Beijing Med-Pharm Corp. Receives MOFCOM Approval to Acquire Interest in Shanghai Rongheng Pharmaceutical Co., Ltd.

PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)--Beijing Med-Pharm Corporation (NASDAQ:BJGP) (“Beijing Med-Pharm” or the “Company”), one of China’s leading pharmaceutical, marketing and distribution companies, today announced that the Ministry of Commerce (MOFCOM) of the People's Republic of China has approved its acquisition of 63.3 percent of Shanghai Rongheng Pharmaceuticals Co. Ltd. (“Rongheng”). Beijing Med-Pharm expects to close the transaction in the first quarter of 2008.