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news.Biostar Pharmaceuticals has completed the acquisition of Shaanxi Weinan Huaren Pharmaceuticals for $9.62m.
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As part of the acquisition, Biostar has changed its name to Shaanxi Weinan Aoxing Pharmaceuticals.
Next to the acquisition, Biostar has increased its portfolio of drug approvals and permits with an additional 86 drugs (60 prescription drugs and 26 OTC drugs) and one health product.
Biostar Board chairman and CEO Ronghua Wang said they will continue to manufacture and market Shaanxi Weinan’s existing products including Fosfomycin Calcium, Huangyangning Tablets, Zhitong Tougu Plaster Cream, Jiakangling Capsule, Qianlietong Capsule, Wenweishu Capsules, and Huaren Changweitong Capsule.
"We plan to start manufacture and market a number of new products including compound Paracetamol and Amantadine Hydrochloride, Danshen Tablets, Piracetam Tablets, Erythromycin Estolate Coated Particles," Wang said.