In order to strengthen the company, Biostar Pharmaceuticals, Inc. announced a series of measures adopted. The first was the resignation of two directors, Mr. Michael Segal and Mr. Xifeng Nie which then led to the appointment of two independent directors, Mr. Zibing "Zack" Pan and Mr. Zhongyang Shang, to the Board. These changes were made in order to make the company stronger and have a successful 2010.
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About Biostar Pharmaceuticals, Inc.
Biostar Pharmaceuticals, Inc., through its wholly-owned subsidiary in China, develops, manufactures and markets pharmaceutical and medical nutrient products for a variety of diseases and conditions. The Company's most popular product is its Xin Aoxing Oleanolic Acid Capsule, an over-the-counter ("OTC") medicine for chronic hepatitis B, a disease affecting approximately 10% of the Chinese population. In addition to its hepatitis product, Biostar manufactures two broad-based OTC products, two prescription-based pharmaceuticals and thirteen nutrients. The Company has adopted international standards and is in the process of applying for two patents.
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