XIANYANG, China, Feb. 7, 2018 /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, today announced that its
variable interest entity in China,
Shaanxi Aoxing Pharmaceutical Co., Ltd. ("Aoxing"), has renewed its
Good Manufacturing Practices (GMP) certificate and Pharmaceutical
Production License. The Company received the renewed GMP
certificate evidencing compliance on January
31, 2018.
Mr. Wang Ronghua, the Chairman of Biostar, stated: "The Company
is pleased to have completed the GMP certification inspection and
approval process. We expect that the GMP certification renewal will
allow us to resume our production in the coming months as the
Company makes preparations to carry on with the implementation of
its business plan and growth objectives."
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. 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 resume production as
anticipated, its ability to sustain its sales effort going forward,
its ability promptly and effectively to return to the normal
production levels, its ability to retain existing and retain new
customers for its products, the Company's ability to recover its
sales and revenue following the GMP certification renewal, 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, 2016, and other
subsequent 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.
Investor Relations Contact
Please send questions or comments to:
Biostar Pharmaceuticals, Inc.
Investor Relations Coordinator
+86-29-3368-6638
office@aoxing-group.com
http://www.biostarpharmaceuticals.com
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SOURCE Biostar Pharmaceuticals, Inc.