Use Regex to replace text between HTML tags

regex.php

preg_match('/>([^<]*)/i', $bread_item, $text);

$bread_item_text = preg_replace("/&#?[a-z0-9]+;/i", "", $text[1]);
$bread_item_text = '>' . truncate_utf8($bread_item_text, 50, TRUE, TRUE, 1) . '<';
$bread_item_text = preg_replace('/>[^<]*</i', $bread_item_text, $bread_item);

$breadcrumb[$key] = $bread_item_text;