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:6/26/2016)... (PRWEB) , ... June 26, 2016 , ... PawPaws ... a new product that was developed to enhance the health of felines. The formula ... , The two main herbs in the PawPaws Cat Kidney Support Supplement ...
(Date:6/25/2016)... ... ... The temporary closing of Bruton Memorial Library on June 21 due to a possible lice ... overlooked aspect of head lice: the parasite’s ability to live away from a human host, ... a necessary one in the event that lice have simply gotten out of control. , ...
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, Van Mitchell, Secretary of ... award to iHire in recognition of their exemplary accomplishments in worksite health promotion. , ... Workplace Health & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was ...
(Date:6/24/2016)... ... ... Marcy was in a crisis. Her son James, eight, was out of control. Prone to ... , “When something upset him, he couldn’t control his emotions,” remembers Marcy. “If there ... my other children and say he was going to kill them. If we were ...
(Date:6/24/2016)... ... ... makers of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a Fair Minimum ... by 2020 and then adjusting it yearly to increase at the same rate as the ... wage floor does not erode again, and make future increases more predictable. , The company ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016 ... of the "Structural Electronics 2015-2025: Applications, Technologies, ... In-Mold Electronics, Smart Skin, ... Photovoltaics Structural electronics involves electronic ... load-bearing, protective structures, replacing dumb structures such as ...
(Date:6/24/2016)... , June 24, 2016 According ... by Type (Standard Pen Needles, Safety Pen Needles), Needle ... GLP-1, Growth Hormone), Mode of Purchase (Retail, Non-Retail) - ... This report studies the market for the forecast period ... reach USD 2.81 Billion by 2021 from USD 1.65 ...
(Date:6/23/2016)... Research and Markets has announced the addition of the ... report to their offering. ... failure, it replaces the function of kidneys by removing the ... the treatment helps to keep the patient body,s electrolytes such ... Increasing number of ESRD patients & substantial healthcare expenditure on ...
Breaking Medicine Technology: