Biostar Pharmaceuticals (Biostar) has completed preparation to launch Xin Aoxing Oleanolic Acid capsules in Beijing and Shanghai in early January 2010. The capsules are meant for the treatment of Hepatitis B.
Biostar has launched its marketing and operational initiatives for selling Xin Aoxing capsules in these markets during December, including staff recruitment, establishing sales offices, engaging distributors and deploying advertisement.
Wang Ronghua, chairman and CEO of Biostar, said: “We are very pleased with the progress we have made to expand our Xin Aoxing capsules into Beijing and Shanghai. Our focus on the Tianjin, Beijing and Shanghai markets is part of a strategy to develop high-population territories along with continued expansion of our rural networks.
“2009 was a key turning point for our company as we completed several key growth initiatives and built a foundation for 2010. The success of our marketing strategy for our Xin Aoxing capsules helped us achieve growth in first three quarters of 2009. Our focus on expanding product sales to the rural area has also enabled us to gain incremental market share, which we believe will contribute meaningfully to future growth.”