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BMP Sunstone Reports Second Quarter 2008 Financial Results
Date:8/11/2008

ed profit growth.''

Mr. Gao continued, ''Through the Sunstone acquisition, we significantly enhanced our product portfolio to include two of China's leading healthcare brands in therapeutic areas that we believe are extremely compelling: pediatrics and women's health. With the consolidation of the BMP and Sunstone hospital sales forces, we are expanding our distribution capabilities into more than 1,800 hospitals.''

Balance Sheet

As of June 30, 2008, the Company had cash and cash equivalents of $4.7 million and notes receivable of $17.5 million totaling $22.2 million. Notes receivables are notes received from customers for the settlement of trade receivable balances. All notes receivables are guaranteed by established banks in China and have maturities of six months or less. The Company had long-term debt of $2.9 million as of June 30, 2008. The Company paid $12.3 million in January 2008 for the establishment of the Guangzhou Pharmaceuticals Corporation joint venture and $1.6 million for the completion of the Rongheng acquisition in the second quarter.

Business Update

On June 20, 2008, BMP Sunstone received a letter from the State Food and Drug Administration (SFDA) approving the new brand name for 0.8mm Propess, which has wider usage than the 1.1 mm formulation. Earlier in the quarter, the Company had announced that it received an Import Drug License (IDL) from the SFDA to market the new applicator in China.

On June 26, 2008, BMP Sunstone announced the official launch of Ferriprox(R) in the People's Republic of China. The Company will market and distribute Ferriprox under its five-year licensing agreement with Apotex, Inc. Ferriprox is a cost-effective treatment for iron overload in the bloodstream which is often associated with thalassemia, a disease that can lead to organ damage and heart failure. Thalassemia is particularly prevalent in humid environments, like that in Southern China, where it is estimated that 7-8% of t
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SOURCE BMP Sunstone Corporation
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