Biostar Pharmaceuticals, Inc., a developer, manufacturer and marketer of pharmaceutical and medical nutrient products for a variety of diseases and conditions in China, recently announced that the company has received a patent from China’s State Intellectual Property Bureau (patent number 551073) for its Aoxing Ganbao product, a traditional Chinese herbal product to treat Hepatitis B.
Used as a complementary treatment for the company’s flagship Xin Aoxing Oleanolic Acid Capsule, Ganbao is applied topically to effectively combat Hepatitis B conditions by nourishing the liver and reducing inflammation without side effects. The retail price of Aoxing Ganbao is $20 with a gross margin of 70 percent, and is being distributed through the company’s existing pharmaceutical channels in China. This patent will prevent its competitors from producing similar products for 20 years.
Mr. Wang Ronghua, chairman and chief executive officer of Biostar Pharmaceuticals, Inc., stated, “We are very pleased to receive this patent approval for our Aoxing Ganbao product, which we expect to further improve the Aoxing brand name. As a complementary product, Aoxing Ganbao will further increase the sales of our flagship Hepatitis B product, Xin Aoxing Oleanolic Acid Capsule.” Mr. Ronghua continued, “We plan to further extend our research and development capabilities aimed at launching complementary products to address the large Hepatitis B market opportunity in addition to other indications with high revenue potential which will drive incremental growth for Biostar. We expect to receive additional patents for multiple indications over the coming year, which will further strengthen our branded product base.”