Momentum Players

[alexindef]

$PHAR > good news

ROCKY MOUNT, NC — (MARKET WIRE) — 05/18/11 — PharmStar Pharmaceuticals, Inc. , (PINKSHEETS: PHAR) (the “Company”), a U.S. drug developer, manufacturer and marketer of the FDA -approved, Over-the-Counter (OTC) liquid pain reliever Aquaprin™, today announced that it has closed a transaction to acquire a new CGMP facility to produce Aquaprin, the Company’s primary product, plus other line extensions.

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The Company did not issue any type of a new debt instrument, nor did the Company dilute its existing common share capital structure in order to finance the transaction, which is consistent with the company’s objective of minimizing future dilution of its shareholder base.