XIANYANG, China, Jan. 15, 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, today announced that its PRC operating subsidiary was designated as the Shaanxi Province Liver Disease Health Education Base.
On January 9, 2014, Mr. Ronghua Wang, the CEO of the Company, attended the opening ceremony of Shaanxi Pharmaceutical and Health Products Cooperation Association held at Xi'an International Health Industrial Park headquarters, at which event Shaanxi Aoxing Pharmaceutical Co., Ltd., the Company's PRC operating subsidiary, was awarded several honors of Shaanxi Pharmaceutical and Health Products Cooperation Association Director Unit and was designated as the Shaanxi Province Liver Disease Health Education Base.
Shaanxi Aoxing Pharmaceutical Co., Ltd. has been engaged in the research and development of liver disease products for more than a decade. Its product, Aoxing No.1 Oleanolic Acid Capsule, enjoys solid reputation in Shaanxi and northwest region of China and its sales continue to consistently increase. At the end of 2013, Aoxing No.1 Oleanolic Acid Injection completed testing of production technology and product stability.
In connection with the foregoing award and designation, Mr. Wang commented that "the Company's designation as the Liver Disease Health Education Base will provide a new platform for promotion, research and development of our Hepatitis B product. We will seize this opportunity to expand the reach of our product line and to accelerate the new product development cycle. The incidence of Hepatitis B in China remains high. We strive to produce high quality treatment medication for the affected patients and intend to continue on this important, public health mission", he concluded.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 achieve the projected sales in the recently opened sales offices, 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, 2012, 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. SOURCE Biostar Pharmaceuticals, Inc.