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BMP Sunstone Signs Letter of Intent to Acquire Shengda Pharmaceutical Co.
Date:7/18/2008

Proposed Acquisition to Strengthen Existing Therapeutic Focus Through

Extending the Good Baby Product Line

PLYMOUTH MEETING, Pa., July 18 /Xinhua-PRNewswire-FirstCall/ -- BMP Sunstone Corporation (Nasdaq: BJGP; "BMP Sunstone"; the "Company") today announced that its wholly-owned subsidiary, Sunstone (Tangshan) Pharmaceutical Co., Ltd. ("Sunstone") has signed a non-binding letter of intent to acquire 75 percent of Zhangjiakou Shengda Pharmaceutical Co., Ltd ("Shengda"), Zhangjiakou Pharmaceutical Group for up to RMB 30.0 million (approximately $4.4 million). Terms of the acquisition are not yet finalized, as completion is subject to a number of conditions including finalization of due diligence and definitive documentation. The Company intends to use the cash available at Sunstone to fund the acquisition and expects to complete the acquisition by the end of the fourth quarter of 2008. The letter of intent also includes a six month exclusivity clause.

Shengda is a leading manufacturer of pediatric pharmaceuticals, specializing in antibiotic research and development and has approximately 75 product licenses approved by the SFDA in China.

Mr. Zhiqiang Han, President and Chief Operating Officer of BMP Sunstone, stated, "We look forward to the partnership with Shengda. While we are not interested in entering the low-end generic antibiotics market, the Shengda products we intend to acquire specifically target the oral pediatrics market. They fit nicely under our GoodBaby brand and also complement our pediatrics franchise in both the OTC and Rx markets. Utilizing our existing sales coverage and nationally-recognized brand, we intend to realize synergies immediately by increasing sales volume and improving sales margins."

Han continued, "Shengda's main products are amoxicillin tablets, capsules and clavulanate potassium compound preparation. These products include some of the most widely prescribed and effective pediatr
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SOURCE BMP Sunstone Corporation
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