XIANYANG, China, September 18, 2014 /PRNewswire/ — Biostar Pharmaceuticals, Inc. (NASDAQ: BSPM) (“Biostar” or the “Company”), a PRC-based manufacturer and marketer of pharmaceutical and health supplement products in China for a variety of diseases and conditions, announced today it has filed PRC national invention and creation patent for the pharmaceutical and preparation method of its new developed product, Oleanolic Acid Injection, which designed to treat Hepatitis B and liver cancer. The application passed the preliminary examination of the PRC State Intellectual Property Bureau and was accepted for review; the application acceptance number is 201410182757.7.
The filed patent is for the pharmaceutical and preparation method developed by the Company’s R&D team, together with the experts of Shaanxi University of Chinese Medicine after nearly 2 years of research and development effort. It is one of drug development efforts by the Company in combating Hepatitis B and liver cancer and is currently under pharmacological research.
Mr. Ronghua Wang, Chairman of the Company commented: “The filing and acceptance for review of the invention patent application indicates that the Company had made considerable progress in developing its Oleanolic Acid Injection. This promises to establish technical foundation for the product’s research and development and future expansion. The Company will continue to increase investment in its research and development efforts to generate effective drugs for the PRC markets.”
About Biostar Pharmaceuticals, Inc.
Biostar Pharmaceuticals, Inc., 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. The Company’s most popular product is its Xin Aoxing Oleanolic Acid Capsule, an over-the-counter (“OTC”) medicine for chronic hepatitis B, a disease affecting approximately 10% of the Chinese population. For more information please visit: http://www.biostarpharmaceuticals.com.
Safe Harbor Relating to the Forward-Looking Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The company uses words and phrases such as “guidance,” “forecasted,” “projects,” “is expected,” “remain confident,” “will” and similar expressions to identify forward-looking statements in this press release, including forward-looking statements. Undue reliance should not be placed on forward-looking information. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Biostar and described in the forward-looking information contained in this news release. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the Company’s ability to sustain its sales effort going forward, its ability to retain existing and retain new customers for its products, its ability to develop and commercialize new drugs in the future, to complete the contemplated clinical trials and capitalize on such opportunities, the Company’s ability to recover its sales and revenue for the gel capsule segment of its business, the state of consumer confidence and market demand or the Company’s products, success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to sustain our previous levels of profitability including on account of our ability to manage growth, intense competition, wage increases in China, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, our ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts and legal restrictions on raising capital or acquiring companies outside China. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our most recent Annual Report on Form 10-K for the year ended December 31, 2013, and other subsequent public filings. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by or on our behalf.