Navigation Links
BMP Sunstone Divests Ownership Stake in Alliance BMP Limited
Date:8/4/2009

PLYMOUTH MEETING, Pa., Aug. 4 /PRNewswire-Asia-FirstCall/ -- BMP Sunstone Corporation (Nasdaq: BJGP) ("BMP Sunstone" or the "Company"), today announced that it has entered into an agreement to divest its 20% ownership stake in Alliance BMP Limited, the Alliance Boots subsidiary that holds a 50% interest in leading Chinese pharmaceutical wholesaler Guangzhou Pharmaceuticals Corporation ("GP Corp.").

David Gao, Chief Executive Officer of BMP Sunstone, stated, "Working alongside Alliance Boots, a leading international pharmacy-led health and beauty group, has been a very positive experience for us and I believe their ongoing commitment to the project speaks to the strength of the Chinese JV and unique growth opportunity for pharmaceutical distribution in Southern China. Furthermore this acquisition underlines Alliance Boots' international strategy and reaffirms their ongoing commitment to the Chinese market. I look forward to continuing to work alongside Alliance Boots and the GP Corp. team during my ongoing two-year tenure as Chairman of GP Corp."

Gao continued, "Since creating the Alliance BMP JV in 2008, BMP Sunstone has significantly matured into a specialty pharmaceutical company with a proprietary portfolio of branded pharmaceutical and healthcare products in China. We have considerable access to the Southern China market given our existing Wanwei and Rongheng platforms, and we remain committed to enhancing our product sales in that geography through a variety of non-exclusive channels, including GPC. Given that we are always evaluating our capital deployment strategies so that we generate the highest growth and returns for our shareholders, we believe our fastest path to enhance profitability is to focus on new product launches and our brand strength. Additionally, we'll use a portion of the proceeds from today's announcement for existing capital commitments."

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. Currently this portfolio includes eight products under exclusive multi-year licenses for China, primarily focused on women's health and pediatrics. The Company also owns Sunstone Pharmaceutical Co. Ltd., which manufactures leading pediatric and women's health products, including two of China's most recognized brands, "Hao Wawa" and "Confort," sold through approximately 120,000 pharmacies in China. The Company also provides pharmaceutical distribution services through its subsidiaries in Beijing and Shanghai, and through its affiliate, Guangzhou Pharmaceuticals Corp. The Company has its main office in Beijing, with a US office in Plymouth Meeting, PA. For more information, please visit http://www.bmpsunstone.com .


'/>"/>
SOURCE BMP Sunstone Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. BMP Sunstone to be Featured on SIGs China Healthcare On Call Conference Call Series
2. BMP Sunstone Reports First Quarter 2009 Financial Results
3. BMP Sunstone To Report First Quarter 2009 Financial Results
4. BMP Sunstone Announces Participation in May Conferences
5. BMP Sunstone Receives Nasdaq Compliance Notice
6. BMP Sunstone Compliance Receives Nasdaq Notice
7. BMP Sunstone Appoints Les R. Baledge to Board of Directors
8. BMP Sunstone Exchanges and Calls Outstanding Notes Due May 2009
9. BMP Sunstone Reiterates Commitment to Quality, Innovation and Long-Term Growth at Meeting with Senior Officials
10. BMP Sunstone Announces Exchange Offer of $10.7 Million of Outstanding Secured Notes
11. BMP Sunstone to Report Third Quarter 2008 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... October 13, 2017 , ... As health professionals work to improve ... engagement.” The patient is doing more than filling out a survey; in many cases ... an increasing emphasis in health care and research on the importance of active engagement ...
(Date:10/13/2017)... ... October 13, 2017 , ... ... Pharmacy (SOP) alumni Hannah Randall, PharmD ‘17, and Jennifer Huggins, PharmD ’17, ... guideline updates for the primary prevention of cardiovascular diseases during the 15th ...
(Date:10/13/2017)... ... October 13, 2017 , ... Ellevate Network, the leading network for professional women, ... towards gender equality at their inaugural Summit in New York City in June. The ... social audience of over 3 million. To watch the Mobilize Women video, click ...
(Date:10/13/2017)... ... , ... “The Journey: From the Mountains to the Mission Field”: the story ... the Philippines. “The Journey: From the Mountains to the Mission Field” is the creation ... has taught all ages and currently teaches a class of ladies at her church, ...
(Date:10/12/2017)... ... 2017 , ... The company has developed a suite of ... authorities worldwide. From Children’s to Adults 50+, every formula has been developed by ... , These products are also: Gluten Free, Non-GMO, Vegan, Soy Free, Non-Dairy*, Preservative ...
Breaking Medicine News(10 mins):
(Date:10/4/2017)... Korea , Oct. 4, 2017  South Korean-based ... next-generation CPR training aide "cprCUBE" on Kickstarter. The device ... compression during cardiac arrests with better efficiency compared to ... also offers real-time feedback on efficacy of the compression ... crowdfunding campaign has a goal to raise $5,000. ...
(Date:10/2/2017)... 2017  AllianceRx Walgreens Prime, the combined central specialty ... pharmacy benefit manager Prime Therapeutics LLC (Prime), today officially ... the unveiling of new signage at its headquarters in ... at a few other company-owned facilities across the country. ... some of whom will begin to see the AllianceRx ...
(Date:9/27/2017)... 27, 2017  Commended for their devotion to personalized service, ... as number one in the South Florida Business Journal,s 50 ... 5000 yearly list, the national specialty pharmacy has found its ... will soon be honored by SFBJ as the 2017 ... Set to receive his award in October, Bardisa said ...
Breaking Medicine Technology: