EquityNet Research Initiates Independent Research Coverage on Biostar Pharmaceuticals, Inc.
LOS ANGELES – Feb. 18, 2010 — EquityNet Research, an independent West Coast equity research firm, announced today that it has initiated coverage of Biostar Pharmaceuticals, Inc. (OTCBB: BSPM).
A full copy of the report and disclosure requirements are available at EquityNet Research’s Web site: www.equitynet.net.
Biostar is a Xianyang-based developer, manufacturer and supplier of pharmaceutical products and medical nutrients addressing a variety of diseases and conditions, including hepatitis B, a disease afflicting an estimated 8-10% of the Chinese population.
Randy Lewis, CFA, Founder and Senior Analyst with EquityNet who is covering the Company, stated, “The Chinese pharmaceutical market is showing solid and sustainable growth and Biostar’s results attest to that. We feel this is a testament to the increasing industry demand and business model that Biostar is executing, and certainly solidifies our confidence in the Company moving forward.
“We believe that the Company holds several competitive advantages, including a market leading position with the only OTC drug for hepatitis B in China and virtually complete control of its supply chain,” Mr. Lewis concluded.
