PLYMOUTH MEETING, Pa., June 26 /Xinhua-PRNewswire-FirstCall/ -- BMP Sunstone Corporation today announced the official launch of Ferriprox in the People’s Republic of China. The Company will market and distribute Ferriprox under its five-year licensing agreement with Apotex, Inc. As part of the launch, the Company has held physician seminars in cities throughout Guangdong and Guangxi provinces.
Ferriprox(R) treats iron overload in the bloodstream which is often associated with thalassemia, a disease that can lead to organ damage and heart failure. Thalassemia is particularly prevalent in humid environments, like in Southern China, where it is estimated that 7-8% of the population needs treatment for the disease. Ferriprox(R) is currently sold in over 50 countries worldwide and is already approved for sale by China’s State Food & Drug Administration (“SFDA”). Ferriprox is the only oral formulation in the class of iron chelator in China, and has proven to be very effective in reducing chronic iron overload, especially in the heart.
“We are pleased to introduce a product that could help a portion of the 15.0 million people in China who develop thalassemia each year. While many physicians are already aware of the relative benefits of Ferriprox, we are excited to further their understanding of Ferriprox at our launch events held this week in Guangdong and Guangxi provinces, including in Guangzhou, which is one of our largest potential markets. This event, targeted to doctors and local distributors, features internationally-renown physician experts in the fields of cardiology and hematology, as well as Dr. Michael Spino, President of ApoPharma Inc.,” stated David Gao, Chief Executive Officer of BMP Sunstone.
Gao continued, “Ferriprox is a cost-effective thalassemia treatment, which we believe will result in greater drug compliance than competing injectable formulations. We also feel strongly that our sales and marketing capabilities can create a compelling addressable market and our distribution relationships can bolster our sales performance. We continue to believe that Ferriprox can have a meaningful revenue contribution for BMP Sunstone in 2009 and beyond.”
About Apotex Inc.
Apotex Inc. is the largest Canadian-owned pharmaceutical company, headquartered in Ontario with 5,500 employees and 21 facilities. It exports medicines to 115 countries and has an R&D budget expenditure planned of $2.0 billion over the next 10 years. Apotex researches, develops and manufactures over 300 medicines and fills over 72 million prescriptions in Canada per year.
About ApoPharma Inc.
ApoPharma Inc. is a Canadian pharmaceutical company that is devoted to the discovery and development of new medications to treat disorders of iron metabolism and also selected diseases of the skin. ApoPharma is a subsidiary of Apotex Inc., which is one of the most successful generic pharmaceutical companies in the world. Ferriprox has been approved in 54 countries for the treatment of iron overload in thalassemia and was the first oral iron chelator to be approved in Europe.
About BMP Sunstone Corporation
BMP Sunstone Corporation is a specialty pharmaceutical company that is building a proprietary portfolio of branded pharmaceutical and healthcare products in China and is pursuing partnerships with other companies seeking to enter the Chinese pharmaceutical market. It is the only U.S. public company to offer industry partners a comprehensive suite of market-entry services in China that includes pre-market entry analysis, clinical trial management, product registration, market research, as well as pharmaceutical marketing and distribution. The Company provides distribution services for a wide range of products, including Western medicines, traditional Chinese medicines, bio-chemical medicines, medical applications, branded generic pharmaceuticals, over-the-counter healthcare products, and home healthcare supplies and equipments. BMP Sunstone’s proprietary portfolio primarily focuses on women’s health and pediatrics. The Company is headquartered in Plymouth Meeting, Pennsylvania.
Safe Harbor Statement
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts, including but not limited to statements about the effectiveness of Ferriprox, increased drug compliance of Ferriprox compared to competing injectable formulations, the ability of the Company to develop an addressable market for Ferriprox, the ability of the Company’s distribution relationships to bolster the Company’s sales performance of Ferriprox and the revenue contribution of Ferriprox to the Company in the future. These statements are subject to uncertainties and risks including, but not limited to, Apotex Inc. ability to supply sufficient quantities of Ferriprox to the Company, the acceptance of Ferriprox in the Chinese market, the efficiency with which Ferriprox is introduced into the Company’s distribution network and other risks contained in reports filed by the Company with the Securities and Exchange Commission. All such forward- looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward- looking statements to reflect events or circumstances after the date hereof.
CONTACT: Fred M. Powell of BMP Sunstone Corporation, Chief Financial
Officer, +1-610-940-1675; Ashley Ammon MacFarlane and Christine Duan of
Integrated Corporate Relations, Inc., +1-203-682-8200 (Investor Relations),
both for BMP Sunstone Corporation
