Biostar Pharmaceuticals, Inc., through its wholly-owned subsidiary in China, develops, manufactures and markets pharmaceutical and health supplement products for a variety of diseases afflicting the Chinese population.
The company announced today that its newly acquired subsidiary, Shaanxi Weinan, signed a 1-year distribution agreement with Shaanxi Huikang Pharmaceuticals Company effective January 1, 2012. Huikang Pharmaceuticals is a distributor of pharmaceutical products in 11 provinces in northwest and northern China and has a network of over 300 drugstores and hospitals.
Huikang Pharmaceuticals will distribute ten Biostar products. These products include six existing products which are currently being distributed through Biostar’s own network, covering 25 provinces, and four new products which are now being manufactured by Biostar. The four products include a remedy to fight the common cold, an anti-bacterial, anti-inflammatory drug, and drugs for the treatment of coronary heart disease and cerebrovascular disease.
All ten products will be ready for mass distribution through Huikang’s network starting in January 2012. Biostar anticipates this agreement will allow it to book annual sales of 30.4 million renminbi from the sale of these products. The amount may be higher if Huikang finds it needs more of the drugs due to high demand.
For additional information about Biostar Pharmaceuticals and its portfolio of products, please visit the company’s website at www.biostarpharmaceuticals.com
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