China-based Biostar Pharmaceuticals, through its wholly-owned subsidiary and controlled affiliate in China, develops, manufactures, and markets pharmaceutical and health supplement products for a variety of diseases and conditions. Its most popular product - Xin Aoxing Oleanolic Acid Capsule - is used to treat chronic hepatitus B, which affects approximately 10 percent of the Chinese population.
The company announced today that its Zushima Analgesic Spray pain relief drug has received the "Army New Drug Certificate," which is registered with Chinese military authorities as "Military Medicine Certificate #Z2012002." Zushima spray was developed jointly with the Lanzhou Military Institute of Drugs and Instruments specifically for the military to relieve pain and topical swelling, as well as joint pains due to rheumatic conditions, and to improve blood flow near affected areas.
Zushima spray has been part of the military research and development program since June 2006 and it entered clinical trials in 2008. The clinical trials were completed in 2010, and the pain relief drug was given approval by the General Logisitcs Department of China's Ministry of Health on April 15, 2011. Finally, last month Zushina spray received certification from the People's Liberation Army General Logistics Department.
Biostar finished the construction of a dedicated plant and production line for Zushima in May 2012, with the testing of all equipment completed in July of this year. Final approval to begin production is expected shortly. Zushima spray will initially be sold in military hospitals and is expected to generate between $4 million - $5 million in revenues in 2013. Biostar also plans to expand its growth opportunity by seeking approval to sell Zushima nationally in non-military locations.
For additional information about Biostar Pharmaceuticals and its entire product line, please visit the company's website at www.biostarpharmaceuticals.com
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