Biostar Pharmaceuticals (NASDAQ:BSPM)

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At least one VIE exists in the corporate structure

Company Description

BioStar Pharmaceuticals, Inc., through its wholly-owned subsidiary develops, manufactures and markets pharmaceutical and medical nutrient products for a variety of diseases and conditions. The Company's most popular product is its Xin Ao Xing Oleanolic Acid Capsule, an over-the-counter (OTC) medicine for Chronic hepatitis B, a disease affecting approximately 10% of the Chinese population. In addition to its hepatitis product, BioStar manufactures two broad-based OTC products, two prescription-based pharmaceuticals and ten nutrients. The company has adopted international standards and currently holds three patents and is in the process of applying for another three patents.

The company's products are currently being sold through an established network of more than 200 dedicated sales people. Biostar is also in the process of testing the China Hepatitis Internet Hospital. This unique, multi-purpose site serves as an effective marketing tool and distribution channel for Biostar's Hepatitis and nutrient products, while providing patients with convenient, confidential and dedicated service, all handled qualified, responsible personnel.

Located near the Qinling Mountains in Xian Yang, Biostar has access to more than 3,000 botanic plant varieties, many with medicinal potential. The Company operates an herbal medicine planting base which provides it with many of its needed materials at a significantly lower cost than purchasing from third parties, and eliminates most needs for transportation.

Going Public Details

Web site: http://www.biostarpharmaceuticals.com

Last updated February 26, 2010