NEW YORK and YANTAI, China, April 25, 2011 (GLOBE NEWSWIRE) -- Bohai Pharmaceuticals Group (OTCBB:BOPH) (OTCQB:BOPH), a China-based pharmaceutical company engaged in the production, manufacturing and distribution of Traditional Chinese Medicine (TCM) in China, today announced that during the fiscal third quarter of 2011 ending March 31, 2011, the company added 200 level 2 hospitals and10 new drug store chains to its national network of retail locations in China currently selling the company's Lung Nourishing Syrup. As a result, the company now sells Lung Nourishing Syrup in approximately 1,600 level 2 hospitals and 36 drug store chains across China.
Lung Nourishing Syrup, one of Bohai's leading products, is a novel formulation of a liquid product similar to cough syrup that is swallowed. Bohai applied for a patent on its Lung Nourishing Syrup for the treatment of Lung Qi Deficiency Cough and Chronic Bronchitis, which was approved by the State Intellectual Property Office of the PRC on June 23, 2010. The patent was awarded for a period of 20 years starting from the day of its application on September 12, 2007. In addition, Lung Nourishing Syrup, together with two other of Bohai's lead products, is eligible for reimbursement under China's National Medical Insurance Program, which enhances the marketability of the product. Bohai believes that demand for Lung Nourishing Syrup will continue due to increasing concerns surrounding respiratory and lung health caused by pervasive national air pollution in China.
"When we became a public company in 2010, we stated that one of our goals was to target 600 hospitals in 100 locations throughout China for direct marketing of our products. We are extremely pleased that these efforts have begun to show positive results with the strong adoption by hospitals and national drug stores of our Lung Nourishing Syrup, along with other of our TCM products," stated Mr. Hongwei Qu, Chairman, President and Chief Executive Officer of Bohai Pharmaceuticals Group. "We believe the implementation of our sales and marketing strategies represents a validation of the efficacy of our products, and we are hopeful that these trends can continue as we increase market awareness and distribution of our products."
About Bohai Pharmaceuticals Group
Bohai Pharmaceuticals Group, Inc. (OTCBB:BOPH) (OTCQB:BOPH) is engaged in the production, manufacturing and distribution of herbal pharmaceuticals based on Traditional Chinese Medicine in China. Bohai's medicines address common health problems such as rheumatoid arthritis, viral infections, gynecological diseases, cardio vascular issues and respiratory diseases. Bohai's products are sold either by prescription through hospitals or over-the-counter through local pharmacies and retail drug store chains. Bohai has approximately 600 employees, including approximately 300 sales representatives, operating from 20 offices throughout China. Bohai's three lead products, Tongbi Capsules, Tongbi Tablets and Lung Nourishing Syrup, are eligible for reimbursement under China's National Medical Insurance Program.
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This press release and the statements of representatives of our officers, directors, employees and representatives related thereto, contain or may contain forward-looking statements which are based upon the current beliefs and expectations of our management. Such statements contained in this release are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" and words of similar import, are intended to identify any forward-looking statements. The information contained in the forward looking statements is inherently uncertain, and our actual results may differ materially due to a number of factors, many of which are beyond our ability to predict or control, including, among others: (i) changes in the level of consumer spending or preferences or demand for our products; (ii) pressures from competition; (iii) our ability to hire and retain key personnel and our relationship with our employees; (iv) the performance of our distributors and other key vendors; (v) effectively carrying out and managing our growth strategies; (vi) failure to maintain the value and image of our brand and protect our intellectual property rights; (vii) seasonality; (viii) costs of materials and labor; (ix) sales, manufacturing, supply or distribution difficulties or disruptions; (x) compliance with or changes in Chinese, U.S. or international laws and regulations; (xi) costs as a result of operating as a public company; (xii) material weaknesses in internal controls; (xiii) interest rate and foreign currency risks; (xiv) our ability to maintain our land use and drug manufacturing rights in China; (xv) general economic and industry conditions in China and internationally, and other risks as more fully detailed in our filings with the Securities and Exchange Commission ("SEC"). Our filings with the SEC are available at www.sec.gov. You are urged to consider these factors carefully in evaluating our forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements which are qualified in their entirety by this cautionary statement. The forward-looking statements speak only as of the date on which they are made, and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances unless as required by applicable laws or regulations.
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