EquityNet Research Initiates Independent Research Coverage on Biostar Pharmaceuticals, Inc.
Press Release Source: EquityNet Research On Thursday February 18, 2010, 9:30 am
LOS ANGELES, Feb. 18, 2010 (GLOBE NEWSWIRE) -- EquityNet Research, an independent West Coast equity research firm, announced today that it has initiated coverage of Biostar Pharmaceuticals, Inc. (OTCBB:BSPM - News).
A full copy of the report and disclosure requirements are available at EquityNet Research's Web site: www.equitynet.net.
Biostar is a Xianyang-based developer, manufacturer and supplier of pharmaceutical products and medical nutrients addressing a variety of diseases and conditions, including hepatitis B, a disease afflicting an estimated 8-10% of the Chinese population.
Randy Lewis, CFA, Founder and Senior Analyst with EquityNet who is covering the Company, stated, "The Chinese pharmaceutical market is showing solid and sustainable growth and Biostar's results attest to that. We feel this is a testament to the increasing industry demand and business model that Biostar is executing, and certainly solidifies our confidence in the Company moving forward.
"We believe that the Company holds several competitive advantages, including a market leading position with the only OTC drug for hepatitis B in China and virtually complete control of its supply chain," Mr. Lewis concluded.
About EquityNet Research
EquityNet Research was formed to provide the investing public with professional, independent, objective research on under-followed public companies. It does this by preparing detailed reports that highlight the key aspects of each company and its industry. EquityNet strictly maintains independence and objectivity according to the Standards of Professional Conduct of the CFA Institute (CFAI), and though is compensated for performing due diligence and creating reports, thus keeping its research free to the public, does not have extraneous relationships with its followed-companies nor has any present or future pecuniary benefit other than that disclosed for each company on its Web site. EquityNet was compensated $7,000 by GeoInvesting for the due diligence, preparation, and any updates for one year, of the Biostar report. EquityNet is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. Price targets should be construed as fair-market-value (FMV) as of the date of any report, using industry-standard methodologies. Many factors can cause stock prices to deviate from FMV, including supply and demand issues, and general equity market conditions.
Contact:
EquityNet Research Randy Lewis, CFA, MBA, Senior Analyst
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