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 GoodBaby Multivitamin Granules, by utilizing our well established OTC sales and distribution network. Our vast knowledge and experience in the pediatric pharmaceutical market has helped us create an innovative formula which would enable us to become a market leader in this area. We are optimistic that this new product will provide an additional revenue stream for BMP Sunstone. Moving forward, we will continue leveraging our strong GoodBaby brand and marketing channels to extend our product portfolio through internal development efforts and external product acquisitions. Sunstone currently has a line of products under development or pending final approval from the SFDA. We remain committed to being the market leader in women's and children's health and, ultimately, to maximizing shareholder value."
About BMP Sunstone Corporation
BMP Sunstone Corporation is a specialty pharmaceutical company that is building a proprietary portfolio of branded pharmaceutical and healthcare products in China. Currently this portfolio includes eight products under exclusive multi-year licenses for China, primarily focused on women's health and pediatrics. The Company also owns Sunstone Pharmaceutical Co. Ltd., which manufactures leading pediatric and women's health products, including two of China's most recognized brands, Hao Wawa(R) (GoodBaby) and Confort(TM), sold through approximately 50,000 pharmacies in China. The Company also provides pharmaceutical distribution services through its subsidiaries in Beijing and Shanghai, and through its affiliate, Guangzhou Pharmaceuticals Corp. The Company has its main office in Beijing, with a US office in Plymouth Meeting, PA. For more information, please visit http://www.bmpsunstone.com .
Safe Harbor Statement
This news release contains forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying assumptions and
other statements that are other than statements of historical facts,
including but not limited to statements about the expected launch date of
the SFDA-approved multivitamin formula, the market for pediatric vitamins
within the next 5 years at a sustainable annual growth rate of 15%, the
turnaround in capturing market share, our ability to be a market leader in
the pediatric pharmaceutical market, the SFDA-approved multivitamin formula
providing an additional revenue stream for BMP Sunstone, the ability of the
Company to leverage the GoodBaby brand and marketing channels to extend the
Company's product portfolio through internal development efforts and
external product acquisitions, the possible approval of additional products
by the SFDA in the future, being the market leader in women's and
children's health and maximizing shareholder value. . These statements are
subject to uncertainties and risks including, but not limited to, our
ability to successfully launch the SFDA-approved multivitamin formula,
competitors in the multivitamin market, our ability to take advantage of
synergies between our various subsidiaries and other risks contained in
reports filed by the Company with the Securities and Exchange Commission.
All such forward-looking statements, whether written or oral, and whether
made by or on behalf of the company, are expressly qualified by the
cautionary statements and any other cautionary statements which may
accompany the forward-looking statements. In addition, the Company
disclaims any obligation to update any forward-looking statements to
reflect events or circumstances after the date hereof.
For more information, please contact:
BMP Sunstone Corporation
Fred M. Powell
Chief Financial Officer
Integrated Corporate Relations, Inc.
Ashley Ammon MacFarlane and Christine Duan
Tel: +1-203-682-8200 (Investor Relations)
|SOURCE BMP Sunstone Corporation|
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