Product Line Extension Builds on Existing Brand Strength and Pediatric
PLYMOUTH MEETING, Pa., Aug. 18 /Xinhua-PRNewswire-FirstCall/ -- BMP Sunstone Corporation (Nasdaq: BJGP; "BMP Sunstone"; the ''Company'') today announced that the Sunstone (Tangshan) Pharmaceutical Co., Ltd. ("Sunstone"), its wholly-owned subsidiary, has received a production license from the Chinese State Food and Drug Administration ("SFDA") to manufacture and market GoodBaby Multivitamin Granules, a multivitamin formula for infants and children in China. The Company expects to launch the product at the end of the fourth quarter of 2008.
Mr. Zhiqiang Han, President and Chief Operating Officer of BMP Sunstone, commented, "We are excited about receiving the final approval from the SFDA to manufacture and market our multivitamin granule product. Pediatric multivitamins is an ideal extension of our GoodBaby brand as it builds on our existing brand strength and pediatric focus."
Mr. Han continued, "Demand for vitamin supplements is a substantial emerging market opportunity in China, where vitamin deficiency is common, especially in infants and children. We estimate that the market for pediatric vitamins can reach RMB 2 billion within the next 5 years at a sustainable annual growth rate of 15%. Parents in China are increasingly willing to pay a premium for high-quality branded children's products, resulting from the country's one-child policy. The approved product is developed to meet the special metabolic and nutritional requirements of Chinese children and is formulated with our pediatric expertise to cater to children's unique tastes. Special topic health seminars for children and their parents are expected to be part of our national launch plan starting the fourth quarter of 2008."
Mr. David Gao, Chief Executive Officer of BMP Sunstone, stated, "We
expect quick turnaround in capturing market share with the launch of
|SOURCE BMP Sunstone Corporation|
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