BMGI: PharmStar Pharmaceuticals, Inc. Completes Stock Acquisition of U.S. Drug Developer With FDA-Approved, Over-the-Counter Pain Reli
Big Star Media Group (USOTC:BMGI)
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Today : Tuesday 15 March 2011
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PharmStar Pharmaceuticals, Inc., formerly known as Big Star Media Group, Inc. (PINKSHEETS: BMGI), announced today that it has executed a stock purchase agreement to acquire 93.5% of the privately-held PharmStar, Inc. ("PharmStar") (www.pharmstarinc.com), based in Rocky Mount, NC. As a result of the transaction, PharmStar Pharmaceuticals, Inc. will operate solely as PharmStar, Inc., which is focused on the manufacturing and marketing of its fully developed, FDA-approved, Over-the-Counter (OTC) liquid pain reliever and arthritis drug called Aquaprin™.
PharmStar, Inc. is in the process of changing its current ticker symbol, which should be completed within the next few weeks. BMGI shareholders will be notified when the ticker symbol change has taken affect.
About PharmStar, Inc.
PharmStar, Inc. is a U.S.-based drug development, manufacturing and marketing company and the innovator of Aquaprin™, an FDA-approved Over-the-Counter (OTC) liquid pain reliever. In development since 1993 with over $3 million invested to-date, Aquaprin™ is a liquid derivative of aspirin, and is now ready for commercialization. Aquaprin™'s unique, patent-pending formula is designed to dissolve nearly instantly in just 1.5 ounces of water. This enables the product to be absorbed into the bloodstream up to 10 times faster than traditional OTC pain relievers, and with little to no stomach upset.
PharmStar initially plans to sell Aquaprin™ directly to nursing homes, outpatient and health care clinics, emergency units of hospitals nationwide, as well as retail distribution and third-party websites. All package engineering, product stability, shelf life testing and quality control research has been completed from PharmStar's headquarters located in Rocky Mount, NC.
Forward-Looking Statements Disclosure
This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "will," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
Contact:
PharmStar, Inc.
919-794-7000
Email Contact
www.pharmstarinc.com
