Biostar Pharmaceuticals announced that its Zushima Analgesic Spray pain relief drug has received the "Army New Drug Certificate", which is registered with China military authorities as "Military Medicine Certificate # Z2012002". Biostar completed the construction of a dedicated plant and production line for Zushima spray in May 2012, and the testing of all equipment in July. Good Manufacturing Practice (GMP) certification for this line is expected shortly, to be followed by production approval. Zushima spray will initially be sold in military hospitals and is expected to generate between $4M- $5M in 2013 revenues. In addition, Biostar intends to seek SFDA's approval to sell Zushima spray in the national market.
Happy demi-anniversary, stock market rally. Will the honeymoon ever end?