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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 appr
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SOURCE NeoStem, Inc.
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