Biostar Pharmaceuticals has entered into an agreement worth $3m to manufacture and supply five additional drugs to Xijing Hospital for one-year.
The five drugs include Qing Wen Granule, Ru Xiao Kang Capsule, Stomach and Intestine Purifying Capsule, Juteng Capsule and Ding An Kang Granule.
The company claims that the terms of the agreement are similar to those of the $3.6m agreement earlier signed with Xijing Hospital.
All five additional drugs will also be absolutely sold at and administered to patients admitted to the hospital.
Biostar chief executive officer and chairman Ronghua Wang said the experimental tests and trial production for the five drugs were successfully completed and the manufacturing technology and quality inspections were also cleared.
“As per the terms of the agreement, we will immediately start manufacturing the five drugs; the first supply is expected to be delivered to Xijing Hospital at the end of October 2012,” Wang added.
“We are currently manufacturing eight drugs for the Xijing Hospital and are working to sign additional contracts for more than a dozen new drugs.”