XIANYANG, China, August 4, 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 that it established a dedicated sales and marketing team for the purposes of developing and eventually expanding sales of the Company's Huangyangning tablets, hyperthyroidism and Wenweishu capsules to the top two tiered hospital facilities in ten PRC provinces, including, among others, in Beijing, Chongqing, Heilongjiang, Hebei and Henan provinces. To that end, in July 2014, the Company's opened a sales office in the high-tech development zone of Xi'an, the capital of Shaanxi province, which office, under the experienced management, will be primarily tasked with preparing sales and marketing team of as many as 200 sales representatives to target the top two tiered hospital facilities in the above-referenced PRC provinces.
"The establishment of our hospital marketing team will allow new sales channels for the Company's products. We believe that this step also lays a good foundation for introducing new products in such markets," commented Mr. Ronghua Wang, Chairman and Chief Executive Officer of Biostar Pharmaceuticals, Inc. "The Company's efforts will be directed to establish and strengthen the anticipated sales efforts to further the Company's market share and reach in those geographical regions," Mr. Wang 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 XinAoxingOleanolic 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 through the efforts of the new sales and marketing sales team, the Company's ability to build and expand upon its sales reach and market share, to capitalize on future sales opportunities, 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 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.
