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Press Release

Shaanxi Aoxing Pharmaceutical Co., Ltd. Renewed its GMP Certification

Biostar Pharmaceuticals,Inc.
Posted on: 07 Feb 18
Shaanxi Aoxing Pharmaceutical Co., Ltd. Renewed its GMP Certification

PR Newswire

XIANYANG, China, Feb. 7, 2018

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

View original content:http://www.prnewswire.com/news-releases/shaanxi-aoxing-pharmaceutical-co-ltd-renewed-its-gmp-certification-300594898.html

SOURCE Biostar Pharmaceuticals, Inc.

PR Newswire
www.prnewswire.com

Last updated on: 07/02/2018

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