Navigation Links
BMP Sunstone Completes Acquisition of Shanghai Rongheng Pharmaceutical Co., Ltd
Date:7/7/2008

PLYMOUTH MEETING, Pa., July 7 /Xinhua-PRNewswire/ -- BMP Sunstone Corporation (Nasdaq: BJGP; ''BMP Sunstone'' or the ''Company'') today announced that it received the New Business License for BMP Sunstone's establishment of an enterprise with foreign investment in the People's Republic of China, from the Shanghai Administration for Industry and Commerce (SHAIC). With receipt of this license, the Company has completed the acquisition of 63.3 percent of Shanghai Rongheng Pharmaceutical Co., Ltd. (''Rongheng''). Shanghai Rongheng International Trade Co., Ltd. of Orient International (Holding) Co., CAS Shanghai Shenglongda Biotech Group and one other individual own the remainder of Rongheng.

David Gao, Chief Executive Officer of BMP Sunstone stated, "We are very pleased to complete the Rongheng acquisition, which is one more important step in our corporate mission to control direct access to the high end pharmaceutical markets in Beijing, Shanghai and the Guangdong province. These areas are China's top pharmaceutical markets and generate roughly 60 percent of all high-end pharmaceutical imports into the country. Through this acquisition, BMP Sunstone will gain direct coverage of 80 percent of the top-tier hospitals and 40 percent of the retail pharmacies in Shanghai, which enable us to penetrate the market more effectively and increase our market share in this important city.''

Rongheng is a pharmaceutical distribution company which distributes over 400 pharmaceutical products to more than 140 top-tier hospitals and 1,000 retail pharmacies in Shanghai. Rongheng was founded in 1999 by CAS Shanghai Shenglongda Biotech Group, a high-tech biomedical group focused on research and development, marketing and sales of new biotechnology and pharmaceuticals in China, and Orient International (Holding) Co., one of the largest foreign trade enterprises in China.

Mr. Gao continued, ''We believe that today's achievement is in the best interest of our customers, employees and shareholders and I'd like to thank all of our constituents for their hard work completing this acquisition. The closing of the Rongheng acquisition marks a major milestone for BMP Sunstone to complete our strategic initiatives to establish distribution networks in China.''

About BMP Sunstone Corporation

BMP Sunstone Corporation is a specialty pharmaceutical company that is building a proprietary portfolio of branded pharmaceutical and healthcare products in China and is pursuing partnerships with other companies seeking to enter the Chinese pharmaceutical market. It is the only U.S. public company to offer industry partners a comprehensive suite of market-entry services in China that includes pre-market entry analysis, clinical trial management, product registration, market research, as well as pharmaceutical marketing and distribution. The Company provides distribution services for a wide range of products, including Western medicines, traditional Chinese medicines, bio-chemical medicines, medical applications, branded generic pharmaceuticals, over-the-counter healthcare products, and home healthcare supplies and equipments. BMP Sunstone's proprietary portfolio primarily focuses on women's health and pediatrics. The Company is headquartered in Plymouth Meeting, Pennsylvania.

For more information, please contact:

BMP Sunstone Corporation

Fred M. Powell

Chief Financial Officer

Tel: +1-610-940-1675

Integrated Corporate Relations, Inc.

Ashley Ammon MacFarlane and Christine Duan

Tel: +1-203-682-8200 (Investor Relations)


'/>"/>
SOURCE BMP Sunstone Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. BMP Sunstone Announces Official Launch of Ferriprox in PRC
2. BMP Sunstone Announces Participation in June Investor Conferences
3. BMP Sunstone Reports First Quarter 2008 Financial Results
4. BMP Sunstone Donates RMB 1.2 Million to Earthquake Relief
5. BMP Sunstone Announces Participation in May Investor Conferences
6. BMP Sunstone to Report First Quarter 2008 Financial Results
7. BMP Sunstones Propess(R) Recommended as First Line Treatment By the Chinese Medical Association
8. USHIFU, LLC Completes Acquisition of Focus Surgery, Inc.
9. Southern Home Medical Equipment Completes 1-for-1,000 Reverse Split and Begins Trading Under New Symbol SHOM
10. KV Pharmaceutical Company Completes Fiscal 2008 Filings With Securities and Exchange Commission
11. Beeston completes drilling on Bluff Lake property, 100 Mile House
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/25/2017)... ... April 25, 2017 , ... ProRehab Physical Therapy (PRPT) ... preferred physical therapy provider for Derby City CrossFit, effective immediately. , In addition ... quickly and effectively as possible, ProRehab’s sports physical therapists will work with athletes ...
(Date:4/25/2017)... ... April 25, 2017 , ... A ... student test score performance for the 2015-16 school year across Wisconsin’s public schools, ... Though it highlights important patterns in student test score performance, the report’s limited ...
(Date:4/25/2017)... ... April 25, 2017 , ... As pharmaceutical ... partners to help with process innovation in drug formulation and manufacturing. CoreRx ... with state-of-the-art analytical equipment in support of their development and manufacturing goals. ...
(Date:4/25/2017)... ... ... MD is committed to providing the highest quality of spine care to all his patients. ... all my patients to alleviate possible future issues. I am pleased to have you as ... my trained staff will assist you in any way possible.” , Dr. Saad Chaudhary is ...
(Date:4/25/2017)... ... April 25, 2017 , ... ... healthcare products, is introducing Flexadin UCII, part of the EQUISTRO line, at this ... joint health in horses at the immunologic level. , The scientifically-developed Flexadin UCII ...
Breaking Medicine News(10 mins):
(Date:4/20/2017)... 20, 2017  Cogentix Medical, Inc. (NASDAQ: CGNT), ... the Urology, Uro/Gyn and Gynecology markets with innovative ... has joined the Company as Senior Vice President, ... position, Mr. Keswani will report directly to ... "Our organization is delighted that Ash has joined ...
(Date:4/20/2017)... 2017 Research and Markets has announced the ... by Rapidly Expanding Injectables Market and Increasing Usage of Complex Biologics ... ... will rise from USD 20 Billion in 2015 to around USD ... Technologies - Innovation Driven by Rapidly Expanding Injectables Market and Increasing ...
(Date:4/20/2017)... Eyevensys, a private biotechnology company ... expression technology that enables the safe, local, sustained production ... wide range of ophthalmic diseases, announces it has received ... Agency (MHRA) to advance its technology into clinical development. ... The EyeCET ...
Breaking Medicine Technology: