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news.The State Food and Drug Administration (SFDA) in China has approved Suzhou Erye Pharmaceutical's sixth production line, where the company will manufacture over 20 finished pharmaceutical products.
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Suzhou Erye is a subsidiary of NeoStem, which is engaged in the development and manufacturing of cell-based therapies in the US.
The combined production lines now certified by the SFDA are six of eight planned and were responsible for approximately 99% of Erye’s 2010 revenues.
NeoStem chairman and CEO Robin Smith said based on the capacity of the new facility, and anticipated volume growth, Erye’s top line revenues should see solid growth in the years ahead and NeoStem’s management will consider their multiple options to realize the benefits of this increasingly valuable asset.