Navigation Links
Biostar Pharmaceuticals, Inc. Expands Rural Network by Over 21% in Third Quarter 2010; Brings Total Number of Locations to 8,500
Date:10/25/2010

Biostar Pharmaceuticals, Inc. Expands Rural Network by Over 21% in Third Quarter 2010;... -- XIANYANG, China, Oct. 25 /PRNewswire-Asia-FirstCall/ --


Advanced Search Search

  
Close
  1. Send a release
  2. Member sign in
  3. Become a member
  4. For journalists
  5. Global sites
PR Newswire: news distribution, targeting and monitoring
  1. Products & Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
Biotechnology, Health Care & Hospitals, Medical Pharmaceuticals, Pharmaceuticals, Supplementary Medicine, Sales Reports Click to view news release full screen  

Biostar Pharmaceuticals, Inc. Expands Rural Network by Over 21% in Third Quarter 2010; Brings Total Number of Locations to 8,500

 

XIANYANG, China, Oct. 25 /PRNewswire-Asia-FirstCall/ -- Biostar Pharmaceuticals, Inc. (Nasdaq: BSPM) ("Biostar" or "the Company"), a Xianyang-based manufacturer of a leading over-the-counter Hepatitis B medicine, Xin Aoxing Oleanolic Acid Capsules ("Xin Aoxing Capsules"), and a variety of pharmaceutical products, today announced it has expanded its rural distribution network in the third quarter ended September 30, 2010 to 8,500 locations, an increase of approximately 21.4% from the second quarter ended June 30, 2010.

Biostar sees significant opportunities created by the state-implemented New Rural Cooperative Medical System to expand its rural distribution network. As of September 30, 2010, 10 of the Company's products were available for sale in approximately 8,500 rural retail locations across 22 provinces. Based on current internal projections, management expects the Company's rural retail distribution to double over the next few years. Sales to rural markets grew 66% in the first half of 2010 to $4.8 million, representing approximately 15% of total sales.

"We continue to expand our rural distribution network aggressively," commented Ronghua Wang, Chairman and Chief Executive Officer of Biostar. "With the PRC government allocating nearly $5.6 billion to expand basic medical services to all 900 million rural farmers by 2010, Biostar is well positioned to capitalize on this secular growth opportunity. We see many more years of healthy growth as more Chinese consumers have access to our products and our brand awareness continues to grow. Expanded rural distribution, coupled with strong growth in existing markets, makes us confident in reaching our 2010 sales and net income guidance of $80 million and $18 million, respectively."

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 Ao Xing 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 currently manufactures two broad-based OTC products, two prescription-based pharmaceuticals, one medical device and five health supplements.

Safe Harbor

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 risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the 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 Form S-1 dated June 27, 2008, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2010, our 10-K for the year ended December 31, 2009, and other recent filings. These filings are available at http://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.For further information, contact:Bill Chen (Deyin), CFOTel:   +86-138-1610-07Email: bchen65@gmail.comWeb: http://www.biostarpharmaceuticals.comTed HaberfieldHC International, Inc.Tel:   US +1-760-755-27Email: thaberfield@hcinternational.netWeb:   http://www.hcinternational.net
'/>"/>

SOURCE Biostar Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Biostar Pharmaceuticals, Inc. Reports Record Revenues and Earnings for 2008
2. Biostar Pharmaceuticals, Inc. Reports Continued Revenues and Earnings Growth in First Quarter of 2009
3. Biostar Pharmaceuticals, Inc. Retains HC International, Inc. to Implement Investor Relations Program
4. Biostar Pharmaceuticals, Inc. to Host Fiscal Year 2009 Second Quarter Earnings Conference Call on Friday, August 14, 2009 at 10:30 a.m. EDT
5. Biostar Pharmaceuticals, Inc. Announces Second Quarter 2009 Financial Results
6. Biostar Pharmaceuticals, Inc. to Launch Xin Aoxing Oleanolic Acid Capsules in Beijing and Shanghai
7. Biostar Pharmaceuticals, Inc. Announces First Quarter 2010 Financial Results
8. Biostar Pharmaceuticals, Inc. Begins Assembly of New Production Line
9. Biostar Pharmaceuticals, Inc. Appoints New Chief Financial Officer
10. Keryx Biopharmaceuticals, Inc. to Hold Conference Call on Second Quarter 2008 Financial Results on Monday, August 11, at 8:30 A.M. EDT
11. VioQuest Pharmaceuticals, Inc Q2/08 Review Issued by Scimitar Equity, LLC
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/23/2017)... and NEW YORK , ... Lumeon , a leading digital health company, ... a provider of telemedicine and remote patient monitoring, ... for telemedicine reimbursements.  DN Telehealth ... patients, in real-time, extending consultations beyond a physical ...
(Date:2/23/2017)... ... February 23, 2017 , ... ... portfolio to include an array of biochemical analyses critical for Lead Discovery. ... drive their hit-to-lead and SAR programs, including inhibitor potency and selectivity, mechanism of ...
(Date:2/23/2017)... SAN JOSE, Calif. , Feb. 23, 2017 ... an exclusive license for two key immunotherapy technologies ... The first technology provides a method to monitor ... therapy such as PD-L1 and CTLA-4.  The second ... detect if a patient is likely to have ...
(Date:2/23/2017)...  Seattle,s upscale Capitol Hill neighborhood, with its swanky shops, parks ... head lice treatment salon to set up shop. But there,s ... a French bistro on E Madison Ave, and CEO ... old lice clinic, we pride ourselves on being a destination ... of the stigma associated with lice. Everyone can get lice ...
Breaking Biology Technology:
(Date:2/3/2017)... , Feb. 3, 2017 A new ... Identity Strategy Partners, LLP (IdSP) . Designed to fill ... the complex identity market, founding partners Mark Crego ... 35 combined years just in identity expertise that span ... and non-profit leadership. The Crego-Kephart combined expertise has a ...
(Date:1/31/2017)... Mass. , Jan. 31, 2017  Spero ... novel therapies for the treatment of bacterial infections, ... set of antibacterial candidates from Pro Bono Bio ... increased prevalence of multi-drug resistant forms of Gram-negative ... Cantab Anti Infectives Ltd, a PBB group company. ...
(Date:1/24/2017)... 24, 2017 Biopharm Reports has carried ... use of nuclear magnetic resonance spectroscopy (NMR). This ... profiled current practices, developments, trends and end-user plans ... growth and opportunities. These areas include growth in ... needs and innovation requirements, hyphenated NMR techniques, main ...
Breaking Biology News(10 mins):