XIANYANG, China, June 13, 2011 /PRNewswire-Asia-FirstCall/ -- BioStar Pharmaceuticals, Inc. (NASDAQ GM: BSPM) ("BioStar" or "the Company"), a Xianyang-based manufacturer of a leading PRC over-the-counter Hepatitis B medicine, Xin Aoxing Oleanolic Acid Capsules and a variety of pharmaceutical products, today announced the appointment of Fleishman-Hillard as its investor relations agency. Fleishman-Hillard will provide advisory services to BioStar for its investor communications and relations programs. Initiatives will focus on enhancing communication between the Company and its global investors and increasing the global financial community's awareness of BioStar's corporate strategy and business objectives.
"Having worked with thousands of companies globally as a professional communication adviser, Fleishman-Hillard has shown tremendous ability to provide BioStar with sound strategic advice and a unique perspective," said Mr. Ronghua Wang, CEO of BioStar. "With Fleishman-Hillard on board, we are confident that we will develop a more effective investor relations program."
BioStar also provided preliminary results for its share repurchase program. As of the close of business on June 10, 2011, Mr. Wang had repurchased approximately 115,000 shares at an average price per share of US$1.26. As background, BioStar announced on May 25, 2011, that its Board of Directors has approved Chief Executive Officer and Chairman of the Board, Mr. Ronghua Wang, to adopt a repurchase of up to 200,000 shares of the Company's common stocks effective from June 1, 2011 to November 11, 2011. For more information related to Mr. Wang's repurchase, please refer to the Company's press release "Biostar Pharmaceuticals, Inc. Approves Share Repurchase Plan; CEO Adopts 10b5-1 Trading Plan" dated May 25, 2011.
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 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 currently manufactures two broad-based OTC products, two prescription-based pharmaceuticals, one medical device and five health supplements. For more information please visit: http://www.biostarpharmaceuticals.com About Fleishman-Hillard Fleishman-Hillard Inc., one of the world's leading strategic communications firms, has built its reputation on creating integrated solutions that deliver what its clients value most: meaningful, positive and measurable impact on the performance of their organizations. The firm is widely recognized for excellent client service and a strong company culture founded on teamwork, integrity and personal commitment. Based in St. Louis, the firm operates throughout North America, Europe, Asia Pacific, Middle East, Africa and Latin America through its 80 owned offices. For more information, visit the Fleishman-Hillard website at www.fleishmanhillard.com. Fleishman-Hillard is a part of Omnicom Group Inc. (NYSE: OMC) ( www.omnicomgroup.com) Omnicom is a leading global advertising, marketing and corporate communications company. Omnicom's branded networks and numerous specialty firms provide advertising, strategic media planning and buying, interactive, direct and promotional marketing, public relations and other specialty communications services to more than 5,000 clients in more than 100 countries. SOURCE Biostar Pharmaceuticals, Inc.