NEW YORK and XIANYANG, China, - Biostar Pharmaceuticals, Inc. (OTC Bulletin Board: BSPM) ("Biostar" or "the Company"), a leading manufacturer and supplier of pharmaceutical and medical nutrients addressing a variety of diseases and conditions through its wholly owned subsidiary, based in Xianyang, China, today announced it has retained HC International to lead a strategic communications program ("the IR program"). HC International will initiate a proactive and targeted investor relations campaign during the coming year. Matthew Hayden, president of HC International, and his team, will be advising the Company in all facets of public financial and corporate communications.
The Company's flagship product is the Xin Ao Xing Oleanolic Acid Capsule, the only SFDA approved OTC drug from the local level to the state level which treats chronic hepatitis B, a condition which affects 10% of the Chinese population. In addition, the company produces and sells two broad-based OTC drugs, two prescription drugs and ten nutrients. For 2008, revenues increased 113.5% to $33.9 million while net income increased 68.8% to $6.7 million.
HC International is a premier information resource for small-cap investors and investment professionals. HC International will help articulate Biostar Pharmaceuticals' strong product portfolio, its existing development pipeline and future growth opportunities to a much larger audience of investors, including institutional investors, hedge funds, independent portfolio managers, buy-side and sell-side analysts, small to large retail brokerage firms and accredited individual investors. Additionally, the firm will extend BSPM's investor awareness and shareholder communications program.
"The team at HC International is well-respected and has a proven track record of representing successful China-based, U.S.-listed companies," said Mr. Wang Ronghua, Chairman and CEO of Biostar Pharmaceuticals, Inc. "After careful review, we selected HC International to ensure that both our shareholders and members of the investment community are properly informed of our growth strategy and competitive advantages. We are confident they will help us to improve our overall communication capabilities, which includes delivering our story and subsequent milestones to a larger, targeted base of investors."
"Biostar Pharmaceuticals, Inc. is a fast growing China-based pharmaceutical company, which is leveraging success from its flagship Xin Ao Xin Oleanholic hepatitis B product to create a diversified product base addressing multiple indications. Hepatitis B affects 10% of the Chinese population. This group spends approximately $13 billion each year for treatment and medication. The company has developed several novel marketing strategies to gain further market share. In addition, Biostar is uniquely positioned to capitalize on the recently announced $125 billion healthcare plan and the long-term, secular growth opportunity in China," said Matthew Hayden, President of HC International, "The Company manufactures five medicines and ten nutrients addressing a number of health conditions through its four GMP-certified manufacturing lines and sells its products through an extensive nationwide distribution network."
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