Biostar Pharmaceuticals signs $8M agreement to manufacturing, supply drugs

Biostar Pharmaceuticals announced that it signed another one-year agreement valued at approximately $8M to manufacture and supply Xijing Military Hospital with 16 new drugs used to treat a variety of diseases such as pharyngitis, nasopharynx, gastroenteropathy, nephropathy, asthma, hyperplasia of mammary glands, dermatosis, gynecological diseases, etc. The material terms of this agreement are similar to those of the first two one-year agreements signed with the same hospital in September and October for $3.6M and $3M, respectively. With this new agreement, Biostar will be manufacturing a total of 24 drugs for Xijing Military Hospital with a combined value of $14.6M.