Biostar Pharmaceuticals, Inc. (OTC:BSPM) has announced its intent to acquire a 100% stake in an undisclosed medical equipment and nutrients manufacturer. The company will acquire to business for $1.1 million. The acquisition will extend the company’s portfolio of medicines and provide it with a medical equipment distribution opportunity.
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Biostar Pharmaceuticals operates through its subsidiary Shaanxi Aoxing Pharmaceutical Co., Ltd. The company is engaged in the business of discovery, development, manufacture, and marketing of over the counter (OTC) and prescription pharmaceutical products. Aoxing Pharmaceutical manufactures five drugs and ten nutrients and sells them in over thirty provinces in the People’s Republic of China.
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