Biostar Pharma (BSPM) Announces Launch of 'Easy Breathing' Product; Will Target Rhinitis, Sinusitis
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Biostar Pharmaceuticals, Inc. (Nasdaq: BSPM) announced that it will launch its new topical health product called "Easy Breathing" designed to treat rhinitis and sinusitis for sales in the PRC in November 2016. Rhinitis is irritation and inflammation of the mucous membrane inside the nose. Sinusitis is an inflammation or swelling of the tissue lining the sinuses.
This new product was developed by the Company's R&D team over the past 3 years. Having being developed based upon the principles of the traditional Chinese medicine, the product is designed to have effects of relieving stuffy nose, inhibiting nasal bacteria and viruses, and mitigating effects on the inflammation of nasal mucosa. It will be manufactured, distributed and sold in the PRC.
Wang Ronghua, Biostar's Chairman commented: "This new product was developed by our R&D personnel in response to market demand. It offers the benefits of low cost and short course of treatment. In connection with the launch of this product, we intend to utilize the Internet marketing and advertising, including WeChat and other similar media."
The Chairman continued: "In the past several months, we have been preparing various steps necessary for the launch of this new product. Though we do not anticipate any significant sales revenue in 2016, we expect to sell approximately 400,000 units within the next 2 years, which is expected to yield approximately RMB50 million (or US$7.5 million)."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Basic Energy Services (BAS) Files for Chapter 11 Bankruptcy; Appoints New Chief Restructuring Officer
- Myriad Genetics (MYGN), Sanofi (SNY) Enter Pact for ELIXA Trial Biomarker Analysis
- KemPharm (KMPH) Files IND with U.S. FDA to Commence Human Trials of KP201/IR
Create E-mail Alert Related CategoriesCorporate News, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!