Chinese Pharmaceutical Manufacturer's Common Stock Listed On The Bulletin Board Under The Symbol OTCBB: BSPM
NEW YORK, Dec. 19 /PRNewswire-Asia/ -- Biostar Pharmaceuticals, Inc. (OTC Bulletin Board: BSPM)("Biostar") today announced that it has begun trading as a public company under the symbol OTCBB: BSPM.
Biostar Pharmaceuticals, Inc., through its wholly-owned subsidiary develops, manufactures and markets pharmaceutical and medical nutrient products for a variety of diseases and conditions. The Company's most popular product is its Xin Ao Xing Oleanolic Acid Capsule, an over-the-counter ("OTC") medicine for chronic hepatitis B, a disease affecting approximately 10% of the Chinese population. In addition to its hepatitis product, Biostar manufactures two broad-based OTC products, two prescription-based pharmaceuticals and ten nutrients. The Company has adopted international standards and is in the process of applying for three patents.
The Company's products are currently being sold through an established network of more than 200 dedicated sales people. Biostar's China Hepatitis Internet Hospital is a unique, multi-purpose site which serves as an effective marketing tool and distribution channel for Biostar's Hepatitis and nutrient products, while providing patients with convenient, confidential and dedicated service, all handled by qualified, responsible personnel.
Ronghua Wang, Chairman and Chief Executive Officer of the Company, stated, "Having our stock trade in the US marketplace is a significant step for Biostar Pharmaceuticals. We have been working hard to build a broad product base and presence in the growing over-the-counter pharmaceutical and nutrient markets. Our particular emphasis on products for hepatitis patients has enabled us to provide care for a growing and underserved customer base. We intend to take advantage of the inherent benefits of being a public company to develop and introduce new products, increase our manufacturing capacity, and expand the sales and marketing effort in Shaanxi province and new geographic markets."
About Biostar Pharmaceuticals, Inc.
Biostar Pharmaceuticals, Inc., through its wholly-owned subsidiary develops, manufactures and markets pharmaceutical and medical nutrient products for a variety of diseases and conditions. The Company's most popular product is its Xin Ao Xing Oleanolic Acid Capsule, an over-the-counter ("OTC") medicine for chronic hepatitis B, a disease affecting approximately 10% of the Chinese population. In addition to its hepatitis product, Biostar manufactures two broad-based OTC products, two prescription-based pharmaceuticals and ten nutrients. The Company has adopted international standards and is in the process of applying for three patents.
Safe Harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to sustain our previous levels of profitability including on account of our ability to manage growth, intense competition, wage increases in China, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, our ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts and legal restrictions on raising capital or acquiring companies outside China. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our S-1 dated June 27, 2008, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2008, and our other recent filings. These filings are available at http://www.sec.gov . We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by or on our behalf.
