Biostar is forecasting $2.0 million in initial Zushima sales and a $6.0 million contribution to revenues during 2011, with gross margins of 55.0%.
"We are pleased with the results of these clinical trials and are looking forward to our next stages of approval for Zushima," began Chairman and CEO Rongua Wang of Biostar Pharmaceuticals, Inc. "Our development of Zushima represents two important strategic goals for Biostar. First, Zushima highlights our commitment to develop new products to expand our product portfolio. Second, Zushima paves the way for entrance into the Chinese military market, which represents a large, new addressable market. We anticipate receiving our final approvals by September of 2010 and look forward to a successful launch of Zushima," Wang concluded.
About Biostar Pharmaceuticals, Inc.
Biostar Pharmaceuticals, Inc., through its wholly-owned subsidiary in China, 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 Aoxing 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 thirteen nutrients. The Company has adopted international standards and is in the process of applying for two patents.
Certain statements in this release concerning our future growth prospects
are forward-looking statements, within the meaning of Section 27A of the
|SOURCE Biostar Pharmaceuticals, Inc.|
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