PLYMOUTH MEETING, Pa., Dec. 8 BMP SunstoneCorporation (Nasdaq: BJGP) ("BMP Sunstone" or the "Company") today announcedthat seventy eight of the Company's drugs have been included in China'sNational (Medical) Insurance Catalog (the "2009 NIC"), which was released byChina's Ministry of Human Resources and Social Security on November 30, 2009as part of China's health care reform plan. According to the Chinesegovernment, ninety percent of China's citizens will be covered by a universalhealthcare system by the end of calendar 2010.
The 2009 NIC is China's health care reform plan's official drugreimbursement list and includes 2,151 drugs in total. Seventy eight of BMPSunstone's products have been included in the 2009 NIC, twelve of which arenew additions from the last published catalog in 2004. These new additionsinclude some of BMP Sunstone's best selling products such as Confort, awomen's health treatment for vaginal infections, and Propess, a first linetreatment for labor induction in late-stage pregnancy. The Company'sAmoxicillin and Amoxicillin & Clavulanate Potassium products, which treatcough and cold symptoms, were also added to the 2009 NIC. In addition, theCompany's thalassemia medication, Ferriprox, has been preliminarily added toGuangdong Province's Medical Insurance Catalog.
Mr. David Gao, Chief Executive Officer of BMP Sunstone, commented, "We aredelighted to have twelve new drugs and a total of seventy eight of ourproducts included in China's National Insurance Catalog. The NIC is a vitalpart of the universal healthcare system, and will greatly expand theaddressable pharmaceutical market in China. We are especially pleased aboutthe inclusion of two of our best-performing products, Confort and Propess, aswell as our cough and cold products, in the NIC and the preliminary inclusionof Ferriprox in Guangdong Province's Medical Insurance Catalog. GuangdongProvince has the highest incidence of thalassemia in China and treatment forthis disorder can be very expensive. Therefore, we believe that the potentialfor partial reimbursement in Guangdong Province will boost sales of Ferriproxthroughout that province. We believe that the inclusion of our products inthe insurance catalogs will strengthen our brand recognition and accelerateour penetration into our key therapeutic areas, including women's andchildren's health."
About BMP Sunstone Corporation
BMP Sunstone Corporation ("BMP Sunstone" or the "Company") is a specialtypharmaceutical company that is building a proprietary portfolio of brandedpharmaceutical and healthcare products in China. Through SunstonePharmaceutical Co. Ltd., the Company manufactures leading pediatric andwomen's health products, including two of China's most recognized brands, "HaoWawa" and "Confort," sold throughout the country in approximately 120,000pharmacies. The Company also markets a portfolio of products under exclusivemulti-year licenses into China, primarily focused on women's health andpediatrics, as well as provides pharmaceutical distribution services throughsubsidiaries in Beijing and Shanghai. BMP Sunstone's main office is inBeijing, with a U.S. office in Plymouth Meeting, PA. For more information,please visit http://www.bmpsunstone.com .
Safe Harbor Statement
This news release contains forward-looking statements as defined by thePrivate Securities Litigation Reform Act of 1995. Forward-looking statementsinclude statements concerning plans, objectives, goals, strategies, futureevents or performance, and underlying assumptions and other statements thatare other than statements of historical facts, including but not limited tostatements about the Company's strategic and market penetration strategies andthe potential effects of the listing of the Company's products on China'sNational (Medical) Insurance Catalog. These statements are subject touncertainties and risks including, but not limited to, operating performance,general financial, economic, and political conditions affecting thebiotechnology and pharmaceutical industries and the Chinese pharmaceuticalmarket, the ability to timely manufacture and distribute the Company'sproducts and other risks contained in reports filed by the Company with theSecurities and Exchange Commission. In addition, the Company disclaims anyobligation to update any forward-looking statements to reflect events orcircumstances after the date hereof.For more information, please contact: Integrated Corporate Relations, Inc. (Investor Relations) Ashley M. Ammon Tel: +1-646-277-1227 Christine Duan Tel: +1-203-682-8200
SOURCE BMP Sunstone Corporation