Navigation Links
NeoStem Provides Update on its Pharmaceutical Subsidiary Suzhou Erye
Date:5/18/2010

NEW YORK, May 18 /PRNewswire-Asia-FirstCall/ -- NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company with operations in the U.S. and China, provided an update on its majority-owned pharmaceutical subsidiary Suzhou Erye (Erye) following the first quarter and an outlook for the year.

Erye began relocation of its operations to its new state-of-the-art manufacturing facility with the State Food and Drug Administration (SFDA) approval of two production lines at the new plant. Expanded capacity at the new plant will enable Erye to increase its product supply to meet the rising demand in China's growing pharmaceutical market. Transition to the new facility is on track to complete by 2011 and is expected to significantly expand Erye's manufacturing capacity.

Erye's development pipeline continues to advance, including SFDA approval to manufacture the sterile active pharmaceutical ingredient of the anti-infective cloxacillin sodium. This new product and the SFDA approved omeprazole for GERD are pending commercialization during the summer of 2010 and are expected to generate additional growth opportunities in the second half of the year. Erye has an additional five products in its pipeline and is working with NeoStem to evaluate opportunities to in-license or acquire new drug opportunities to enhance the long-term growth potential.

"We are proud of Erye's many accomplishments to-date and believe the business is well on the way to executing the 2010 growth plan. First quarter revenues rose 24% over the same period last year to approximately $15.8 million," said Robin Smith, M.D., NeoStem's CEO and Chairman of the board of directors. "We continue to focus on helping Erye to accelerate its growth potential in China, including sourcing potential new drug deals and capitalizing on the country's unprecedented healthcare reform."

About NeoStem, Inc.

NeoStem, Inc. is engaged in the development of stem cell-based therapies, pursuit of anti-aging initiatives and building of a network of adult stem cell collection centers in the U.S. and China that are focused on enabling people to donate and store their own (autologous) stem cells for their personal use in times of future medical need. The Company also has licensed various stem cell technologies, including a worldwide exclusive license to VSEL(TM) technology which uses very small embryonic-like stem cells, shown to have several physical characteristics that are generally found in embryonic stem cells, and is pursuing the licensing of other technologies for therapeutic use. NeoStem's majority-controlled Chinese pharmaceutical operation, Suzhou Erye, manufactures and distributes generic antibiotics in China. For more information, please visit: http://www.neostem.com .

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward looking statements include statements herein with respect to the successful execution of the Company's strategy, accelerating Erye's sales growth in 2010 and successful transfer of Erye's production lines to the new facility, about which no assurances can be given. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2010 and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 17, 2010, as well as other periodic filings made with the Securities and Exchange Commission. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.

    For more information, please contact:

    NeoStem, Inc.
     Robin Smith, CEO
     Phone: +1-212-584-4174
     Email: rsmith@neostem.com
     Web:   http://www.neostem.com

    CCG Investor Relations, Inc.
     Lei Huang, Account Manager
     Phone: +1-646-833-3417
     Email: lei.huang@ccgir.com
     Web:   http://www.ccgirasia.com

     Crocker Coulson, President
     Phone: +1-646-213-1915
     Email: crocker.coulson@ccgir.com


'/>"/>
SOURCE NeoStem, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. NeoStem, Inc. to Present at NASDAQ MarketSite
2. NeoStem, Inc. and ImmuneRegen BioSciences(R) Announce a Collaborative Agreement to Advance Stem Cell Technology
3. NeoStem Appoints Deloitte & Touche as New Independent Registered Public Accounting Firm
4. NeoStem Announces Presentation Time Change at Roth Capital Partners 22nd Annual OC Growth Stock Conference
5. NeoStem Enters into SRA with University of Michigan; Funding from NIH Stem Cell Research Grant
6. NeoStem Prices Public Offering of 5,000,000 Shares of Common Stock
7. Busy Southwestern Orthopedic Practice Joins the NeoStem Stem Cell Collection Network
8. NeoStem Outlines to Shareholders Near-term and Long-term Business Strategies Following Acquisition of Chinese Pharmaceutical Company
9. United States Securities and Exchange Commission Declares Effective Registration Statement for NeoStems Acquisition of China Biopharmaceuticals Holdings, Inc. and a Controlling Interest in Leading Chinese Pharmaceutical Company; Meeting of Each Com
10. NeoStem, Inc. Awarded NIH Research and Research Infrastructure Grand Opportunities Grant
11. NeoStem CEO to Participate in 2009 World Stem Cell Summit on September 23rd
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/12/2016)... 12, 2016  PTC Therapeutics, Inc. (NASDAQ: ... (Strategies to Realize Innovation, Vision and Empowerment) grant ... provides funds to patient advocacy organizations to develop ... contributions to the rare disease community by increasing ... patient advocates. Mary Frances Harmon ...
(Date:2/11/2016)... AUSTIN, Texas , Feb. 11, 2016  Vermillion, ... focused on gynecologic disease, today announced the formation of ... --> --> Pelvic ... in both diagnosis and management. Once pregnancy is ruled ... fallopian tubes and ovaries, advanced endometriosis, benign ovarian tumors ...
(Date:2/11/2016)... , Feb. 11, 2016  Wellcentive today ... Portland, Oregon -based community care ... provide population health analytics, quality reporting and care ... FamilyCare strengthen its team of quality managers, analysts ... to the provider groups serving FamilyCare members. ...
(Date:2/11/2016)... 11, 2016   BioInformant announces the February ... Research Products, Opportunities, Tools, and Technologies – Market Size, ... The first and ... cell industry, BioInformant has more than a decade of ... market, by stem cell type. This powerful 175 page ...
Breaking Biology Technology:
(Date:2/1/2016)... , Feb. 1, 2016  Today, the first day ... announced plans to develop a first of its kind ... of IBM Watson. In the first application of ... (NYSE: IBM ), and Welltok will create a ... assessments with cognitive analytics, delivered on Welltok,s health optimization ...
(Date:1/25/2016)... Jan. 25, 2016   Unisys Corporation (NYSE: UIS ... F. Kennedy (JFK) International Airport, New York City ... identify imposters attempting to enter the United States ... them. pilot testing of the system at Dulles ... terminals at JFK during January 2016. --> pilot testing ...
(Date:1/21/2016)... January 21, 2016 ... new market research report "Emotion Detection and Recognition Market by ... Tools (Facial Expression, Voice Recognition and Others), Services, ... forecast to 2020", published by MarketsandMarkets, the global ... reach USD 22.65 Billion by 2020, at a ...
Breaking Biology News(10 mins):