The Chinese Military Drug Administration has granted clearance to Biostar Pharmaceuticals to begin clinical trials on its new drug application, the Zushima Analgesic Aerosol Spray.
The company said that Zushima Analgesic Aerosol Spray is a Chinese herbal product used to relieve pain through a topical application to affected areas or closed wounds. The Zushima spray can also be used in the treatment of certain rheumatic conditions.
The product is being co-developed by Biostar and Lanzhou Military Medicine and Equipment Institute, but the intellectual property will be solely owned by Biostar.
Wang Ronghua, chairman and CEO of Biostar Pharmaceuticals, said: “We are very pleased that Zushima spray received approval to commence clinical trials, which is an important milestone to validate its efficacy. We anticipate Zushima will drive incremental revenue growth in 2010 and beyond. Developing new products with high revenue potential will continue to be a key component of our long-term strategy. We expect to immediately launch the Zushima spray in both military and civil markets after the final approval is received in 2010.”
Biostar Pharmaceuticals, through its wholly-owned subsidiary in China, develops, manufactures and markets pharmaceutical and medical nutrient products for a variety of diseases and conditions.