China Biopharmaceuticals Holdings, Inc. (OTC Bulletin Board: CHBP), an integrated bio-pharmaceutical company, based in the People's Republic of China, announced today that its shareholders have approved the acquisition of CHBP by NeoStem, Inc. (NYSE AMEX: NBS) by an overwhelming vote in favor of approximately 80% of all issued and outstanding shares. The approval was obtained at a Special Meeting of Stockholders held recently.
Free Hot Penny Stocks, an online financial publication, provides investors timely stock market alerts. Free hot penny stocks profiles stock picks that could generate higher returns than average. These penny stocks include stocks with news, chart breakouts or increased volume.
Sign Up Today for our Penny Stock Newsletter
The Merger will expand the business potential and drug development opportunities with the addition of NeoStem's innovative Stem Cell therapy treatments. The expanded channels of development and distribution should boost the Company's portfolio of over 100 drugs on seven GMP lines, while benefiting distribution channels globally. Madame Zhang, General Manager of Erye, said, "This Merger will allow us to expand the business potential of Eyre's substantial lines of drugs, especially our proprietary small molecule drugs, and distribute them throughout China, realizing what we anticipate will be tremendous market potential. We look forward to a long and fruitful relationship with NeoStem and believe it will benefit from the large and growing China pharmaceutical market, which is expected to become the third largest drug market in the world (behind the US and Japan), and forecasted to triple in size by 2013. We are excited at the opportunity to become part of a listed publicly traded company and believe that this combination will prove beneficial to shareholders."
About NeoStem, Inc.NeoStem is developing a network of adult stem cell collection centers that are focused on enabling people to donate and store their own (autologous) stem cells when they are young and healthy for their personal use in times of future medical need. The Company has also entered into research and development through the acquisition of a worldwide exclusive license to technology to identify and isolate VSELs (very small embryonic-like stem cells), which have been shown to have several physical characteristics that are generally found in embryonic stem cells and is pursuing other technologies to advance its position in the field of stem cell tissue regeneration. China Biopharmaceuticals Holdings, Inc (Symbol: CHBP) is a vertically integrated pharmaceutical company dedicated to the discovery, development, manufacturing and marketing of small and large molecule pharmaceutical products, including medicines, vaccines, and active pharmaceutical ingredients for various categories of diseases. CHBP is a U.S.-listed public company with operating subsidiaries and senior management based in China.
Sign Up for Free Hot Penny Stocks’ FREE Penny Stock Newsletter.
About Us
Free Hot Penny Stocks is a financial website and independent electronic publication that provides information and free penny stock alerts on selected publicly traded companies. We also track small cap companies and other stocks that may be positioned to break out. These penny stocks might have news, increased volume or chart breakouts. These penny stocks that are alerted could generate greater than average returns. Feel free to visit our penny stock forum to discuss other penny stock picks or penny stocks that you might own.
Free Hot Penny Stocks is not a registered investment advisor or broker-dealer. Please do your own Due Diligence before investing in any of the stocks mentioned above. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer
