PLYMOUTH MEETING, Pa., May 27 /Xinhua-PRNewswire-FirstCall/ -- BMP Sunstone Corporation (''BMP Sunstone’’ or the ''Company’’) today announced that it has received an Import Drug License (IDL) from the SFDA to market a new Propess applicator in China.
Prior to today in China, Propess was indicated for cervix dilation to help induce labor, and is currently distributed via vaginal inserts that are 1.1 mm thick. The birth rate in China averages approximately 1.2%, which results in about 16 million births each year. Further, about 18% of pregnant women require cervical dilation, including 3% of women with Premature Rupture of Membranes (PROM).
The IDL approved today will enable BMP Sunstone to market and distribute Propess vaginal inserts that are 0.8mm thick. The new applicator improves efficacy and broadens the potential use of Propess to women with PROM. The Company estimates that the 0.8mm Propess will increase the number of targeted women with PROM by approximately 500,000, or 3% of all pregnant women in China.
Cytokine PharmaScience Inc, the licensor, is in the process of applying for a new brand name for the 0.8 mm insert. Propess has been adopted as the first line treatment by China OB association. The Company anticipates distributing the 0.8mm Propess by September 2008.
David Gao, Chief Executive Officer of BMP Sunstone, stated, “We are pleased to offer this new form of Propess. The 1.1mm Propess insert has been extremely popular in China, evidenced by usage in our 500-plus hospital network. We anticipate that the 0.8mm Propess will help us to expand our distribution network to 1000 hospitals by 2010, and cover more than 1.5 million pregnant women per year. Generally, outside of China, the rest of the world has used 0.8 mm inserts for years, and we are very excited to bring this technology to China.’'
Mr. Gao continued, ''We are excited that the Propess sales was almost tripled from 2006 to 2007 and expect that the 0.8mm Propess will raise BMP’s competitive edge in China, where the demand for obstetric products is expanding rapidly. We believe that the launch of this new insert will drive higher margin revenue over time. 0.8 mm inserts yield a higher margin than do 1.1 mm inserts because the 0.8 mm insert is the global standard.’'
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 the anticipated distribution date of 0.8mm Propess, the anticipated expansion of the Company’s distribution network, the anticipated number of patients that will use Propess in the future, the ability of Propess to increase the Compnay’s competitiveness, and the anticipated increase in product margins from 0.8mm Propess versus 1.1mm Propess. These statements are subject to uncertainties and risks including, but not limited to, our ability to obtain sufficient quantities of 0.8mm Propess to distribute by September 2008, to successfully market 0.8mm Propess, to bring additional hospitals into our distribution network and to realize additional profit margins on from 0.8mm Propess versus 1.1 mm Propess 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: BMP Sunstone Corporation - Fred M. Powell, Chief Financial
Officer, +1-610-940-1675; Integrated Corporate Relations, Inc. - Ashley
Ammon MacFarlane and Christine Duan, +1-203-682-8200 (Investor Relations)
