - Letter of Offer


                                       3
<PAGE>

                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Dated:     May 31, 2006

                                         XECHEM INTERNATIONAL, INC.

                                         By: /s/ Ramesh C. Pandey, Ph.D.
                                             ---------------------------
                                             Ramesh C. Pandey, Ph.D.,
                                             Chief Executive Officer


                                       4
<PAGE>
                                  EXHIBIT INDEX

         Exhibit 10.1 - Direct Lending Facility Agreement

         Exhibit 10.2 - Letter of Offer


                                       5
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SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

   Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934

                          Date of Report: May 31, 2006
                        (Date of earliest event reported)

                           XECHEM INTERNATIONAL, INC.
             (Exact name of registrant as specified in the charter)

           Delaware                         0-23788             22-3284403
(State or other jurisdiction of      (Commission File No.)     (IRS Employer
        incorporation)                                       Identification No.)

                         New Brunswick Technology Center
                    100 Jersey Avenue, Building B, Suite 310
                      New Brunswick, New Jersey 08901-3279
                    (Address of Principal Executive Offices)

                                 (732) 247-3300
               Registrant's telephone number including area code)

                                 NOT APPLICABLE
          (Former name or former address, if changed since last report)

                                ________________

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[_]   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

[_]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

[_]   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[_]   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
Item 1.01         Entry into a Material Definitive Agreement.

      On May 31, 2006, Nigerian Export-Import Bank (NEXIM) funded a direct loan
to our wholly-owned subsidiary, Xechem Pharmaceutical Nigeria, Ltd. (Xechem
Nigeria), pursuant to the terms of the following documents: (a) Direct Lending
Facility Agreement; and (b) Letter of Offer, attached hereto as Exhibits 10.1
and 10.2, respectively.

      The loan is in the principal amount of 150,000,000 Naira or approximately
One Million Two Hundred Thousand Dollars (US) ($1,200,000). The loan proceeds
are to be used primarily to facilitate the full-scale commercial production of
NICOSAN(TM), a promising medicine for the treatment of Sickle Cell Disease
through the expansion and integration of existing production facilities at the
company's research and production facilities at Sheda Science and Technology
Complex, Gwagwalada-Abuja. The loan facility will extend for a period of up to
three years. The loan facility bears interest at the rate of 15% per year. The
loan facility will be repaid through four consecutive semi-annual installments
of principal and interest with the first repayment (of approximately $400,000
US) occurring on May 15, 2007. The loan facility is secured by: (a) an all
assets debenture on the assets of the company which would be incorporated into a
trust for all lenders to be managed by Diamond Trustees Company, or any Trust
company appointed by NEXIM and other lenders; (b) personal guaranty to be issued
by the CEO, Dr. Ramesh Pandey, backed by a notarized statement of net worth; and
(c) promissory notes.

      Xechem Nigeria is obligated to pay the following fees: (a) a facility fee
of 1% flat on the facility amount or 1,500,000 Naira (approximately $12,500 US);
(b) a management fee of 0.5% flat on the principal amount outstanding from time
to time, payable annually on the anniversary of the facility; and (c) a
monitoring fee of 100,000 Naira (approximately $800 US), payable annually on the
anniversary of the facility. Nexim reserves the right to vary the rates as
dictated by market realities. Nexim is also entitled to name a director to the
Xechem Nigeria board of directors during the repayment of the facility.

      The descriptions of the Direct Lending Facility Agreement and Letter of
Offer included in this Current Report on Form 8-K are not complete, and are
qualified in their entirety by reference to the appropriate documents which are
filed as exhibits.

                                        2
Item 9.01         Exhibits.

         (c)      Exhibits.

         Exhibit 10.1 - Direct Lending Facility Agreement

         Exhibit 10.2 - Letter of Offer

                                       3
SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Dated:     May 31, 2006

                                         XECHEM INTERNATIONAL, INC.

                                         By: /s/ Ramesh C. Pandey, Ph.D.
                                             ---------------------------
                                             Ramesh C. Pandey, Ph.D.,
                                             Chief Executive Officer

                                       4
EXHIBIT INDEX

         Exhibit 10.1 - Direct Lending Facility Agreement

         Exhibit 10.2 - Letter of Offer

                                       5