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:7/24/2017)... ... July 24, 2017 , ... Cheerag D. Upadhyaya , M.D., M.Sc., FAANS ... Institute (SLMBNI), part of Saint Luke’s Health System . Dr. Upadhyaya has ... Upadhyaya, MD. M.Sc., FAANS joins Stanley P. Fisher, M.D., who has served ...
(Date:7/24/2017)... ... 24, 2017 , ... BayMark Health Services has been awarded ... (SAMHSA) State Targeted Response to the Opioid Crisis program. The funding, awarded ... development of a hub and spoke model for opioid treatment in California. The ...
(Date:7/24/2017)... ... 2017 , ... Peruvian Ayahuasca retreat, East West Lodge, announced ... and divided between two full-time university students enrolled in U.S. or Canadian accredited ... apply for the scholarship, students are asked to submit an essay between 750 ...
(Date:7/24/2017)... ... 2017 , ... Axiad IDS , a leading provider of trusted identities ... WALLIX to expand its solution to help government contractors more quickly and cost-effectively ... ways to address the authentication requirements within NIST SP800-171, but no matter how ...
(Date:7/24/2017)... ... July 24, 2017 , ... A CDC study shows that, although people are taking more ... 18 to 29), had at least one case of sunburn within the past year. It’s ... people to ignore the issue. However, only recently have people become conscientious of the risks ...
Breaking Medicine News(10 mins):
(Date:7/21/2017)... Md. and RESEARCH TRIANGLE PARK, ... Therapeutics Corporation (NASDAQ: UTHR ) announced today ... results before the market opens on Thursday, July 27, ... will host a teleconference on Thursday, July 27, 2017, ... by dialing 1-877-351-5881, with international callers dialing 1-970-315-0533.  A ...
(Date:7/17/2017)... Fla. , July 17, 2017  MedX Holdings, ... branded medical testing, strengthening and rehabilitation equipment, today announced ... Machine Program. MedX is considered the gold standard for ... leader in specialized medical strengthening equipment. ... a lease with the physician or practice who prescribe ...
(Date:7/13/2017)... July 13, 2017 RK Logistics Group, Inc. was ... certification for its Fremont, CA headquarters ... the Tri-Valley and San Jose for ... of Fremont , with its Fremont Innovation District, is ... such a powerful resource to the hundreds of biotech, pharma ...
Breaking Medicine Technology: