Biostar Pharmaceuticals (Nasdaq: BSPM) To Supply All Hospitals In Three Chinese Provinces With Huangyangning Tablets

Atlanta, GA 4/23/12 (StreetBeat) -- Biostar Pharmaceuticals, Inc. (NASDAQ: BSPM), a PRC-based manufacturer and marketer of pharmaceutical and health supplement products in China for a variety of diseases and conditions, today announced that its Shaanxi Weinan subsidiary, acquired in October 2011, won a bid and has been selected as the exclusive supplier of Huangyangning Tablets, a prescription drug used for the treatment of cardiovascular disease, to all hospitals based in the provinces of Liaoning, Hebei and Shandong for up to three years. Biostar will supply Huangyangning Tablets to these hospitals based on patient needs in each hospital.

Ronghua Wang, Biostar's Chairman of the Board and Chief Executive Officer noted, "Bidding on and winning this contract are very important milestones for Biostar. After the acquisition of Shaanxi Weinan, we expanded our product portfolio with seven prescription drugs, bringing our total number of prescription drugs to nine. Following the completion of the acquisition, we focused marketing efforts for prescription drugs on expanding sales to hospitals which entails contract bidding. Of note, historically we have sold our products to local pharmacies and pharmaceutical distributors, but with this win we have penetrated the hospital prescription drug market. This win will provide us with guaranteed sales for Huangyangning Tablets, a drug used to treat cardiovascular symptoms such as chest pain and arrhythmia embolism. The product is widely used by cardiovascular patients all over China."

Mr. Wang added, "The cardiovascular disease drug market in China has been increasing by 18% annually, reaching over RMB 135 billion in 2011, and is the largest segment of pharmaceutical market in China. According to research conducted by the Chinese Center for Disease Control and Prevention, patients with cardiovascular disease have one of the highest mortality rates. Recent studies show that one person suffers a stroke or myocardial infarction every 12 seconds; deaths from cardiovascular diseases account for approximately 40% of total deaths in China."

Mr. Wang concluded, "We have submitted bids and plan to submit more to sell Huangyangning Tablets in other provinces and we plan to do the same for our other prescription drugs. These types of hospital contracts will provide Biostar with a good foundation for continued growth in sales and profits for the years to come. Our focus has always been to increase shareholder value and we are pleased that the acquisition of Shaanxi Weinan in late 2011 is proving to be a good investment for Biostar."

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