Biostar Pharma to launch new product in China to treat rhinitis; shares up 29%

• Nano cap Biostar Pharmaceuticals (OTC:BSPM +29.2%) perks up on a 6x surge in volume in response to its announcement that it will launch a new topical product in China next month called "Easy Breathing" for the treatment of rhinitis and sinusitis.
• The product, based on the principles of traditional Chinese medicine, was developed internally over the past three years by the company's R&D group.
• The company says it expects to sell ~400K units in the next two years which should generate ~RMB50M ($7.5M) in revenue.