XIANYANG, China, Jan. 23, 2012 /PRNewswire-Asia-FirstCall/ -- Biostar Pharmaceuticals, Inc. (NASDAQ GM: BSPM) ("Biostar" or "the Company"), a developer, manufacturer and marketer of pharmaceutical and health supplement products for a variety of diseases and conditions, today announced that on January 8th it was one of nine PRC pharmaceutical companies selected to cooperate with The Fourth Military Medical University ("FMMU") (website: http://en.fmmu.edu.cn) in the fields of research and product development.
Established in 1954 and based in Xi'an, FMMU is one of China's most prestigious military medical universities and research centers. FMMU consists of several colleges specializing in: basic medicine, aerospace medicine, stomatology (the study of oral diseases), biomedical engineering, military services and statistics, pharmacology, nursing, and operates three modern hospitals: the First Affiliated General Hospital, the Second Affiliated General Hospital and the Stomatological Hospital.
FMMU's primary purpose is to advance China's military medicine. Before selecting Biostar, to the best of the Company's understanding, FMMU screened various pharmaceutical companies, rating their achievements in several fields, including research and product development, their completion of clinical trials, and their products' significance in fighting widespread diseases.
During his speech at the January 8th ceremony, which was attended by more than 3,000 doctors, university professors, leaders in the medical field, and executives from more than 500 pharmaceutical companies, Biostar's Chairman and Chief Executive Officer, Mr. Ronghua Wang, noted that Biostar will work with FMMU's staff to share resources and ideas and to carry out phases I to IV of clinical trials for products covered under the cooperation agreement. Additionally, based on and in accordance with prescribed military guidelines, Biostar's researchers will develop products which, when approved, will be sold directly to the PRC military and to the three hospitals managed by FMMU. The Company anticipates that its Zushima spray, a pain suppressant, which Biostar developed for China's military and has cleared clinical trials, will receive a military license shortly.
Mr. Ronghua Wang noted, "We are proud to be one of only nine pharmaceutical companies in China selected to cooperate with FMMU. When compared to the other eight pharmaceutical companies in this group, Biostar is smaller, but our vertically integrated business model, our strong R&D, and our manufacturing and marketing capabilities were several of the reasons why Biostar was included in this group. For several years, we have been cooperating with many prestigious universities, such as Shaanxi College of Traditional Chinese Medicine, Shaanxi University of Science and Technology and the Northwest University - College of Life Science. We believe that through our cooperation with FMMU, we have positioned the Company to take advantage of the growth forecasted for the pharmaceutical industry. We remain committed to enhancing shareholder value by expanding our product range, increasing sales, and profitably growing our Company."
About Biostar Pharmaceuticals, Inc.
Biostar Pharmaceuticals, Inc., through its wholly owned subsidiary and controlled affiliate in China, develops, manufactures and markets pharmaceutical and health supplement products for a variety of diseases and conditions. The Company's most popular product is its Xin AoXing Oleanolic Acid Capsule, an over-the-counter ("OTC") medicine for chronic hepatitis B, a disease affecting approximately 10% of the Chinese population. For more information please visit: http://www.biostarpharmaceuticals.com
Safe Harbor relating to the Forward-Looking Statements
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 company uses words and phrases such as "guidance," "forecasted," "projects," "is expected," "remain confident," "will" and similar expressions to identify forward-looking statements in this press release, including forward-looking statements. Undue reliance should not be placed on forward-looking information. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Biostar and described in the forward-looking information contained in this news release. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the Company's ability to achieve its growth strategy, its ability to licensing and commercializing approval of the Zushima spray and other Company products, to incorporate and successfully develop additional drugs into the Company's existing product portfolio, its ability to capitalize on the market opportunities presented by such acquisition, regulatory and other related approvals relating to the acquisition, the Company's ability to integrate this acquisition into its current operations, its ability to complete the audit and other closing conditions relating to the acquisition, 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 most recent Annual Report on Form 10-K for the year ended December 31, 2010, and other subsequent filings. These filings are available at 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.
SOURCE Biostar Pharmaceuticals, Inc.